Indiabulls Housing Rebrands as Sammaan Capital

In furtherance to intimations dated May 22, 2023, and January 25, 2024, on rebranding of the  Company, we are pleased to inform that with the receipt of Certificate of Incorporation issued  by the Registrar of Companies [RoC], and receipt from the RBI of new Certificate of  Registration1 [CoR] as an NBFC-ICC [Non-Banking Financial Company – Investment and  Credit Company], the Company’s name stands changed from ‘Indiabulls Housing Finance  Limited’ to ‘Sammaan Capital Limited’. 

The Company shall shortly be submitting requisite applications with the exchanges for  effecting change of name and trading in the shares of the Company in its new name and a  new symbol. We further inform that the Clause I [i.e., Name Clause] of the Memorandum of  Association of the Company stands altered accordingly and the name ‘Indiabulls Housing  Finance Limited’ wherever it appears in the Memorandum of Association and the Articles of  Association, gets replaced with the new name ‘Sammaan Capital Limited’.  

Over the course of this month the Company will operationalize the change in name across  branches, its website, stationery etc. Customer outreach through appropriate campaigns  across various media channels would also be undertaken through the course of this fiscal  quarter. 

This year also marks the Company’s 25th year of operation – the erstwhile Indiabulls Financial  Services Limited, from which the Company originates, was incorporated in the year 2000. The  change in name is merely the latest milestone in the Company’s continuing larger journey  towards best-in-class corporate governance. From a promoter-led and promoter-driven lender  in its initial two decades of existence, over the last five years, the Company has transformed  itself into a board-run, professionally managed, diversely-held financial institution. In 2020, the  erstwhile promoter relinquished his position as Chairman of the Board, and Mr. S.S. Mundra,  ex-Deputy Governor of the RBI, took over as the [Independent, non-executive] Chairman. New  independent directors with depth of experience in areas relevant to the business were  inducted. In parallel, the erstwhile promoter pared his stake, and following his de promoterisation by the stock exchanges in February 2023, completely sold all his holdings and  today does not hold a single share in the Company. The board now exercises effective  oversight over all aspects of the Company’s operations through various board-constituted sub 

committees, with key committees helmed by independent directors. 

‘Sammaan’ in Indian languages means "respect," "honor," "courtesy," and "dignity”. The  Company intends its brand, and the meaning of the word ‘Sammaan’ in the Indian context, to  emphasise and convey to its stakeholders, a customer-centric approach, a sense of pride in  buying a house or owning a business [the focus of its two retail loan products], propriety [in]  and dignified business conduct. As a systemically-important lender, a mortgage-focused  lender, and a company with a varied set of stakeholders including investors, regulators,  bankers and other lenders, credit rating agencies etc., the brand name ‘Sammaan’ connotes  and conveys what our business stands for and how it is run. 

Strategically, our business will continue to be retail-focused built on the two loan products of  affordable home loans and mortgage-backed loans to micro, medium and small businesses.  We will pursue AUM growth in an asset-light model, working as an origination-engine to source  loans in co-lending and sell-down partnerships with banks and financial institutions. The  priority and focus in the near-term is RoE growth and this will be driven by the earnings  accretive nature of the asset-light retail business model. 

Over the course of the last five years we have built a fortress balance sheet, with high capital  adequacy [30%+ on consolidated basis], low leverage [~2.0x], stable NPAs, and high  provisioning buffers. This fortress balance sheet built on these parameters will continue to be  the foundation of our growth.