IHC's $1 Billion Investment Secures Promoter Status in

SAMMAANCAP

(formerly Indiabulls Housing Finance), an upper-tier NBFC, announced a landmark deal where Avenir Investment RSC Ltd, a unit of Abu Dhabi’s International Holding Company (IHC), will invest nearly $1 billion (₹8,850 crore) for a majority stake. → This massive primary capital infusion marks IHC's entry into India's financial services sector and is hailed as the largest single-investor primary capital infusion into an Indian NBFC. → The investment, approved by the board, involves a preferential allotment of 330 million equity shares and 307 million convertible warrants to Avenir Investment. → The equity shares were issued at ₹139 each (an 18% discount to the previous closing price), raising ₹4,587 crore, with the warrants accounting for the remaining ₹4,263 crore. → Upon completion and full conversion of warrants, IHC will hold up to 43.46% of Sammaan Capital and officially assume promoter status. → Assuming promoter status triggers a mandatory open offer for an additional 26% stake, which grants minority shareholders an exit option due to the change in ownership. → Depending on the open offer subscription, IHC's final stake (fully diluted) could range between 41.2% and 63.4%. → As the new promoter, IHC gains the right to nominate the majority of Sammaan Capital's board of directors and is granted certain pre-emption and information rights. → The investment underscores IHC’s confidence in the long-term potential of India’s financial sector and will focus on accelerating innovative credit solutions, potentially through the adoption of AI in lending. → The transaction is subject to multiple regulatory and shareholder approvals, including from the RBI, SEBI, and the Competition Commission of India. → As of June 30, Sammaan Capital managed Assets Under Management (AUM) of ₹62,378 crore and reported a net profit of ₹334 crore for the April-June quarter.