Sammaan Capital Limited has entered a transformative phase after International Holding Company PJSC (IHC), one of the world’s largest investment firms based in Abu Dhabi, acquired a significant stake in the company, becoming its promoter.
The investment, executed through IHC’s affiliate Avenir Investment RSC Ltd., involves a total commitment of approximately $1 billion (around ₹8,850 crore). As part of the transaction, IHC will acquire a 41.5% stake in Sammaan Capital through a preferential allotment of equity shares and warrants. Of this, around 26.9% has already been acquired, with the remaining stake to be completed over the next 18 months via warrant conversion.
Sammaan Capital has already received an initial infusion of ₹5,652 crore, with an additional ₹3,198 crore expected upon conversion of warrants. IHC will also launch a mandatory open offer to acquire up to 26% stake from public shareholders at ₹139 per share. Upon full completion, IHC’s total holding could rise to approximately 63.3%.
Following the transaction, IHC will be classified as the promoter and will assume strategic control, including the right to appoint a majority of the board and guide the company’s long-term direction.
This investment positions Sammaan Capital—one of India’s upper-layer NBFCs—among a select group of large non-banking financial companies backed by a global multinational conglomerate. The partnership is expected to significantly strengthen the company’s capital base, enhance access to global funding, and improve its credit profile by leveraging the UAE’s strong sovereign rating.
As part of IHC’s broader financial services strategy, Sammaan Capital will be integrated into its newly established global platform, Judan Financial, which manages assets exceeding $235 billion. The platform aims to consolidate IHC’s banking, fintech, and asset management interests across more than 13 countries, with Sammaan Capital anchoring its India operations.
Strategically, Sammaan Capital plans to transition from a pure-play mortgage lender into a diversified NBFC. The company intends to expand into a wide range of retail lending products, including MSME loans, personal loans, business loans, and gold loans, targeting mid- and low-income segments across India.
The company has outlined ambitious growth targets, aiming to expand its branch network from over 200 currently to more than 1,500 by FY2029, while increasing its customer base from 1.4 million to around 50 million. It also plans to significantly scale its workforce and product offerings during this period.
Commenting on the development, Syed Basar Shueb, CEO of IHC, said the investment marks a key step in the group’s strategy to expand in India’s financial services sector, highlighting opportunities to enhance capabilities through technology and artificial intelligence. Gagan Banga, Managing Director and CEO of Sammaan Capital, stated that the partnership brings long-term growth capital and global expertise, which will help the company scale responsibly while strengthening governance, compliance, and risk management practices.
The transaction underscores IHC’s growing focus on India as a key strategic market and reflects confidence in the country’s rapidly expanding NBFC sector, which plays a critical role in driving financial inclusion and meeting rising credit demand.