31/03/2026 07:46 AST
Abu Dhabi-based International Holding Company has announced it has received "all requisite regulatory approvals" to acquire a majority stake in Sammaan Capital, an Indian private housing finance company, for a total transaction value of Dh3.6 billion.
Currently, IHC holds a 26.9 percent stake in the financial company, and the transaction will be executed in multiple stages in accordance with applicable Indian regulations, IHC said in a disclosure on the Abu Dhabi Securities Exchange, where it is listed.
The transaction, valued at approximately $1 billion (Dh3.6 billion), will see the remaining stake acquired through share warrants over an 18-month period. In addition, a mandatory tender offer will be launched to acquire up to 26 per cent of the company's expanded share capital from public shareholders, in compliance with Indian securities regulations.
Following the completion of all stages, IHC will be classified as a promoter of Sammaan Capital, reinforcing its strategic expansion into India's financial services sector. The company will also become part of IHC's newly formed financial services investment platform, Judan Financial, supporting the group's broader growth ambitions in the sector.
The deal marks a significant milestone in IHC's expansion into India, one of the world's fastest-growing major economies, where non-banking financial companies continue to play a critical role in bridging the gap between traditional banking services and rising credit demand.
Syed Basar Shueb, CEO of IHC, said the acquisition represents an important step in the group's long-term strategy to grow its presence in India's financial services sector, highlighting opportunities to enhance capabilities, including through the adoption of artificial intelligence.
Gagan Banga, CEO and Managing Director of Sammaan Capital, said the partnership marks a new phase for the company, bringing capital strength and long-term alignment to support future growth, expand its reach, and continue delivering value to customers and stakeholders.
The investment is expected to strengthen Sammaan Capital's balance sheet, support its next phase of growth, and enhance its ability to deliver innovative lending solutions across underserved segments. Completion of the transaction remains subject to customary closing conditions.
Sammaan Capital, which is publicly listed on the Bombay Stock Exchange and National Stock Exchange of India, is among the country's largest non-banking financial companies, primarily focused on mortgage lending. The company operates through 220 branches across more than 150 towns and cities, employing over 4,400 people and playing a key role in advancing financial inclusion.
Khaleej Times
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