Sammaan Capital shares soar 8% after RBI approves acquisition by Abu Dhabi's IHC

Shares of Sammaan Capital gained as much as 8% to their day's high of Rs 149 on the BSE on Wednesday after the Reserve Bank of India (RBI) approved the proposed acquisition of a controlling stake of 66.65% by Avenir Investment RSC, which is owned and controlled by Abu Dhabi-based International Holding Company (IHC).

Avenir Investment RSC has proposed to invest nearly Rs 8,850 crore by way of a preferential issue. This is one of the largest investments by a Middle Eastern entity in India's financial services sector.

After the completion of the preferential issue, Avenir Investment will hold nearly 41.23% stake in the company, while the rest will be acquired through an open offer, Sammaan Capital, formerly called Indiabulls Housing Finance, said in an exchange filing.


RBI has, however, set three conditions for the deal to materialise. Sammaan Capital cannot raise deposits from the public. Avenir Investment RSC will have to complete the transfer of shares within a period of one year. Failure will result in cancellation of the approval.

The acquisition now awaits final approval from SEBI. “The proposed transaction will be effected in accordance with the terms of the share subscription agreement dated October 2, 2025, entered into between the company and the investor, and fulfilment of other contractual conditions,” the company said.

The Abu Dhabi-headquartered IHC is backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security advisor and one of the most powerful financiers in the world. IHC, the largest listed company in the UAE, has been on an aggressive acquisition spree globally. In India, it has already made large-ticket bets, including a $2 billion investment in Adani Group companies through preferential allotments in 2022, and more recently, a minority stake in Haldiram Snacks Foods in partnership with Alpha Wave Global. In 2025, the group also launched a $1 billion reinsurance joint venture with BlackRock.

Sammaan Capital is a mortgage-focused non-banking finance company (NBFC) and services 1.6 million customers through 220 branches. The shares of the company have fallen nearly 2% in the past five days, and around 12% in the past one month.

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