Sammaan Capital stock dips 3% even as IHC eyes majority stake; here's why

Abu Dhabi-based Avenir Investment RSC, an affiliate of International Holding Company, will acquire a 43.46 per cent stake in Sammaan Capital through a ₹8,850 crore preferential allotment.

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Sammaan Capital share price today

 

Shares of Sammaan Capital Limited (formerly Indiabulls Housing Finance) slipped 3 per cent to ₹163.86 on the National Stock Exchange (NSE) in Friday’s intra-day trade on profit booking after the company said that a unit of Abu Dhabi’s International Holding Company (IHC) has entered into an agreement to invest nearly $1 billion (₹8,850 crore) for a 43.46 per cent stake in the non-banking financial company (NBFC).

 

In the previous four trading days, between September 25 and October 1, the stock price of Sammaan Capital had rallied 25 per cent.

 

At 09:24 AM; Sammaan Capital was trading 2.6 per cent lower at ₹164.90, as compared to 0.20 per cent decline in the Nifty 50. A combined 18.3 million equity shares changed hands on the NSE and BSE. 

 

Abu Dhabi's IHC to buy stake in Sammaan Capital

 

Abu Dhabi-based Avenir Investment RSC, an affiliate of IHC, will acquire a 43.46 per cent stake in Sammaan Capital through a ₹8,850 crore ($1 billion) preferential allotment, marking the largest-ever primary capital infusion in an Indian NBFC. The deal involves issuing 333 million shares at ₹139 apiece to raise ₹4,587 crore and two warrant tranches worth ₹1,207 crore and ₹3,055 crore. This will trigger an open offer for an additional 26 per cent. Avenir will gain control, be classified as promoter, and secure board nomination rights.

 

Avenir’s ₹8,850 crore infusions is a game-changer for Sammaan Capital, boosting stability, liabilities access, and credit profile. Trading at ~0.6x P/B with a ₹14,045 crore market cap, the stock could see meaningful rerating as promoter control shifts to a global strategic investor, strengthening governance and growth visibility, ICICI Securities said in a note.

 

Goldman Sachs (Singapore), ICICI Prudential MF buy stake in Sammaan Capital

 

Meanwhile, Goldman Sachs (Singapore) PTE – ODI and ICICI Prudential Mutual Fund (MF) bought a stake in Sammaan Capital via open market deals.

 

On Wednesday, October 1, 2025, Goldman Sachs (Singapore) Pte – ODI purchased 6.63 million equity shares of Sammaan Capital for ₹109 crore via bulk deals on the NSE. The foreign portfolio investor acquired shares at a price of ₹164.67 per share, the exchange data shows.

 

On Monday, September 29, 2025, ICICI Prudential MF purchased 4.35 million equity shares representing 0.52 per cent of total equity of Sammaan Capital via bulk deal on the NSE, the exchange data shows. ICICI Prudential MF bought shares at an average price of ₹151.95 per share. 

 

Sammaan Capital overview/outlook

 

The Group is mainly engaged in the housing finance and mortgage-backed lending business, and all other activities revolve around this main business of the company.

 

In August 2025, the Reserve Bank of India (RBI) revised the co-lending arrangement directions, significantly expanding the framework beyond priority sector lending to now include non priority sector segments as well. The new directions broaden eligible participants to include banks, NBFCs, HFCs, all India financial institutions and permit arrangements such as NBFC to NBFC co-lending.

 

The recent RBI's draft circular on co-lending had played a pivotal role in accelerating the company’s business model. The updated guidelines formally thereafter have widened the scope and the mandate enhanced includes borrower transparency and unified asset classification, which from a long-term perspective is for the better, Sammaan Capital said in its Q1FY26 earnings conference call.

 

Meanwhile, the Indian housing finance sector continues to exhibit strong fundamentals and is undergoing a multi-decade expansion cycle. Market experts project the sector to grow at a compound annual growth rate (CAGR) of 24.1 per cent through 2033, driven by favorable demographics, improving affordability, increasing urbanisation, and robust government support. 

 

Sammaan Capital in its FY25 annual report said the company is well-positioned to capture this opportunity. With a differentiated origination strategy, asset-light business model, and proven co-lending execution across affordable housing and MSME segments, the company is poised to be a key enabler of inclusive credit penetration across India’s emerging geographies.