A major ownership shift is underway in the financial sector. Sammaan Capital (SCL) has formally entered the IHC Group fold, following a strategic preferential allotment of equity shares and warrants to Avenir Investment RSC.
The deal sees Abu Dhabi-based global conglomerate International Holding Company PJSC (IHC) secure a key 41.5% stake in the company. This move makes Sammaan Capital an official IHC affiliate, and also signals strong cross-border confidence in India's financial services landscape.
So what does this deal mean for India’s NBFC space? After this acquisition IHC will be identified as the promoter of Sammaan Capital. Thus, taking a long-term stewardship and lead on strategic control of the company.
According to latest reports, IHC is one of the world’s largest investment firms with a market capitalization of AED 876 billion ($239 billion). Sammaan Capital expects that with IHC’s entry it can gain access to global funding networks, strong capital support, and institutional relationships.
The investment company said this backing will enhance its financial flexibility and support its growth ambitions. In a regulatory finding, Samman Capital highlights that “As an IHC Group Company, Sammaan Capital will leverage the strong AA sovereign credit rating of the United Arab Emirates to strengthen its domestic and international credit ratings.”
As part of its liability management strategy, Sammaan Capital has initiated steps to optimise its debt structure. The Asset Liability Management Committee (ALCO) has approved an offer to acquire the company’s outstanding non-convertible debentures (NCDs). The company also believes that this move marks the beginning of a structured liability management programme aimed at rebalancing obligations, improving maturity alignment, and benefiting from a declining cost of funds.
Samman Capital further explained that “The Company hereby invites holders of the ISINs specified in the Annexure below to tender their NCDs at par through the exchange, utilising surplus liquidity to optimise its liability profile.”