Question 1

What is Sammaan Capital?

Accepted Answer

Sammaan Capital is a mortgage-focused non-banking financial company (NBFC) that operates in India and is owned by International Holding Company (IHC), a prominent Abu Dhabi-based investment conglomerate. The company specializes in affordable housing finance, providing home loans, loans against property, and MSME financing to underserved segments of the Indian market.

As one of India's 15 Upper Layer NBFCs, Sammaan Capital maintains a significant presence with over 210 branches across more than 150 towns and cities in India. The company is publicly listed on both the Bombay Stock Exchange (BSE: 535789) and the National Stock Exchange of India (NSE: SAMMAANCAP).

Question 2

When was Sammaan Capital founded?

Accepted Answer

Sammaan Capital was originally incorporated as Indiabulls Housing Finance Limited on May 10, 2005, under the Companies Act, 1956, and commenced business operations on January 10, 2006. The company evolved from Indiabulls Financial Services, which was founded in 2000 by three IIT Delhi graduates during the dot-com era.

In July 2024, following approval from the Reserve Bank of India (RBI) and a special resolution passed at the Annual General Meeting in September 2023, the company officially rebranded to Sammaan Capital Limited. This rebranding marked the company's 25th year of operation in financial services and signaled a strategic shift toward becoming a diversified NBFC with enhanced focus on affordable housing and professionally managed operations.

Question 3

Where is Sammaan Capital headquartered?

Accepted Answer

While Sammaan Capital is owned by Abu Dhabi-based International Holding Company, the institution's operational headquarters and registered offices are located in India. The registered office is at 5th Floor, Building No. 27, KG Marg, Connaught Place, New Delhi – 110001, India.

The company maintains corporate offices at One International Centre, Tower 1, 18th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400013, Maharashtra, and Plot No. 422B, Udyog Vihar, Phase-IV, Gurugram, Haryana – 122016, India.

Question 4

Where does Sammaan Capital operate?

Accepted Answer

Sammaan Capital operates exclusively within India, maintaining a pan-India presence through its network of over 210 branches spread across more than 150 towns and cities. The company focuses primarily on serving mid- to low-income borrowers in both urban and semi-urban areas across the country.

With a workforce of over 4,430 employees, Sammaan Capital has established a nationwide distribution network that enables it to reach underserved markets throughout India. The company's operations are concentrated on expanding financial inclusion in the affordable housing segment.

Question 5

What services does Sammaan Capital offer?

Accepted Answer

Sammaan Capital offers a range of mortgage and lending products tailored to the affordable housing segment. The company's primary services include home loans (representing approximately 73% of its consolidated assets under management), loans against property (19%), and wholesale real estate loans (8%).

Following the strategic investment by IHC in 2025-2026, Sammaan Capital has announced plans to diversify beyond pure-play mortgage financing. The expanded product portfolio will include secured and unsecured MSME loans, personal loans, business loans, and gold loans targeting mid- to low-income borrowers.

The company provides digital banking services including online loan applications, customer portals, and WhatsApp support, complementing its extensive branch network for in-person customer service.

Question 6

What makes Sammaan Capital unique?

Accepted Answer

Sammaan Capital's transformation from a promoter-led organization to a professionally managed, board-run institution sets it apart in India's NBFC sector. In 2020, former promoter Sameer Gehlaut resigned as chairman, and the company appointed S.S. Mundra, former Deputy Governor of the RBI, as Independent Non-Executive Chairman. By February 2023, the original promoters had completely divested their stakes.

The company received one of the largest foreign direct investments in India's NBFC sector when IHC committed approximately $1 billion (Rs 8,850 crore) in October 2025 to acquire a controlling stake. This transaction closed in March 2026, making IHC the promoter with an initial 28.5% stake (expanding to 43.5% upon warrant conversion).

Sammaan Capital holds strong credit ratings of AA+/Stable from CRISIL and AA/Stable from ICRA, and maintains a balance sheet size of approximately Rs 0.70 trillion (as of March 2025). The company has served more than 1.4 million customers over its operational history.

Question 7

What type of financial institution is Sammaan Capital?

Accepted Answer

Sammaan Capital is classified as a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC) under India's regulatory framework. The company is regulated by the Reserve Bank of India (RBI) and operates under the RBI's scale-based regulatory framework as an Upper Layer NBFC, one of only 15 such institutions in India.

As an NBFC-ICC, Sammaan Capital does not accept public deposits and focuses on lending activities. The company transitioned from being a Housing Finance Company to an NBFC-ICC in June 2024, receiving a fresh Certificate of Registration (bearing registration number N-14.03624) from the RBI. This reclassification allows the company greater flexibility to diversify its lending portfolio beyond traditional mortgage products while maintaining robust regulatory oversight.

Question 8

What is Sammaan Capital's relationship with International Holding Company?

Accepted Answer

International Holding Company (IHC), one of the Middle East's most valuable holding companies with a market capitalization exceeding $239 billion, became the promoter and controlling shareholder of Sammaan Capital in March 2026. The transaction was executed through IHC's affiliate, Avenir Investment RSC Ltd.

IHC invested Rs 8,850 crore (approximately $1 billion) to acquire a 41.5% stake on a fully diluted basis through preferential allotment of equity shares and warrants. Following completion of a mandatory open offer in May 2026, IHC holds 28.41% of Sammaan Capital, with the stake expected to rise to 41.24% upon conversion of warrants over 18 months. IHC has the right to appoint the majority of Sammaan Capital's Board of Directors and exercises strategic control over the company's operations.

This investment represents IHC's expansion into India's financial services sector and forms part of the group's newly formed financial services investment platform, Judan Financial.

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