Kamal Ghorui
MUMBAI: Sammaan Capital, formerly Indiabulls Housing Finance, will pivot to a multi-asset lender spanning personal/gold/MSME loans after its acquisition by Abu Dhabi-based International Holding Company for about Rs 8,850 crore, making it a multinational NBFC.IHC’s affiliate Avenir Investment RSC will take a 41.5% stake via preferential shares/warrants, with scope to cross 63% through a mandatory tender offer. The firm will sit as a core investment under Judan Financial, anchoring India presence while tapping its parent to build an India-focused private-credit platform. Built as an AI-enabled platform, UAE-based Judan Financial is positioned as a diversified global financial services investment platform.Managing director and chief executive Gagan Banga said the deal is the largest so far and Rs 5,600 crore has already come in, with Rs 3,200 crore due in three tranches over 18 months, taking total inflow to Rs 8,850 crore.He said the capital will fuel balance-sheet expansion, with up to 4x leverage translating into Rs 50,000–60,000 crore asset growth. He said the firm is funded for five years and targets a Rs 1.3–1.5 lakh crore loan book by 2029, implying about 25% CAGR.Expansion will widen city reach from about 200 to 500 and scale branches to 1,500. On ownership, he said the stake will start at 41.5% and may rise to 63% after the open offer, though he expects limited tendering and a 41–45% holding.
