International Holding Company PJSC, Abu Dhabi (IHC) has become the promoter of Sammaan Capital Limited (Sammaan Capital) after a preferential allotment that results in a 41.5 per cent stake on a fully diluted basis. The transaction involved an initial tranche of Rs 56,520 mn and a further Rs 31,980 mn to be received within 18 months upon conversion of warrants into fully paid equity shares. A mandatory open offer at Rs 139 per fully paid equity share will be conducted under applicable regulations and, assuming full uptake, Avenir Investment RSC Ltd (Avenir) acting for IHC will hold 63.3 per cent.

IHC will consolidate Sammaan Capital within its global financial services platform, Judan Financial, and bring substantial capital, diversified funding access and institutional relationships to support growth. IHC's market capitalisation is reported at about USD 232 bn, with a rupee equivalent of roughly Rs 22 tn, and Judan Financial is described as managing assets in excess of Rs 22.4 tn. The backing is expected to strengthen Sammaan Capital's balance sheet and enhance its credit profile through access to global funding and rating support.

Sammaan Capital will retain compliance and risk management as operational priorities while transitioning from a mortgage financier to a diversified non?bank financial company targeting mid to low?income borrowers. The company aims to expand its loan product suite to more than 15 offerings and its branch network from about 200 to over 1,500, serving roughly 50 mn potential customers and growing the team to over 10,000 employees by financial year 2029. The strategy emphasises responsible lending, digital and artificial intelligence enabled capabilities and strengthened governance.

The investment follows several years of balance sheet remediation and positioning of the company for high?quality growth and is intended to support ambitious asset growth and improved returns on assets and equity. Management changes and investments in technology are planned to enable scalable expansion while maintaining prudent risk controls. Completion of the transaction remains subject to customary closing conditions and the timely conclusion of the open offer in line with regulatory timelines.