Abu Dhabi's International Holding Company has successfully acquired control of Sammaan Capital through an open offer and preferential allotment, marking one of the largest foreign investments into India's NBFC sector. According to reports from Business Standard, the change in control formally ends Sammaan Capital's long-held status as a professionally managed company without a promoter group. The board approved the classification of Avenir Investment RSC Ltd, an IHC unit, as promoter with effect from May 15 following the acquisition of control under Sebi takeover rules.
IHC, through Avenir Investment, now owns 28.41% of Sammaan Capital after the completion of the transaction and open offer on May 14. As reported by Business Standard, the stake is expected to rise to 41.24% on a fully diluted basis once warrants are converted over the next 18 months. Until March 2026, about 59% of the lender was owned by institutional investors, including mutual funds and foreign portfolio investors, with the remainder held by retail shareholders.
The Abu Dhabi conglomerate's total commitment to the transaction stands at ₹8,850 crore, including ₹5,652.75 crore already infused through equity shares and subscription warrants, according to the filing reported by Business Standard. The company described the deal as among the largest foreign direct investments into India's non-banking financial company sector.
The board also approved the appointment of Alwyn Dinesh Crasta, group chief financial officer at IHC, as an additional non-executive, non-independent director, subject to shareholder approval. As reported by Business Standard, this appointment reflects the new promoter's governance structure for the NBFC.
