International Holding Company (IHC) has committed a USD 1 billion investment in Sammaan Capital Limited, a leading Indian non-banking financial company (NBFC) specialising in mortgage lending. This strategic infusion secures IHC a controlling stake of about 41.2% in Sammaan Capital, enabling it to influence the company’s board and future direction. Sammaan Capital, previously known as Indiabulls Housing Finance, operates over 220 branches across more than 150 towns and cities in India, serving around 680,000 customers with home loans totaling approximately USD 19 billion.
The investment underscores IHC’s confidence in the robustness and potential of India’s NBFC sector, recognized for bridging credit gaps and fostering financial inclusion amid the country’s rapidly growing economy.
With this capital, Sammaan Capital plans to intensify its focus on affordable housing finance, targeting middle-income households and expanding its reach to Tier 4 and Tier 5 cities, to significantly increase its asset under management (AUM) to INR 1 trillion (approximately USD 11.27 billion) by 2027. The infusion will also support Sammaan’s adoption of advanced technologies, including artificial intelligence to enhance its credit assessment and lending solutions, aiming to boost operational efficiency and customer engagement. Management further envisions broadening its product portfolio to include gold loans and personal loans, targeting lower- to middle-income customers.
Gagan Banga, Managing Director and CEO of Sammaan Capital, expressed optimism about the partnership with IHC, highlighting the alignment in vision and the opportunity to leverage IHC’s capital and expertise for the company’s growth. Syed Basar Shueb, CEO of IHC, underscored India as a core strategic market with strong growth potential. He conveyed IHC’s confidence in Sammaan Capital’s role in enabling home ownership and empowering small businesses.
Also Read: GreyLabs AI secures Series A funding to accelerate AI-led BFSI transformation
This transaction marks one of the largest capital infusions in India’s NBFC landscape from a global investor and reflects growing cross-border confidence in India’s financial services market. The deal is subject to regulatory approval by the Reserve Bank of India and the Competition Commission of India. Under IHC’s stewardship, Sammaan Capital aims to reestablish itself among India’s top NBFCs by 2030, continuing its mission to promote affordable housing and financial empowerment across the country. This partnership heralds a new growth phase driven by innovation, technology, and expanded market access for Sammaan Capital.
