Sammaan Capital bags all approvals for stake acquisition by Avenir Investment

Sammaan Capital Ltd (formerly Indiabulls Housing Finance Ltd) said it has received all approvals for majority stake acquisition by Avenir Investment RSC Ltd which is owned and controlled by International Holding Company PJSC.

The company and the investor are now engaged to conclude the proposed transaction at the earliest.

The Securities and Exchange Board of India (SEBI) recently approved the applications made by Sammaan Asset Management Ltd (SAML) which is a wholly-owned subsidiary of the company.

For the proposed transaction, the company had previously received requisite approvals from the shareholders, the lenders/ creditors, the stock exchanges, the Competition Commission of India (CCI), and the Reserve Bank of India (RBI). 

“Now with the receipt of the SEBI approvals, all regulatory approvals for consummation of the Proposed Transaction are in place,” the company said in a filing with exchanges.

The proposed transaction will be effected in accordance with the terms of the share subscription agreement dated October 2, 2025 entered into between the company and the investor.

As per the agreement the investor proposes to invest an aggregate amount of approximately ₹8,849.99 crore by way of the preferential issue.

Upon completion of the preferential issue, the investor will hold approximately 41.2% of the paid-up equity share capital of the company.

Further, upon completion of the preferential issue and the open offer, and assuming full uptake in the open offer, the investor will hold approximately 63.3% of the paid-up equity share capital of the company, it said in the filing.