IHC bets on India’s housing finance sector with Rs 8,850 crore investment through Avenir Investment RSC
Global investment firm International Holding Co (IHC) is set to invest Rs 8,850 crore ($997.7 million) to acquire a 43.5% stake in Indian NBFC Sammaan Capital, the lender announced in a stock exchange filing. The investment will be made through IHC’s affiliate, Avenir Investment RSC, which will subscribe to 330 million equity shares and 306.7 million convertible warrants at Rs 139 each. The deal will also trigger an open offer to acquire an additional 26% as per regulatory guidelines, reported moneycontrol.com.
The $1 billion move underscores IHC’s confidence in India’s financial sector and Sammaan Capital’s leadership in affordable housing and mid-market mortgage lending
Syed Basar Shueb, CEO of IHC, said the investment reflects the company’s commitment to widening access to capital in India and supporting Sammaan Capital’s adoption of AI for enhanced lending solutions. Sammaan Capital, with 220 branches in 150 towns and over 4,400 employees, will leverage IHC’s global expertise to accelerate its growth. The deal awaits approvals from the Reserve Bank of India, the Competition Commission of India, and other customary conditions.
Earlier, Himanshu Mody, noted for turning around Suzlon, was appointed Deputy CEO of Sammaan Capital to strengthen capital-raising and strategic planning capabilities. Following the announcement, Sammaan Capital shares fell over 3% in early trade but remain up nearly 10% YTD and 5% over the last year. Analysts project India’s housing finance market, currently worth Rs 33 lakh crore ($372 billion), to more than double by FY30 due to urbanization, affordability, and government schemes.
