Sammaan Capital surges 12% as RBI approves Avenir Investment acquisition, says this 

Sammaan Capital Ltd (erstwhile Indiabulls Housing Finance Limited) saw its shares surging 12 per cent in Wednesday's trade after the NBFC informed stock exchanges that the Reserve Bank of India (RBI) has given nod to the proposed acquisition of a controlling stake of 66.65 per cent by Avenir Investment RSC, owned and controlled by Abu Dhabi-based International Holding Company.

Sammaan Capital said the RBI has allowed the company and Sammaan Finserve's for waiver of the public notice period. Pursuant to the proposed transaction, Avenir Investment RSC proposes to invest an aggregate amount of approximately Rs 8,849.99 crore, by way of preferential issue.

Following the development, the stock rose 11.83 per cent to hit a high of Rs 154.90 on NSE. "Upon completion of the preferential issue, the Acquirer shall hold approximately 41.23 per cent(1) 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 acquirer shall hold approximately 63.36 per cent(2) of the paid‑up equity share capital of the company," Sammaan Capital  said.

It said only the regulatory approvals pending for consummation of the proposed transaction are from the Securities and Exchange Board of India (SEBI), for which the company and the investor are in active engagement to ensure expeditious receipt of the approvals, towards timely completion of the proposed transaction.

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, and fulfilment of other contractual conditions, Sammaan Capital said.

"Pursuant to applicable provisions of the Listing Regulations, we wish to inform that the Reserve Bank of India (“RBI”) has, vide its letter dated March 24, 2026, approved the applications made by the Company and Sammaan Finserve Limited (formerly known as Indiabulls Commercial Credit Limited) (“SFL”) (i.e., wholly owned subsidiary of the Company) respectively, in respect of undertaking the proposed transaction, including indirect change of control of SFL pursuant to the proposed transaction," it noted.