Sammaan Capital Gains As Avenir Moves To Take Majority Stake

The Reserve Bank of India (RBI) has approved a major stake acquisition in Sammaan Capital by Avenir Investment RSC, which is owned and controlled by Abu Dhabi-based International Holding Company.

Following the announcement, Sammaan Capital shares surged up to 11.2% on Wednesday, touching ₹154 on the National Stock Exchange (NSE) at 10:17 AM, 25 March.

The proposed deal, worth ₹8,850 crore, could eventually give the investor a controlling stake of up to 66.65% in the mortgage-focused non-banking financial company (NBFC).

What Has The RBI Approved?

The central bank has also approved an indirect change in control of its subsidiary, Sammaan Finserve, and allowed a waiver on the public notice requirement.

As part of the October 2025 agreement, Avenir will initially pick up a 41.23% stake through a preferential issue. This involves issuing over 33 crore shares at ₹139 each, along with additional warrants to complete the ₹8,850 crore investment.

An open offer will follow, which could take Avenir’s total stake to around 63.36%, effectively giving it control of the company. The Competition Commission of India has already approved the deal, while final clearance from the Securities and Exchange Board of India (SEBI) is still awaited.

Why Is This Deal Significant?

First and foremost, this is one of the largest deals by a Middle Eastern firm in India’s financial services sector. It has been expanding its presence in India with the backing of Sheikh Tahnoon bin Zayed Al Nahyan, having invested $2 billion in Adani Group companies and has also acquired a stake in Haldiram Snacks Foods.

The firm has also partnered with BlackRock to launch a $1 billion reinsurance business in 2025. This is yet another large deal by the firm in India’s financial services sector.

The deal is positive for Sammaan Capital, as it would help improve its balance sheet and aid its expansion plans in mortgage lending. Currently, the company serves 1.6 million customers with 220 branches across India.

What Conditions Has RBI Imposed?

The RBI approval comes with a few important riders. Sammaan Capital will not be allowed to raise public deposits going forward. Avenir must complete the share transfer within one year, failing which the approval will lapse.

There is also a clause that if Avenir’s holding drops below 26% after the transaction, it will need fresh RBI approval to raise its stake again beyond that threshold.

In addition, the RBI has approved the appointment of IHC nominee Alwyn Dinesh Crasta as a director on the company’s board for up to five years.

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How Did The Stock React?

The market reaction was swift. Sammaan Capital hit the upper circuit on the NSE today in early morning trade and gained sharply on the Bombay Stock Exchange (BSE), outperforming the broader Nifty 50, which rose about 1.4% during the session.

Despite the rally, the stock has seen some pressure in recent weeks. It is down nearly 12% over the past month, although it remains up about 28% over the last year and has gained modestly in 2026 so far.

With regulatory approvals falling into place, investors will now track how quickly SEBI clears the transaction and whether the open offer goes through as planned.

Sources

Economic Times

NDTV Profit

CNBC TV18