Sammaan Capital to Repurchase NCDs Maturing up to July 31, 2026, at Par
Sammaan Capital is repurchasing Non-Convertible Debentures (NCDs) maturing up to July 31, 2026, at par, utilizing surplus liquidity. This follows IHC's acquisition of a 41.5% stake, making it the promoter. The company expects enhanced financial flexibility and a lower cost of funds. Interested holders can contact bondpurchase@sammaancapital.com by April 15, 2026.
The NCD repurchase directly impacts the company's debt structure and cost of funds. The strategic backing from IHC is significant and expected to enhance future growth and credit ratings, suggesting a medium-term positive impact.
The repurchase of NCDs at par, coupled with the strategic acquisition by IHC, indicates a proactive approach to optimizing the company's financial structure, reducing costs, and strengthening its capital base, which are positive developments.
Sammaan Capital Limited (SCL), formerly Indiabulls Housing Finance Limited, has announced an offer to repurchase its outstanding Non-Convertible Debentures (NCDs) maturing up to July 31, 2026, at par. This initiative is part of a structured liability management program aimed at optimizing the company's debt structure, rebalancing obligations, improving maturity alignment, and reducing the cost of borrowings. The company is utilizing its surplus liquidity for this purpose.
The decision follows SCL becoming an IHC Group Company after a preferential allotment of equity shares and warrants to Avenir Investment RSC Ltd., an affiliate of International Holding Company PJSC (IHC). IHC, a major investment firm with a market capitalization of AED 876 billion (USD 239 billion), will now be classified as the Promoter of Sammaan Capital, bringing substantial capital, global funding networks, and institutional relationships. This backing is expected to enhance SCL's financial flexibility, support its growth ambitions, and strengthen its domestic and international credit ratings, leveraging the United Arab Emirates' AA sovereign credit rating.
As a result of IHC's backing and anticipated credit rating upgrades, SCL expects a meaningful decline in its cost of funds and access to larger, longer-dated pools of capital. The Asset Liability Management Committee (ALCO) has authorized the NCD repurchase offer. Holders of the specified ISINs can tender their NCDs at par through the exchange. The company may extend this repurchase program to longer-dated maturities based on investor response, aiming to further strengthen its liability profile and lower borrowing costs. All acquired NCDs will be held as treasury stock until maturity.
NCD holders interested in participating in this offer can initiate the transaction process by writing to bondpurchase@sammaancapital.com prior to April 15, 2026. The announcement also lists the specific ISINs eligible for repurchase.
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Sammaan Capital Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Sammaan Capital Limited. Read the original for the full detail.