Sammaan Capital Confirms Timely Interest Payment

Sammaan Capital Limited has confirmed the timely payment of interest on its Secured Redeemable Non-Convertible Debentures (NCDs), totaling ₹35.19 lakh. This payment, made on March 24, 2026, a day ahead of the March 25, 2026, due date for a debenture series with a total issue size of ₹3,702.74 lakh, demonstrates the company's commitment to its financial obligations.

Significance of the Payment

The confirmation of this early interest payment signals financial discipline and the company's immediate capacity to meet its debt obligations, a crucial indicator amidst other significant developments.

Company Background and Recent Events

Sammaan Capital, previously Indiabulls Housing Finance, is a major mortgage-focused Non-Banking Financial Company (NBFC) operating in 22 Indian states. It holds strong credit ratings of 'AA/Stable' from CRISIL and ICRA. In a key development on March 24, 2026, Sammaan Capital secured RBI approval for an ₹8,850 crore acquisition by Avenir Investment RSC Ltd, a unit of Abu Dhabi's International Holding Company (IHC). This acquisition awaits final SEBI approval and is expected to introduce significant foreign investment. The company also transitioned from a Housing Finance Company (HFC) to an NBFC in June 2024, increasing its business flexibility. Sammaan Capital has been active in raising capital, securing ₹3,693 crore through a rights issue in FY24 and ₹1,300 crore via a Qualified Institutional Placement (QIP) in FY25.

Regulatory Scrutiny

However, the company has also faced regulatory scrutiny. In November 2025, the Supreme Court criticized investigative agencies' handling of probes into alleged financial irregularities and money laundering connected to the company, ordering the CBI to file an FIR. Sammaan Capital maintains these investigations relate to former promoters, not current operations.

Potential Risks

Significant risks remain. These include the ongoing Supreme Court-directed investigations into alleged financial irregularities and money laundering by former promoters, which could lead to further regulatory or legal action. There is also a potential impact of these probes on investor sentiment and future access to capital markets, despite today's positive debt servicing news.

Peer Landscape

Sammaan Capital operates in the NBFC and housing finance sector, competing with major players like Aadhar Housing Finance and LIC Housing Finance. Its 'AA/Stable' rating aligns with many peers in the upper-layer NBFC category.

What to Track Next

Investors will be tracking the final SEBI approval for the Avenir Investment RSC Ltd acquisition and its integration. Further developments in the Supreme Court-directed investigations are also critical. The company's financial performance and growth trajectory post-acquisition, alongside continued adherence to debt servicing, will be closely watched.