Whalesbook
Toh bhaiyo aur behno, Sammaan Capital ne ekdum SOLID move liya hai. Unhone apna ₹5,000 Crore ka purane real estate aur mortgage loans wala portfolio bech diya hai ek company Arcil ko. Isse unke paas cash bhi aa gaya aur dimaag bhi free ho gaya taaki woh ab apne asli growth sectors pe dhyan de sakein.
Yeh deal hui hai lagbhag ₹2,400 Crore mein, jo ki portfolio ke original value se 52% kam hai. Matlab kaafi bada haircut mila hai! Arcil upfront ₹360 Crore cash dega, baaki paisa security receipts ke through milega jab woh loans recover karenge. Yeh loans stressed toh the, par abhi NPA nahi bane the, aur 2027 tak repayment chalegi. Toh ab company ka poora focus hoga gold loans, personal loans, aur low-income customers ke liye small business loans par. Yeh plan International Holding Co (IHC) ke bade investment se aur bhi strong ho gaya hai.
Aur kya baat hai, IHC ne toh Sammaan Capital mein majority stake hi khareed li hai, yani unki taraf se bahut bada support hai. IHC ki arm Avenir Investment RSC ne ₹5,652 Crore lagaye hain 41.5% stake ke liye, aur aage aur bhi paisa aa sakta hai. CEO Gagan Banga ka target hai ki 3 saal mein Assets Under Management (AUM) abhi ke ₹65,000 Crore se badha kar lagbhag ₹1.3 Lakh Crore kar denge. Arcil wale deal se credit cost bhi 1% se neeche rakhne mein madad milegi.
Aur haan, Sammaan Capital ko Crisil ne bhi AA+/stable ki rating di hai, jo ek decade mein pehli baar hua hai! Crisil ne IHC ka support, high capitalization, aur financial strength ko dekha hai. Iss upgrade se company ki credibility aur badh gayi hai. Market mein bhi Sammaan ki valuation competitive lag rahi hai, unka P/E ratio around 20.5x hai, jo Bajaj Finance (28x) aur Cholamandalam Investment (22x) se thoda kam hai.
Par bhaiyon, har chamakti cheez sona nahi hoti. Yeh jo 52% ka haircut mila hai na, woh dikhata hai ki purane loans mein quality ki issue shayad expected se zyada hai. Upar se IHC ka foreign capital aa raha hai, toh currency fluctuation, geopolitical risks aur regulatory changes ka bhi thoda dhyan rakhna padega. Competitors jaise Bajaj Finance kaafi established hain retail lending mein, Sammaan ko apne aggressive growth plans execute karne mein challenges aa sakte hain.
Waise, company ki capital adequacy 30% se upar hai, matlab growth ke liye abhi kaafi space hai bina aur share beche. Management ka focus ab wahi apne core business ko badhane par hai aur analyst bhi is outlook ko support kar rahe hain. Toh overall, Sammaan Capital ek naye phase mein enter kar raha hai!