RBI clears Avenir Investment’s takeover bid for Sammaan Capital

The RBI’s approval covers both Sammaan Capital and its wholly-owned subsidiary, Sammaan Finserve Limited, formerly known as Indiabulls Commercial Credit Limited
| Photo Credit:
DHIRAJ SINGH

The Reserve Bank of India (RBI) on Monday approved Avenir Investment RSC Ltd’s proposed acquisition of a controlling stake in Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, the company disclosed in a regulatory filing.

The RBI’s approval covers both Sammaan Capital and its wholly-owned subsidiary, Sammaan Finserve Limited (formerly Indiabulls Commercial Credit Limited), including the indirect change of control of the subsidiary arising from the transaction. The central bank also waived the mandatory public notice period for both entities.

SEBI Approval Remains

Under the deal, Avenir — owned and controlled by Abu Dhabi-based International Holding Company PJSC — will invest approximately ₹8,850 crore in Sammaan Capital through a preferential issue. On completion of the preferential allotment, Avenir will hold roughly 41.23 per cent of the company’s paid-up equity share capital. If the subsequent Open Offer sees full uptake, that stake would rise to approximately 63.36 per cent.

The transaction is governed by a share subscription agreement signed on October 2, 2025. SEBI approval remains the only regulatory clearance outstanding, and the company stated it is in active engagement with the markets regulator to expedite the process.

Published on March 25, 2026