IHC's $1 Billion Leap into Sammaan Capital: A Game-Changer for India's Finance Sector

Abu Dhabi's International Holding Company is set to invest $1 billion for a 43.46% stake in India's Sammaan Capital, enhancing its presence in the financial services sector. The strategic acquisition, approved by stakeholders, aims to leverage AI for advanced lending and credit solutions without altering market competition.

In a significant move, the Abu Dhabi-based International Holding Company (IHC) is poised to invest $1 billion in Sammaan Capital, acquiring a 43.46% stake. This investment, announced on Wednesday, marks IHC's strategic entry into the Indian financial services sector.

The transaction, facilitated through Avenir Investment RSC Ltd, an IHC affiliate, has received the green light from shareholders and seeks approval from India's Competition Commission (CCI). The deal signifies the largest capital infusion by an investor into a non-bank financial company in India.

IHC CEO Syed Basar Shueb emphasized the company's commitment to Sammaan Capital's growth, particularly through AI adoption to enhance lending services. Sammaan Capital's CEO, Gagan Banga, echoed this sentiment, highlighting the alignment of aspirations and the promising future it envisages with IHC's backing.

(With inputs from agencies.)