IHC acquires controlling stake in Sammaan Capital for $1 billion, CAM and CMS INDUSLAW advise

International Holding Company (Avenir Investment RSC Ltd) has acquired a 43.46% controlling stake in Sammaan Capital, by entering into a share subscription agreement dated October 2, 2025, pursuant to which Sammaan has agreed to issue shares and warrants to IHC by way of a preferential issue on a private placement basis, for cash consideration aggregating to approximately $1 billion (₹8,850 crore).

Cyril Amarchand Mangaldas advised Sammaan Capital on this transaction.

The transaction team was led by Anchal Dhir (Partner) and Anshu Choudhary (Partner), with assistance from Aman Deep Borthakur (Senior Associate), Varun Kannan (Senior Associate), Associates Nisha Nahata, Geetika Kaura and Coral Shah.

CMS INDUSLAW assisted Sammaan Capital on due diligence aspects of this transaction.

The transaction team consisted of Kaushik Mukherjee (Partner), Siddharth Manchanda (Partner), Kanika Sachdeva (Counsel), Anupam Choudhary (Principal Associate), Spandan Saxena (Senior Associate), Aditya G (Senior Associate) and Yash Chhikara (Associate).

Sammaan Capital is a leading mortgage-focused non-banking financial company (NBFC) in India.

Upon completion of the transaction, IHC will acquire and exercise control over Sammaan Capital and will be classified as its ‘promoter’. Pursuant to the share subscription agreement, IHC is also required to make a mandatory open offer to the public shareholders of Sammaan Capital.

This is one of the largest cross-border investments in India’s NBFC sector this year. The transaction marks IHC’s foray into the financial services sector in India and represents the largest-ever primary capital infusion by an investor in a non-bank financial company in India.

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