Sammaan Capital Ltd (formerly Indiabulls Housing Finance Ltd) has decided to make an offer to all debenture holders for pre-mature redemption of its non-convertible debentures (NCDs) maturing till 30 September 2025.

The company’s Asset Liability Management Committee [ALCO] will make the offer to all the NCD holders to acquire NCDs maturing till 30 September, 2025, on the exchange at par and hold them as treasury stock until maturity, per the company’s regulatory filing.

The bolstered liquidity buffer, including fund raise of ₹4,667 crore via NCDs and ₹3,639 crore via equity in FY25, will be partially utilised to purchase the outstanding bonds; the quantum of purchase would effectively be accelerated repayment of debt, it added.

Sammaan Capital, which is now categorised as a non-banking finance company – investment credit company (NBFC-MFI), noted that domestic liquidity conditions have improved notably, supported by the Reserve Bank of India’s (RBI) accommodative monetary policy stance.

The company emphasised that measures such as policy rate reductions, periodic open market operations (OMOs), and sustained liquidity support have infused substantial liquidity into the financial system and reinforced credit flow.

As a result, market yields have eased, enabling domestic participants to secure funding at more competitive rates.

“In this positive monetary environment, Sammaan Capital Limited is seeing strong flow of domestic liquidity across funding sources. Accordingly, the company’s resource raising is now fully focused on domestic sources of funding due to their ample availability and declining incremental costs,” according to the filing.

SCL’s consolidated assets under management (AUM) stood at ₹62,346 crore as at March-end 2025. This comprises SCL’s housing (prime) and urban MSME/loan against property (LAP) loans, and AUM of subsidiary Sammaan Finserve, which provides affordable home loans and semi-urban LAP; and an AIF platform (wholesale lending with partner funds).

Published on June 14, 2025