IHC Commits USD 1 Billion Investment In Sammaan Capital To Enhance Financial Inclusion In India

IHC, a global investment firm, has committed US$1 billion (INR 8,850 crore) to Sammaan Capital Limited. This company is one of India's largest non-banking financial companies (NBFCs), focusing mainly on mortgage lending. Sammaan Capital operates 220 branches across over 150 towns and cities with more than 4,430 employees, significantly contributing to India's financial inclusion and growth.

India's economy is among the fastest-growing globally, with NBFCs playing a crucial role in meeting the increasing credit demand. These companies bridge the gap between traditional banking and modern financial needs. With strong regulatory oversight from the Reserve Bank of India, NBFCs are well-positioned to enhance financial inclusion and support economic growth.

IHC's investment highlights its belief in India's financial sector's long-term potential. The company aims to expand access to capital and foster innovative credit solutions. Syed Basar Shueb, CEO of IHC, stated, "India represents a core strategic market for us, and its long-term growth fundamentals are compelling. We have been impressed by Sammaan Capital’s leadership in enabling home ownership and empowering small businesses across the country."

Sammaan Capital's Growth Journey

Gagan Banga, CEO and Managing Director of Sammaan Capital Limited, expressed optimism about joining IHC Group. He said, "Sammaan Capital’s journey has been anchored in resilience, adaptability, and stakeholder value creation. Joining the IHC Group opens new horizons for us." This partnership aligns with their aspirations for future growth.

The investment will bolster IHC's global portfolio while reinforcing its presence in one of the world's most dynamic financial markets. The deal awaits regulatory approvals from the Reserve Bank of India and the Competition Commission of India along with other customary conditions.

This significant investment not only strengthens IHC's position but also supports Sammaan Capital's next phase of development. It includes adopting AI to improve lending and credit solutions while contributing positively to India's financial ecosystem.

With inputs from WAM