Sammaan Capital Ltd has approved a Scheme of Arrangement to demerge its NBFC business from wholly-owned subsidiary Sammaan Finserve Ltd into the parent entity. The move, aligned with International Holding Company’s $1 billion investment, aims to streamline structure, ensure regulatory compliance, and strengthen the group’s financial services expansion strategy.
Sammaan Capital Ltd (SCL) announced that its Board, after reviewing recommendations from the Audit and Independent Directors Committees, approved a Scheme of Arrangement between Sammaan Finserve Ltd (SFL) and SCL under Sections 230-232 of the Companies Act, 2013. The demerger will consolidate the NBFC business into SCL on a going-concern basis, with SFL surrendering its NBFC license once the scheme takes effect.
This approval follows Avenir Investment RSC Ltd’s $1 billion (₹8,850 crore) investment for a 41.2% controlling stake in SCL, backed by necessary regulatory and shareholder approvals. The move will complete the compliance requirement that no other entity within the group holds an NBFC license.
Key Developments And Highlights
-
The demerger involves transfer of the entire NBFC business of SFL into SCL effective from the appointed date.
-
No change in shareholding pattern will occur, as SFL is wholly owned by SCL.
-
No cash consideration is involved; no new shares will be issued.
-
The restructuring aims at simplifying the corporate structure, ensuring governance transparency, and enhancing operational efficiency.
-
Following the IHC investment, SCL plans to evolve into a full-suite NBFC offering mortgage-backed and multi-product lending solutions.
-
Through this arrangement, the company will leverage IHC’s deep domain expertise in financial services, fintech, and technology-driven platforms for growth across lending, asset management, and digital investments.
The Scheme is subject to requisite consents, statutory and regulatory approvals, and tribunal-directed approvals from shareholders and creditors.
Sources: Company filing on BSE and company website