Abu Dhabi, UAE – Global Holding Company, the leading global investment company specialized in building dynamic value networks and promoting sustainable growth, announced on Tuesday that it had obtained all required regulatory approvals to acquire a stake amounting to about 41.5% in Saman Capital Limited. After accounting for all convertible instruments with a total value of approximately US$1 billion (equivalent to INR 8,850 crore).
Stages of deal implementation
The deal will be implemented in several stages, with a stake of approximately 26.9% acquired to date. The remaining share will be supplemented through financial instruments in accordance with the regulations in force in India.
A mandatory purchase offer will also be implemented, to acquire up to 26% of the total capital after the increase from public shareholders. In compliance with securities regulations of India.
After completing all stages of the deal, the global holding company will become a major shareholder in Saman Capital. With the rights to appoint a majority of the members of the Board of Directors, and to play an active role in directing the company’s overall strategy.
Strengthening the group’s financial services
Saman Capital now forms part of Judan Financial, the investment arm of the recently established global holding company specializing in the financial services sector. This will enhance the group’s financial services platform and support the achievement of its growth ambitions in this sector.
Samman Capital Limited, listed on the Bombay Stock Exchange and the National Stock Exchange of India, is one of the largest non-banking finance companies in India. It mainly focuses on mortgage loans.
The company operates through 220 branches in more than 150 cities and towns. It employs more than 4,430 employees. This enhances its vital role in supporting financial inclusion and economic growth in India.
This investment represents a milestone in the strategic expansion of the global holding company in the Indian market. It underscores its long-standing commitment to investing capital and its partnership-building approach to investing in promising growth markets.
promoting financial inclusion
India is one of the fastest growing major economies in the world. The non-banking finance sector plays a pivotal role in bridging the gap between traditional banking services and the growing demand for credit.
As the economy becomes increasingly regulated and oversight by the Reserve Bank of India is strengthened, these companies are in a strong position to contribute to enhancing financial inclusion and supporting sustainable economic growth in India.
This investment is expected to contribute to strengthening Saman Capital’s balance sheet and supporting the next phase of its growth. Enhancing its ability to provide innovative lending solutions targeting segments suffering from limited access to financing.
It is worth noting that the completion of the deal is subject to meeting the conditions required for closure.
