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Shares of Sammaan Capital Ltd ended at ₹155.95, down by ₹2.50, or 1.58%, on the BSE.
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Mortgage-focused Sammaan Capital Ltd on Monday (September 7) said it has approved plans to raise up to ₹25,000 crore through issuance of secured and/or unsecured redeemable non-convertible debentures (NCDs) or bonds on a private placement basis.
The fundraising will be carried out in one or more tranches during the period starting from the date of shareholders’ authorisation at the ensuing Annual General Meeting (AGM) and will remain valid for one year.
The company’s board also approved the reappointment of Shefali Shah as an Independent Director for a further term of three years, subject to shareholders’ approval. Her second term will run from November 14, 2026 to November 13, 2029, and she will not be liable to retire by rotation.
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Shah is a retired Indian Revenue Service (IRS) Income Tax officer who served for over 35 years in senior positions with the Government of India, including as Principal Chief Commissioner of Income Tax.
She has experience across Income Tax, policy formulation, strategy and programme implementation, including work with the Ministries of Commerce, Culture, Consumer Affairs and Revenue. She holds a Master’s degree in Economics from the University of Rajasthan.
Meanwhile, Sachin Chaudhary, Executive Director and Chief Operating Officer (COO), will retire from the board at the conclusion of the ensuing AGM and has decided not to offer himself for reappointment as a director.
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The company said Chaudhary’s cessation applies only to his position as a director. He will continue with Sammaan Capital as COO, with no change in his role, responsibilities or reporting.
First Quarter Results
Consolidated net profit fell to ₹243 crore in the first quarter of FY27 from ₹334 crore a year earlier. Revenue declined 31.6% to ₹1,642 crore from ₹2,400 crore in the year-earlier quarter.
The June quarter was Sammaan Capital's first full quarter as part of the IHC Group following the completion of IHC's strategic investment in the company. A subsequent open offer was completed in May.
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The transaction involves a total committed investment of ₹8,850 crore and resulted in IHC becoming Sammaan Capital's promoter and controlling shareholder. Sammaan Capital has also reassessed provisions set aside against potential credit losses under the Ind AS 109 impairment framework.
Following an independent macroeconomic assessment, the company recognised an additional expected credit loss management overlay of ₹1,850 crore over and above provisions generated by its models.
Shares of Sammaan Capital Ltd ended at ₹155.95, down by ₹2.50, or 1.58%, on the BSE.
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