Sammaan Capital To Raise Rs 200 Crore Through Ongoing NCD Issue
By Ankur Chandra | Published at: Jul 9, 2025 02:23 PM IST
Mumbai, July 9, 2025 – Sammaan Capital Ltd (BSE: 535789, NSE: SAMMAANCAP), which used to be called Indiabulls Housing Finance Ltd, has started Tranche IV of its public NCD issue. It is offering up to 20 lakh secured, redeemable non-convertible debentures for ₹200 crore, which is within its ₹2,000 crore shelf limit.
The offering started on July 9, 2025, and will end on July 19. The terms are 24 to 60 months and the coupon rates are 9.50% to 10.50% each year. The NCDs, which have a CRISIL A+/Stable rating, are backed by known receivables. The smallest application size is ₹10,000. The money will be utilized for lending, refinancing, and other business needs.
Key Offer Details
The company will issue the NCDs at a face value of ₹1,000 each, comprising a base issue size of ₹100 crore with a green shoe option to retain oversubscription up to ₹100 crore.
| Particulars | Details |
|---|---|
| Issue Type | Public Issue |
| Instrument | Secured, Redeemable, Non-Convertible Debentures |
| Face Value per NCD | ₹1,000 |
| Total Issue Size (Tranche IV) | Up to ₹200 crore |
| Opening Date | July 15, 2025 |
| Closing Date | July 28, 2025* |
| Listing | BSE (Designated), NSE |
| Credit Ratings | CRISIL AA/Stable, [ICRA] AA (Stable) |
| Tenure Options | 24 to 120 months (13 series) |
| Interest Payment Frequencies | Monthly, Annual, or Cumulative |
*The issue may close earlier or get extended, subject to compliance with SEBI norms.
Series-Wise Breakdown
As per Annexure A (Page 4) of the disclosure, the issue offers 13 series with different tenure and coupon options tailored for retail, HNI, and institutional investors. Below is a summary:
| Series | Tenure | Frequency | Category I & II (Coupon) | Category III & IV (Coupon) |
|---|---|---|---|---|
| I | 24M | Annual | 8.75% | 9.00% |
| IV | 36M | Annual | 9.00% | 9.25% |
| VII | 60M | Annual | 9.40% | 9.65% |
| X | 84M | Annual | 9.60% | 9.85% |
| XII | 120M | Annual | 9.70% | 9.95% |
Coupon payments will be made through various available modes. Effective yields go up to 9.96% p.a. for retail participants in the 120-month monthly option.
Security and Covenants
The NCDs are secured by a pari-passu charge on the company’s financial and non-financial assets, including present and future loan receivables. A minimum security cover of 1.25x the principal and accrued interest will be maintained at all times. The assets will be registered with relevant authorities (RoC, CERSAI, etc.) before listing.
Failure to execute the Debenture Trust Deed on time will attract an additional 2% annual interest penalty over and above the agreed coupon rate. This NCD issuance provides investors with an attractive opportunity for fixed returns amid fluctuating equity markets, especially for those looking to diversify into debt instruments with relatively lower risk and predictable income.
Regulatory Compliance
The issue is being undertaken pursuant to the SEBI NCS Regulations, 2021, SEBI LODR Regulations (Reg 30 & 30A), and the SEBI Master Circular dated November 11, 2024.
About the Company
Sammaan Capital Limited is a publicly listed non-banking finance company (NBFC) registered with the RBI. Formerly known as Indiabulls Housing Finance Ltd, it offers home loans, LAP, and other retail credit products. The company is listed on BSE, NSE, SGX, and India INX.
For investors seeking stable returns with periodic income, this NCD issue provides multiple options with attractive yields and strong credit ratings.
REF:https://www.bseindia.com/xml-data/corpfiling/AttachLive/df1cb5a6-4343-4d67-b496-7f3a349007e0.pdf
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
