Sammaan Capital Unveils Early NCD Buyback Plan Amid Strong FY25 Liquidity Surge
By Shishta Dutta | Updated at: Jun 14, 2025 07:19 PM IST
Mumbai, June 13, 2025: Sammaan Capital Limited, earlier known as Indiabulls Housing Finance Ltd, has launched a proactive buyback programme for its non-convertible debentures (NCDs) set to mature on or before September 30, 2025. This move offers investors a chance to redeem their holdings at face value through exchange-based settlements before maturity.
On June 13, 2025, Sammaan Capital Ltd’s share price declined by 1.51%, closing at ₹127.60, down ₹1.95 from the previous session. The stock opened at ₹125.10 and touched an intraday high of ₹128.90, with a low of ₹124.65 during the trading hours. The company’s market capitalisation stood at ₹10,250 crore. Despite the announcement of its early NCD redemption offer, investor sentiment appeared cautious. The stock remains well above its 52-week low of ₹97.61 but significantly below its 52-week high of ₹179.30.
Redemption Initiative and Offer Mechanism
Riding on ample domestic liquidity conditions fuelled by the Reserve Bank of India’s accommodative stance and ongoing open market operations, the company’s Asset Liability Management Committee (ALCO) has sanctioned this early redemption drive. Sammaan Capital plans to acquire these NCDs directly from the stock exchange and retain them in its treasury until original maturity.
Financial Resilience Fuels Initiative
Sammaan Capital’s offer is anchored in a solid financial performance during FY2024–25, marked by significant capital mobilisation and liquidity build-up:
| Financial Metric | FY2024–25 | FY2023–24 |
|---|---|---|
| Total Fundraising (Equity + Debt) | ₹14,221 crore | ₹5,812 crore |
| Equity Capital Raised | ~₹5,000 crore | Not disclosed |
| Net Worth | ₹21,822 crore | — |
| Capital Adequacy (Consolidated) | Over 34% | — |
| Gearing Ratio | 1.9x | — |
| Gross/Net NPA Ratio | 1.3% / 0.8% | — |
| Cash Flow from Legacy Book Collection | ₹15,000+ crore | — |
The company confirmed that a portion of this liquidity reserve built over FY2024–25 will fund the repurchase plan.
Strategic Insight
According to Sammaan Capital, the current focus is squarely on tapping domestic funding avenues due to their cost advantages and deeper participation. The early redemption strategy reflects the firm’s continued commitment to sound asset-liability practices and long-term balance sheet fortification.
“We are witnessing ample domestic liquidity and have strategically maintained a strong buffer for repayments. This redemption initiative supports our broader financial goals and extends a liquidity opportunity to our bondholders,” the company remarked.
Company Overview
Sammaan Capital Limited (formerly Indiabulls Housing Finance Ltd) is a registered non-banking financial company specialising in home finance and allied lending operations. It is listed on BSE (Scrip Code: 535789) and NSE (Symbols: SAMMAANCAP, SCLPP), with disclosures also made on SGX and India INX. The firm continues to follow disciplined risk practices and prioritises capital efficiency across operations.
REF: https://nsearchives.nseindia.com/corporate/IHFL_13062025140519_SCL_Intimation_Purchase_bonds_maturities_upto_30092025.pdf
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