Sammaan Capital launches ₹300 crore NCD issue
The shares of Sammaan Capital Limited were trading at ₹118.95 down by ₹2.53 or 2.08 per cent on the NSE today at 12.02 pm.
Sammaan Capital Limited (formerly Indiabulls Housing Finance) announced the launch of secured, redeemable non-convertible debentures (NCDs) worth ₹300 crore. The public issue opens on February 27 and closes on March 12, 2025.
The base issue size is ₹100 crore with a green shoe option of ₹200 crore, part of the company’s larger ₹2,000 crore shelf limit. The NCDs will offer multiple investment options with tenures ranging from 24 to 120 months.
Interest rates vary between 8.88 per cent and 10.75 per cent per annum, with higher rates offered to retail investors (Categories III and IV). The debentures will feature annual, monthly, and cumulative interest payment options, with a minimum application requirement of ₹10,000.
The Securities Issuance and Investment Committee approved the issue on February 20. The NCDs will be secured by a first ranking pari passu charge on the company’s financial and non-financial assets with a minimum security cover of 1.25 times.
The issue has received “CRISIL AA/Stable” and “[ICRA]AA (Stable)“ ratings. The debentures will be listed on both BSE (the designated stock exchange) and NSE after allotment.
