Sammaan Capital informed that its board approved the raising of funds, through issue of equity shares, up to an aggregate amount of Rs 2,500 crore through one or more qualified institutions placements (QIP).
The proposal is subject to receipt of necessary approvals, if and to the extent required, stated the firm.For seeking approval of the shareholders of the company for the aforesaid issuance of equity shares, an extra ordinary general meeting will be held on Friday, January 3, 2025, through video conferencing/other audit visual means.
Sammaan Capital (formerly known as Indiabulls Housing Finance) is a housing finance company regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.
The housing finance company reported consolidated net loss of Rs 2,760.72 crore in Q2 FY25 as against net profit of Rs 297.98 crore in Q2 FY24. Total income rose 8.2% YoY to Rs 2,425.17 crore in the September 2024 quarter.
Shares of Sammaan Capital slipped 2.06% to Rs 164.35 on the BSE.
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