Abu Dhabi-based Avenir Investment RSC, an affiliate of International Holding Company, has reached an agreement to acquire a 43.46% stake in Sammaan Capital for $1 billion, as announced by the non-bank lender on Thursday. Formerly known as Indiabulls Housing Finance, Sammaan Capital will raise this capital through the issuance of preferential shares to Avenir, pending necessary approvals. According to an exchange filing, the deal will involve the issuance of 33 crore shares at ₹139 each, generating a total of ₹4,587 crore, with the remainder to be raised through two tranches of warrants.
In other news, Angel One Limited, a prominent player in the fintech sector, has appointed Sridhar Govardhan as Group Chief Information Security Officer (GCISO). With over 25 years of experience in cybersecurity at companies such as CoinDCX, Flipkart, and Wipro, Govardhan is poised to enhance Angel One’s information security framework. His responsibilities will include ensuring the highest standards of data protection, regulatory compliance, and mitigating cyber threats, thus safeguarding client trust and business continuity.
Utkarsh Small Finance Bank has submitted documentation for a ₹950 crore rights issue aimed at fuelling its business growth. In a regulatory filing, the bank stated it has applied to stock exchanges for comments on the Draft Letter of Offer (DLOF) and for in-principle listing approval for the rights issue. This proposal has already received the nod from the bank’s board of directors.
Moreover, RBL Bank has been issued a show-cause notice dated September 30, 2025, by the Assistant Commissioner of State Tax, Mumbai, under Section 74 of the Maharashtra Goods and Services Tax Act, 2017. The notice demands ₹92 crore, encompassing interest and penalties, for the financial year 2019–20, relating to the reversal of GST input credit claimed concerning a separate registration for the bank’s digital banking division.
Lastly, two entities within Edelweiss Financial Services have resolved a case with the market regulator, SEBI, concerning alleged breaches of alternate investment fund regulations. The firms settled the case by paying ₹61.4 lakh in charges. Additionally, SEBI has mandated that officers-in-default from the Edelweiss Stressed and Troubled Assets Revival Fund Trust and Edelweiss Alternative Asset Advisors Ltd. refrain from engaging with the company for a period of 12 months.
Published on October 3, 2025.
