CRISIL upgrades long-term rating for Sammaan Capital to AA+, stable outlook
This story was originally published at 10:38 IST on 10 April 2026
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--Crisil ups Sammaan Capital long term rating to AA+ from AA
MUMBAI – Crisil Ratings has upgraded its rating for Sammaan Capital Ltd.'s long-term debt instruments and bank facilities to AA+ from AA. The ratings agency also removed the company from "rating watch with development implications" and revised the outlook to "stable".
It upgraded the rating for bank loans of INR 245.50 billion and subordinated debt of INR 37.12 billion, Crisil Ratings said in a statement Thursday. The rating agency also reaffirmed 'A1+' rating for the company's short-term commercial paper and non-convertible debentures.
Crisil said the rating upgrade was due to strong managerial and financial support from International Holding Co. group, strong capitalisation, comfortable asset quality in the retail segment, and a sizeable presence in the retail mortgage finance segment.
The rating upgrade comes after completion of the proposed acquisition of a controlling stake in Sammaan Capital by International Holding Co., an Abu Dhabi-based entity. International Holding Co., through its affiliate Avenir Investment RSC Ltd., will invest INR 88.50 billion in Sammaan Capital for over 41% stake. Of the INR 88.50 billion, International Holding Co. has already infused INR 56.53 billion as of Mar. 31.
International Holding Co. entities have also floated an open offer to buy up to 26% stake in Sammaan Capital, which could take the former's stake to over 63%. The open offer will open on Apr. 17 and close on Apr. 30.
For the December quarter, Sammaan Capital reported a consolidated net profit of INR 3.14 billion on revenues of INR 21.58 billion. At 1010 IST, shares of the company traded at INR 154.33 on the National Stock Exchange, up 0.5%. End
Reported by Suryash Kumar
Edited by Deepshikha Bhardwaj
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