Indiabulls Housing is now Sammaan Capital

Mumbai: Indiabulls Housing Finance on Wednesday said that it has officially changed its name to Sammaan Capital with a new Certificate of Incorporation from the Registrar of Companies and a new registration as an NBFC-investment and credit from the RBI.

Indiabulls had announced its plans to rebrand in May 2023. The renaming has happened in the company's 25th year of operation, having started its business as Indiabulls Financial Services Limited in 2000 during the dot-com boom when it was co-founded by three IIT Delhi graudates - Sameer Gehlaut, Rajiv Rattan and Saurabh Mittal. The company continues to be led by Gagan Banga who was part of the team since 2000.

Initially promoter-led, the company has repositioned itself as a board-run, professionally managed institution over the past five years. In 2020 the former promoter Sameer Gehlaut resigned as chairman and S.S. Mundra, ex-deputy governor of the RBI, became the Independent Non-Executive Chairman.

Since then reduced his stake and completely divested by February 2023, no longer holding shares. The board now oversees company operations through various sub-committees.

In a statement to the exchange the company said that it will continue focusing on retail loans, specifically affordable home loans and mortgage-backed loans for small businesses.

The strategy includes pursuing asset-under-management growth through an asset-light model. The model involves sourcing loans through co-lending and sell-down partnerships with banks and financial institutions.

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