Sammaan Capital Ltd. secured board approval on Wednesday to raise funds of up to Rs 30,000 crore through the issuance of various debt instruments, including non-convertible debentures, bonds and other securities.
The fundraise will be carried out in multiple tranches over the coming year, subject to regulatory and statutory clearances, the company said in an exchange filing. The company, formerly known as Indiabulls Housing Finance, will issue the NCDs within a year from the date of shareholders' approval at the forthcoming annual general meeting.
The board has also enabled the resolution to raise up to Rs 10,000 crore through debentures, bonds, external commercial borrowings or any other non-convertible securities through public offers or private placements.
Earlier this year, Sammaan Capital's board of directors and shareholders authorised the issue of a qualified institutional placement for the total issue size of Rs 1727.5 crore.
The business update was shared after the market hours. The stock settled 0.54% lower at Rs 1,38.61 apiece on the NSE, compared to a 0.55% decline in the benchmark Nifty 50. This is after the shares rose nearly 18% since Aug. 29 after it was included in the futures and options segment.
Sammaan Capital shares have fallen 13.73% in the last one year and 8.25% year-to-date.
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