M&A

M&A

NBFC Samman Capital offloads loans worth Rs.5,000-Cr to Arcil

Delhi-based non-banking financial company (NBFC) Sammaan Capital (formerly Indiabulls Housing Finance Ltd) has sold an INR 5,000 crore loan portfolio to stressed loan aggregator Arcil. The loan pool spans real estate loans, large-ticket mortgage loans, and loans against property. Arcil valued the loan portfolio at about INR 2,400 crore, at a 52% haircut. The transaction forms part of Sammaan Capital’s plan to trim legacy loans ahead of embarking on a new growth trajectory.The deal is structured in a 15:85 ratio, in which Arcil will pay about INR 360 crore in cash. Arcil has issued security receipts (SRs) for the remaining amount, which will be redeemed when the loan collection progresses.The deal was inked before Avenir Investment RSC, an arm of Abu Dhabi-based IHC, which secured approvals to buy a majority stake in Sammaan.