Mumbai, March 31 Sammaan Capital, a company focused on mortgages, plans to introduce new products in FY28 after surpassing the Rs 1 lakh crore mark in assets under management, a senior official stated on Tuesday.
Abu Dhabi's International Holding Company has invested Rs 5,652 crore to acquire a 41.5 per cent stake in the company through a preferential issue of shares and warrants, and will now launch an open offer as per the guidelines to take its stake to 63.3 per cent as the promoter.
The company, formerly known as Indiabulls Housing Finance, will continue to offer mortgage-related products for the time being and build its product line in parallel.
"We will prepare to diversify into newer products in FY27 and scale into them in FY28," Gagan Banga, the managing director and chief executive of Sammaan Capital (SC), told