Sammaan Capital Ltd repays $138.04 Mn for FCCBs

Sammaan Capital Limited (formerly known as Indiabulls Housing Finance Limited) ["the Company"] has today transferred ~USD 138.04 Mn [₹ 1,177.15 Crs] to the paying agent Deutsche Bank AG, through the authorized dealer bank [AD Bank] State Bank of India towards interest and principal repayment of Foreign Currency Convertible Bonds ["FCCBs"] borrowings availed in September, 2021 from foreign investors.

With this, the Company has repaid USD 3.36 Bn of senior foreign currency debt in the last 10 years.

Gross debt repayment of ~₹ 1,74,300 Crs and net debt repayment of ~₹ 82,600 Crs from Sep 2018 to Jun 2024 - an average of ₹ 30,320 Crs on gross basis, and ₹ 14,350 Crs on net basis per year

Gearing reduced from 8.6x levels to ~1.9x. Net gearing will stabilize around 2x as new book keeps adding in, and will remain stable at these levels as incremental business will be done in an asset-light model

Driving Retail AUM growth through asset-light model: ₹ 22,659 Crs disbursed under the assetlight model since FY22 through 10 strategic co-lending tie-ups. 37% of AUM now funded by CLM/sell-downs; up from 10% in Q4FY18

Company continues its focus on maintaining a fortress balance sheet through the pillars of strong capital adequacy, high provisions, and high liquidity buffer.

Shares of Sammaan Capital Limited was last trading in BSE at Rs. 166.75 as compared to the previous close of Rs. 167.20. The total number of shares traded during the day was 288429 in over 2892 trades.

The stock hit an intraday high of Rs. 168.10 and intraday low of 165.25. The net turnover during the day was Rs. 48017496.00.

Source : Equity Bulls

Keywords

SammaanCapital INE148I01020 Repayment FCCBs