Cyril Amarchand Mangaldas (CAM) and CMS INDUSLAW advised on International Holding Company’s (IHC) USD 1 billion acquisition of a controlling stake in Sammaan Capital.

This is one of the largest cross-border investments in India’s NBFC sector this year. The transaction marks IHC’s foray into the financial services sector in India and represents the largest-ever primary capital infusion by an investor in a non-bank financial company in India.

Sammaan Capital and Avenir Investment RSC Ltd, entered into a share subscription agreement (SSA) dated October 2, 2025 (SSA), pursuant to which the Company has agreed to issue shares and warrants to the Investor by way of a preferential issue on a private placement basis, for cash consideration aggregating to approximately USD 1 billion (INR 8,850 crore). Upon completion of the transaction, Avenir will acquire and exercise control over Sammaan Capital and will be classified as its ‘promoter’. Pursuant to the SSA, Avenir is also required to make a mandatory open offer to the public shareholders of the Company.

CAM is acting as the legal counsel to Sammaan Capital Limited on the proposed investment of USD 1 billion (INR 8,850 crores) by an affiliate of International Holding Company P.J.S.C. (IHC), a global investment company, for acquisition of 43.46% stake and control of the Company. The acquisition has also resulted in an open offer by IHC.

The transaction team comprised Anchal Dhir, Anshu Choudhary, Aman Deep Borthakur, Varun Kannan, Nisha Nahata, Geetika Kaura and Coral Shah.

CMS INDUSLAW advised Sammaan Capital, on acquisition of 43.46% controlling stake by International Holding Company (IHC), valued at USD 1 billion (approx.).

The CMS INDUSLAW team included Partners Kaushik Mukherjee, and Siddharth Manchanda, Counsel Kanika Sachdeva, Principal Associate Anupam Choudhary, Senior Associates Spandan Saxena and Aditya G and Associate Yash Chhikara.