IHC arm gets RBI nod to buy Sammaan Capital

MUMBAI: Sammaan Capital (formerly Indiabulls) shares rose 6% after the RBI approved the acquisition of a controlling stake by UAE-based International Holding Company (IHC) through an initial investment of about Rs 8,850 crore. In a regulatory filing on March 24, Sammaan Capital said RBI had cleared applications related to the proposed transaction involving Avenir Investment, an entity owned and controlled by IHC. TNN