CURRENT AFFAIRS
CURRENT AFFAIRS
Description
Indiabulls Housing Finance Ltd has rebranded itself as Sammaan Capital Ltd. This move represents the company's transition from a promoter-led enterprise to a board-managed, diversified financial institution. The rebranding, which will take effect once regulatory clearances are received, is a key milestone in the company's 25-year history, beginning in 2000 as Indiabulls Financial Services Limited.
Transformation And Governance Shift
The company's growth includes substantial governance improvements, with former RBI Deputy Governor S.S. Mundra taking on the role of Independent Chairman in 2020. Independent directors with significant business experience have strengthened oversight, while the former promoter has totally relinquished his share, increasing board independence and oversight capacity.
Business Focus And Strategy
Sammaan Capital will remain a retail-focused lender, concentrating in low-cost home loans and mortgage-backed loans for micro, medium, and small companies. The company emphasizes an asset-light model and strives to increase Asset Under Management (AUM) through smart loan origination and co-lending arrangements with banks and financial institutions.
Operations Integration And Future Outlook
The company intends to quickly integrate its new identity throughout all operations, including branches, websites, and marketing materials. Customer interaction initiatives will highlight the rebranding, aligning with strategic goals focused at increasing Return on Equity (RoE) through long-term business growth in the retail sector.
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