Abu Dhabi-based investor Avenir Investment RSC, an affiliate of International Holding Company, has agreed to purchase a 43.46% stake in Sammaan Capital for $1 billion, the non-bank lender said on Thursday. The lender, formerly known as Indiabulls Housing Finance, will raise the capital by issuing preferential shares to Avenir after securing requisite approvals, according to an exchange filing. Under the agreement, 33 crore shares will be issued to the investor at ₹139 apiece to raise ₹4,587 crore, with the remainder to be raised through two tranches of warrants.
Angel One Limited, a leading fintech player, has appointed Sridhar Govardhan as Group Chief Information Security Officer (GCISO), reinforcing its commitment to a secure and resilient technology platform. A recognised cybersecurity leader with over 25 years of experience at CoinDCX, Flipkart, and Wipro, Sridhar has a proven track record of building governance-aligned, resilient networks. He will play a key role in strengthening Angel One’s information security and cybersecurity framework while safeguarding client trust and business continuity by upholding the highest standards of data protection, regulatory compliance, and cyber resilience.
Utkarsh Small Finance Bank has filed papers for a ₹950 crore rights issue to fund business growth. “We have filed the relevant applications with stock exchanges seeking their comments on the Draft Letter of Offer (DLOF) and/or in-principle listing approval for the captioned rights issue at the earliest,” the bank said in a regulatory filing. The proposal had earlier received approval from the board of directors.
RBL Bank has received a show-cause notice dated September 30, 2025, under Section 74 of the Maharashtra Goods and Services Tax Act, 2017, from the Assistant Commissioner of State Tax, Mumbai. The notice demands ₹92 crore, including interest and penalty, for the financial year 2019–20. The demand relates to the reversal of GST input credit claimed under a separate registration obtained for the bank’s digital banking vertical.
Two Edelweiss entities, managed by Edelweiss Financial Services, have settled a case with market regulator SEBI involving alleged violations of alternative investment fund rules by paying ₹61.4 lakh in settlement charges. In addition, SEBI directed that officers-in-default from Edelweiss Stressed and Troubled Assets Revival Fund Trust and Edelweiss Alternative Asset Advisors Ltd will not engage with the company for 12 months.
Published on October 3, 2025