India, Oct. 3 -- Sammaan Capital Ltd. has decided to sell a billion-dollar stake to Abu Dhabi's biggest listed company, a move that sent its share price crashing on Friday.

International Holding Co. PJSC's unit Avenir will hold about a 43.5% stake in Sammaan Capital after the deal, according to an exchange filing on Thursday. On Friday, shares of the non-banking financial company fell as much as 6%-the most since July 2025.

The Sammaan-Avenir deal at an 18% discount raises concerns over valuation and potential dilution, Vinit Bolinjkar, head of research at Mumbai-based Ventura Securities, told Bloomberg News.

Sammaan Capital, a mortgagor founded in 2005, has a balance sheet of $8.3 billion (about Rs.75,000 crore) with more than 200 off...