Mumbai, Oct. 2 -- International Holding Co. (IHC) is set to acquire a controlling 43.5% stake in Sammaan Capital Ltd (formerly Indiabulls Housing Finance) for Rs.8,850 crore, marking Abu Dhabi-based investor's entry into India's financial services sector.

The investment, through IHC's Avenir Investment RSC Ltd, will include a preferential allotment of 330 million equity shares amounting to around Rs.4,587 crore, and 300 million warrants worth Rs.4,262 crore at a price of Rs.139 per share. That's a discount to Wednesday's closing price of Rs.168.55 on the NSE-Thursday was a market holiday on account of Dussehra.

IHC will be classified as the promoter and will have the right to appoint the majority of the directors on the board, subject t...