Indiabulls Mutual Fund

Mumbai, India Founded: 2011 • Age: 15 yrs Listed Acquired By Groww
Mutual funds are managed for investment purposes in India.

About Indiabulls Mutual Fund

Indiabulls Mutual Fund is a publicly listed company based in Mumbai (India) founded in 2011, and was acquired by Groww in May 2021. Mutual funds are managed for investment purposes in India. Its chief executive, as recorded, is Raghav Iyengar. Its Indian entity Sammaan Capital Limited reported revenue of ₹8,190 Cr. Its focus areas include Asset Management and Mutual Funds. Its competitors include HDFC Mutual Fund, SBI Mutual Fund and DSP Mutual Fund.

Company details

Indiabulls Mutual Fund was established in 2011 in Mumbai, India, as a fund-based investment management firm. Operations focus on the financial sector, where mutual fund schemes are offered to investors seeking portfolio diversification and growth. Services include asset management and advisory support, primarily within the Indian market. The firm is headquartered in Mumbai, with oversight from former leadership such as Raghav Iyengar, who served as CEO.

  • Headquarters Mumbai, India
  • Stage Acquired
  • Sectors
    Financial Services
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website indiabullsamc.com
  • Social LinkedIn X Facebook
  • Acquired by Groww (May 2021)
  • Legal Name Sammaan Capital Limited
  • Date of Incorporation 10 May, 2005
  • Jurisdiction New Delhi, Delhi, India
Operational Areas
Key Metrics
  • Market Cap
    ₹16,700 Cr

    SAMMAANCAP · NSE

  • Share Price
    ₹132.27

    -1.12% today

  • Revenue
    ₹8,171 Cr

    FY 2025-26 · -5.8% YoY

  • EBITDA
    −₹3,097 Cr

    Margin -37.9%

  • Net Profit
    −₹654 Cr

    FY 2025-26 · +63.7% YoY

  • Debt / Equity
    2.32

    Interest cover -176.4x

  • Investors
  • Acquired by
    Groww

    (May 2021)

Investors in Indiabulls Mutual Fund

Indiabulls Mutual Fund has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Groww.

All
Institutional
InvestorDescriptionFounded YearDomainLocation
An online platform for investments and trading services is offered.
2016groww.inBengaluru, India
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Investor details for Indiabulls Mutual Fund

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  • Complete investor list
  • Round participation
  • Investor portfolios
  • Co-investor network

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Board of directors of Sammaan Capital Limited (Indiabulls Mutual Fund)

Sammaan Capital Limited is the primary company behind Indiabulls Mutual Fund. The board of Sammaan Capital Limited currently have 8 directors; the longest-serving is Gagan Banga, appointed in 2005. 29 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Gagan Banga
DIN 00010894
Managing Director10 May 200521 yrs 5 moSammaan Capital Limited
Sachin Chaudhary
DIN 02016992
Whole-time director21 Oct 201610 yrsSammaan Capital Limited
Subhash Sheoratan Mundra
DIN 00979731
Director18 Aug 20188 yrs 2 moSammaan Capital Limited
Achuthan Siddharth
DIN 00016278
Director03 Jul 20206 yrs 4 moSammaan Capital Limited
Dinabandhu Mohapatra
DIN 07488705
Director23 Nov 20205 yrs 11 moSammaan Capital Limited
Rajiv Gupta
DIN 08532421
Nominee Director28 Jul 20233 yrs 3 moSammaan Capital Limited
Shefali Shah
DIN 09731801
Director14 Nov 20232 yrs 11 moSammaan Capital Limited
Alwyn Dinesh Crasta
DIN 06993693
Additional Director15 May 20265 moSammaan Capital Limited

People of Indiabulls Mutual Fund

1 people are tracked at Indiabulls Mutual Fund (1 in leadership).

NameRoleGroup
Raghav Iyengar
Ex-CEOLeadership
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Complete people profiles for Indiabulls Mutual Fund

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  • Team structure
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IPO & Listings of Indiabulls Mutual Fund

Indiabulls Mutual Fund is a publicly listed company on the NSE with ticker symbol SAMMAANCAP in India, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: SAMMAANCAP
  • Listed entitySammaan Capital Limited
  • Exchange sectorFinance

Financials of Indiabulls Mutual Fund

Exchange-reported figures of Sammaan Capital Limited, the listed company behind Indiabulls Mutual Fund (NSE: SAMMAANCAP).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹8,171 Cr
-5.8% YoY
EBITDA
−₹3,097 Cr
-224.3% YoY
Profit After Tax
−₹654 Cr
+63.7% YoY
Net Worth
₹18,991 Cr
-13.0% YoY
Total Assets
₹70,845 Cr
+9.8% YoY
Total Debt
₹51,853 Cr
+21.4% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue8,1718,6768,5798,7198,9889,99813,219
Revenue growth-5.8%+1.1%-1.6%-3.0%-10.1%-24.4%-
EBITDA(3,097)2,4916,9927,3197,8698,56611,176
EBITDA margin-37.9%+28.7%+81.5%+84.0%+87.6%+85.7%+84.6%
Profit before tax(8,784)(2,376)1,6461,6061,5561,5622,561
Net profit(654)(1,802)1,2191,1271,1781,2042,202
Net profit margin-8.0%-20.8%+14.2%+12.9%+13.1%+12.1%+16.7%
EPS (₹)(62.46)(22.22)21.4925.1826.4326.9852.48
Balance sheet
Total assets70,84564,54868,28569,76578,03384,93995,212
Net worth18,99121,82219,79217,36116,67416,13415,538
Total debt51,85342,72648,49352,40361,35968,80579,674
Cash & bank10,9604,7344,4245,2329,65317,00415,039
Net working capital14,3904,2617,5277,69411,65512,42111,885
Cash flow
Cash from operations(7,466)8,7721404,0016577,08819,331
Cash from investing(1,540)(5,578)1,0428841,6493,1038,265
Cash from financing14,684(2,373)(2,383)(9,142)(7,444)(10,632)(27,934)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,6521,3582,1582,2512,4002,1072,0172,422
Revenue growth (YoY)-31.2%-35.6%+7.0%-7.1%+8.8%---
Other income30.883.660.339.929.1025.022.622.68
EBITDA1,650(8,397)1,8981,7221,6761,5051,628(2,429)
EBITDA margin+99.9%-618.5%+87.9%+76.5%+69.8%+71.4%+80.7%-100.3%
Depreciation20.1125.0421.1221.2421.0324.7019.6719.78
Interest1,3351,6791,4581,2861,1961,0501,1941,238
Profit before tax326(10,097)419425468455417(3,685)
Tax82.71(1,995)105117134131115(924)
Net profit243(8,101)314308334324302(2,761)
EPS (₹)2.05(99.10)3.843.794.104.104.16(44.12)
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue7,5167,6627,4847,3647,7658,71911,399
Revenue growth-1.9%+2.4%+1.6%-5.2%-10.9%-23.5%-
EBITDA(4,325)5,7536,1536,3036,8837,75710,338
EBITDA margin-57.6%+75.1%+82.2%+85.6%+88.6%+89.0%+90.7%
Profit before tax(9,689)1,2741,2941,1069561,3922,547
Net profit(1,102)9469888196961,0612,162
Net profit margin-14.7%+12.4%+13.2%+11.1%+9.0%+12.2%+19.0%
EPS (₹)(65.51)11.3717.2217.3714.8622.8950.52
Balance sheet
Total assets68,01163,17661,62163,50272,55078,59487,970
Net worth19,91622,79218,05616,02915,65215,52214,930
Total debt48,09640,38443,56547,47356,89763,07273,041
Cash & bank10,2863,6943,9564,2409,25115,08712,913
Net working capital13,0002,7506,5445,13910,77013,28011,985
Cash flow
Cash from operations(5,111)6,69229.711,7671,4487,60114,080
Cash from investing(2,091)(5,320)2,0002,5831,2842,5819,726
Cash from financing13,284(1,120)(2,593)(9,118)(6,371)(10,428)(25,672)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,4941,2152,0462,0632,1921,8801,9022,066
Revenue growth (YoY)-31.8%-35.4%+7.6%-0.2%+15.2%---
Other income24.707.897.346.578.3325.212.801.69
Total expenses(30.62)10,472275456638506390777
EBITDA1,525(9,257)1,7711,6071,5541,3731,5121,289
EBITDA margin+102.0%-761.7%+86.6%+77.9%+70.9%+73.1%+79.5%+62.4%
Depreciation17.3322.1818.5118.4418.6922.9018.4719.14
Interest1,2371,5761,3871,2211,1329711,1111,127
Profit before tax295(10,847)373373412405386144
Tax69.63(2,392)88.4697.9211411110433.78

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 06 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,6521,3582,1582,2512,4002,1072,0172,422
Revenue growth (YoY)-31.2%-35.6%+7.0%-7.1%+8.8%---
Other income30.883.660.339.929.1025.022.622.68
EBITDA1,650(8,397)1,8981,7221,6761,5051,628(2,429)
EBITDA margin+99.9%-618.5%+87.9%+76.5%+69.8%+71.4%+80.7%-100.3%
Depreciation20.1125.0421.1221.2421.0324.7019.6719.78
Interest1,3351,6791,4581,2861,1961,0501,1941,238
Profit before tax326(10,097)419425468455417(3,685)
Tax82.71(1,995)105117134131115(924)
Net profit243(8,101)314308334324302(2,761)
EPS (₹)2.05(99.10)3.843.794.104.104.16(44.12)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue8,1718,6768,5798,7198,9889,99813,219
Revenue growth-5.8%+1.1%-1.6%-3.0%-10.1%-24.4%-
Other income19.317.6245.718.475.5732.094.45
Total expenses11,2686,1841,5871,4001,1191,4322,043
Employee cost673738619515468253605
EBITDA(3,097)2,4916,9927,3197,8698,56611,176
EBITDA margin-37.9%+28.7%+81.5%+84.0%+87.6%+85.7%+84.6%
Depreciation88.4383.0284.6285.5777.3796.70108
Interest5,6184,7915,3075,6366,2426,9398,512
Profit before tax(8,784)(2,376)1,6461,6061,5561,5622,561
Tax(1,640)(568)432476378360395
Net profit(654)(1,802)1,2191,1271,1781,2042,202
Net profit margin-8.0%-20.8%+14.2%+12.9%+13.1%+12.1%+16.7%
EPS (₹)(62.46)(22.22)21.4925.1826.4326.9852.48
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital22916311389.7289.1189.0783.83
Reserves & surplus17,69721,66019,67917,27216,58516,04515,454
Shareholders' funds (net worth)18,99121,82219,79217,36116,67416,13415,538
Minority interest0.000.000.000.000.000.000.00
Secured loans47,45238,24743,70547,19956,08163,62374,722
Unsecured loans4,4014,4794,7895,2045,2795,1834,952
Total debt51,85342,72648,49352,40361,35968,80579,674
Total liabilities70,84564,54868,28569,76578,03384,93995,212
Assets
Gross block660720664769654553678
Net block341391325433327295450
Capital work in progress0.000.000.000.000.000.000.00
Investments17,51814,2197,4565,3705,5466,14612,277
Inventories0.000.000.000.000.000.000.00
Sundry debtors18.5813.8615.4728.429.2623.7928.84
Cash & bank balances10,9604,7344,4245,2329,65317,00415,039
Loans & advances6,8105,1477,8617,6145,9333,6924,478
Total current assets17,7899,89412,30112,87515,59520,72019,545
Total current liabilities3,3995,6334,7745,1803,9408,2997,660
Net working capital14,3904,2617,5277,69411,65512,42111,885
Total assets70,84564,54868,28569,76578,03384,93995,212
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash3,3502,5293,7297,98613,12413,56513,903
Net cash from operating activities(7,466)8,7721404,0016577,08819,331
Net cash from investing activities(1,540)(5,578)1,0428841,6493,1038,265
Net cash from financing activities14,684(2,373)(2,383)(9,142)(7,444)(10,632)(27,934)
Net change in cash5,678821(1,201)(4,257)(5,138)(440)(338)
Closing cash10,9604,7344,4245,2329,65317,00415,039
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-5.8%+1.1%-1.6%-3.0%-10.1%-24.4%-
EBITDA growth-224.3%-64.4%-4.5%-7.0%-8.1%-23.4%-
PBT growth-269.8%-+2.5%+3.2%-0.4%-39.0%-54.3%
Net income growth+63.7%-247.9%+8.2%-4.3%-2.2%-45.3%-
Revenue CAGR (3Y)-2.1%-1.2%-5.0%-13.0%-19.2%-12.6%+4.4%
EBITDA CAGR (3Y)--31.9%-6.5%-13.2%-20.0%-12.8%+3.3%
Profitability & leverage
Net income margin-87.4%-20.8%+14.2%+13.0%+13.1%+12.0%+16.4%
Return on capital employed0.0%+3.6%+10.1%+9.8%+9.6%+9.4%+10.2%
Return on net worth0.0%-8.7%+6.5%+6.6%+7.2%+7.6%+13.5%
Debt / equity2.322.192.723.343.974.695.79
Long-term debt / equity2.141.932.363.003.563.232.83
Interest cover-176.38198.9676.8377.9280.1081.9476.90
Efficiency & per share
Fixed asset turnover0.000.000.000.000.000.000.00
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover0.000.000.000.000.000.000.00
EPS (₹)(62.46)(22.22)21.4925.1826.4326.9852.48
Dividend per share (₹)0.002.002.001.250.009.0031.00
Book value per share (₹)156.72268.25350.21387.01374.24362.27370.69
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1,4941,2152,0462,0632,1921,8801,9022,066
Revenue growth (YoY)-31.8%-35.4%+7.6%-0.2%+15.2%---
Other income24.707.897.346.578.3325.212.801.69
Total expenses(30.62)10,472275456638506390777
EBITDA1,525(9,257)1,7711,6071,5541,3731,5121,289
EBITDA margin+102.0%-761.7%+86.6%+77.9%+70.9%+73.1%+79.5%+62.4%
Depreciation17.3322.1818.5118.4418.6922.9018.4719.14
Interest1,2371,5761,3871,2211,1329711,1111,127
Profit before tax295(10,847)373373412405386144
Tax69.63(2,392)88.4697.9211411110433.78
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue7,5167,6627,4847,3647,7658,71911,399
Revenue growth-1.9%+2.4%+1.6%-5.2%-10.9%-23.5%-
Other income30.129.2454.8417.0212.3133.9916.07
Total expenses11,8411,9091,3311,0618839621,061
Employee cost550662576477435225557
EBITDA(4,325)5,7536,1536,3036,8837,75710,338
EBITDA margin-57.6%+75.1%+82.2%+85.6%+88.6%+89.0%+90.7%
Depreciation77.8278.7080.9082.6574.4090.8297.80
Interest5,3164,4104,8335,1315,8656,3087,710
Profit before tax(9,689)1,2741,2941,1069561,3922,547
Tax(2,091)331304287260334387
Net profit(1,102)9469888196961,0612,162
Net profit margin-14.7%+12.4%+13.2%+11.1%+9.0%+12.2%+19.0%
EPS (₹)(65.51)11.3717.2217.3714.8622.8950.52
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital23216611594.3293.7192.4785.51
Reserves & surplus18,61822,62717,94115,93515,55915,43014,844
Shareholders' funds (net worth)19,91622,79218,05616,02915,65215,52214,930
Secured loans44,21136,26639,40343,10952,40758,58768,443
Unsecured loans3,8854,1184,1634,3644,4914,4854,598
Total debt48,09640,38443,56547,47356,89763,07273,041
Total liabilities68,01163,17661,62163,50272,55078,59487,970
Assets
Gross block557628595676532465582
Net block276327284365263229376
Capital work in progress0.000.000.000.000.000.000.00
Investments18,28316,7529,9459,91310,22310,01816,167
Inventories0.000.000.000.000.000.000.00
Sundry debtors6.056.984.261.191.203.105.32
Cash & bank balances10,2863,6943,9564,2409,25115,08712,913
Loans & advances5,8213,9386,7605,5385,0483,0683,748
Total current assets16,1137,63810,7209,77814,30018,15816,667
Total current liabilities3,1134,8884,1764,6393,5294,8784,682
Net working capital13,0002,7506,5445,13910,77013,28011,985
Total assets68,01163,17661,62163,50272,55078,59487,970
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash2,5272,2752,8387,60611,24511,49213,357
Net cash from operating activities(5,111)6,69229.711,7671,4487,60114,080
Net cash from investing activities(2,091)(5,320)2,0002,5831,2842,5819,726
Net cash from financing activities13,284(1,120)(2,593)(9,118)(6,371)(10,428)(25,672)
Net change in cash6,082252(563)(4,768)(3,640)(246)(1,865)
Closing cash10,2863,6943,9564,2409,25115,08712,913
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-1.9%+2.4%+1.6%-5.2%-10.9%-23.5%-
EBITDA growth-175.2%-6.5%-2.4%-8.4%-11.3%-25.0%-
PBT growth--1.6%+17.0%+15.7%-31.3%-45.3%-50.5%
Net income growth-216.5%-4.2%+20.6%+17.7%-34.4%-50.9%-
Revenue CAGR (3Y)+0.7%-0.5%-5.0%-13.6%-20.4%-14.1%+0.5%
EBITDA CAGR (3Y)--5.8%-7.4%-15.2%-21.5%-12.7%+1.3%
Profitability & leverage
Net income margin-101.1%+12.3%+13.2%+11.1%+9.0%+12.1%+19.0%
Return on capital employed0.0%+9.1%+9.8%+9.2%+9.0%+9.3%+10.2%
Return on net worth0.0%+4.6%+5.8%+5.2%+4.5%+7.0%+13.4%
Debt / equity2.072.062.673.293.854.475.26
Long-term debt / equity1.911.792.282.932.822.522.73
Interest cover-120.7377.7179.5982.4986.1482.2875.29
Efficiency & per share
Fixed asset turnover0.000.000.000.000.000.000.00
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover0.000.000.000.000.000.000.00
EPS (₹)(65.51)11.3717.2217.3714.8622.8950.52
Dividend per share (₹)0.002.002.001.250.009.0031.00
Book value per share (₹)162.54274.81314.04339.88334.06335.72349.19

Timeline of Indiabulls Mutual Fund

2 dated milestones of Indiabulls Mutual Fund across 10 years, from founding to its latest funding, stage changes and deals.

  1. Founded Indiabulls Mutual Fund is founded.
  2. Exit Acquired by Groww.

Competitors of Indiabulls Mutual Fund

Indiabulls Mutual Fund has 3 listed competitors in our database. They include HDFC Mutual Fund, SBI Mutual Fund and DSP Mutual Fund.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
hdfcfund.com1999Mumbai, India1,634
Mutual fund services are provided with focus on investment management.
sbimf.com1987Mumbai, India1,555
Provides mutual funds management and financial advisory services.
dspim.com1996Mumbai, India508
Delivers comprehensive investment management services for funds.
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Detailed competitors of Indiabulls Mutual Fund

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Top companies in Asset Management

3 companies that operate in the same segment as Indiabulls Mutual Fund (Asset Management) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Provides mutual funds management and financial advisory services.
1987Mumbai, Maharashtra, India
Mutual funds, portfolio management, and retirement planning services are offered.
2001Mumbai, Maharashtra, IndiaUSD 142.4 MUSD 180.76 M1,840
Online platform for stock trading, mutual funds, and investment tools.
1994Mumbai, Maharashtra, India
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Frequently Asked Questions about Indiabulls Mutual Fund

Indiabulls Mutual Fund was founded in 2011.

Indiabulls Mutual Fund is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Raghav Iyengar is the CEO of Indiabulls Mutual Fund, as recorded in our data.

The primary company behind Indiabulls Mutual Fund, Sammaan Capital Limited, reported revenue of ₹8,190 Cr for FY 2026, down 6% year on year.

Indiabulls Mutual Fund was established in 2011 in Mumbai, India, as a fund-based investment management firm. Operations focus on the financial sector, where mutual fund schemes are offered to investors seeking portfolio diversification and growth. Services include asset management and advisory support, primarily within the Indian market. The firm is headquartered in Mumbai, with oversight from former leadership such as Raghav Iyengar, who served as CEO.

Indiabulls Mutual Fund's top competitors include SBI Mutual Fund, HDFC Mutual Fund and DSP Mutual Fund.

Yes, Indiabulls Mutual Fund is publicly traded on NSE under the ticker symbol SAMMAANCAP.

Indiabulls Mutual Fund has 1 investor. Key investors include Groww.

Indiabulls Mutual Fund operates through Sammaan Capital Limited.

Yes. Indiabulls Mutual Fund was acquired by Groww in May 2021.

The legal entities of Indiabulls Mutual Fund currently have 10 directors, including Gagan Banga, Sachin Chaudhary, Achuthan Siddharth and others.

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