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The price range for the public offering of shares by Abans Holdings, a financial services division of the Abans Group, is set at Rs. 256–270. The IPO’s subscription period will begin on December 12 and end on December 15. On December 9, the anchor book will be accessible for the day.
The initial public offering (IPO) consists of a new issue of 38 lakh shares and a 90 lakh share offer for sale by promoter and founder Abhishek Bansal, who is also the company’s chairman and managing director. After the selling of shares, the promoter’s shareholding will fall to 72 percent from 97.4 percent.
In addition to being utilised for general corporate purposes, the proceeds will be used to increase the capital base of the NBFC subsidiary, Abans Finance, to meet future capital requirements.
Abans Holdings offers NBFC services, international institutional equity, commodity, and foreign exchange trading, as well as private client services. Additionally, it offers corporate, institutional, and high-net-worth clients services for asset management, investment advisory, and wealth management. It operates enterprises in six nations, including Hong Kong, the UK, the UAE, China, Mauritius, and India, all of which are located in the Eastern Continent.
Despite sales falling drastically by 52 percent to Rs 638.63 crore during the same period. The financial services company saw a 35 percent increase in profit for FY22 compared to the prior year. The profit for the five months that ended in August 2022 was Rs 29.7 crore on revenue of Rs 285 crore. The lone merchant banker for the public offering is Aryaman Financial Services, while Bigshare Services is the offer’s registrar.
The company has set aside 30% of the offered size for high-net-worth individuals (non-institutional investors), 60% for retail investors, and 10% for eligible institutional buyers. The financial services company’s profit increased by 35% to Rs 61.97 crore in FY22, but its sales decreased by 52% to Rs 638.63 crore during the same year.
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