Abans Holdings IPO opens for subscription today: All you need to know

The Initial Public Offering (IPO) of Abans Holdings, which is the financial services arm of Abans Group, will open for subscription today, 12 December. The IPO will conclude on 15 December. The IPO’s price band has been fixed at Rs 256-270 apiece by the company. Investors can bid for a minimum of 55 equity shares and in their multiples thereafter. For retail investors, Abans Holdings has reserved 60 per cent of the public issue, while 30 per cent of the offer has been set aside for non-institutional investors. The remaining 10 per cent portion of the Abans Holdings IPO has been reserved for qualified institutional investors.

The Rs 345.7 crore initial share sale contains fresh issuance of up to 38 lakh shares and an offer-for-sale (OFS) of up to 90 lakh equity shares by promoter Abhishek Bansal. Proceeds from the issue are going to be used by Abans Holdings for investing in its Non-Banking Financial Company (NBFC) subsidiary Abans Finance. The funds will also be utilised for augmenting the company’s capital base in order to meet future capital requirements and general corporate purposes.

Aryaman Financial Services is the sole book-running lead manager to the issue, while Bigshare Services is the registrar. The shares of the company are going to be listed on both NSE and BSE on 23 December.

Abans Holdings manages a diversified global financial services business. It provides NBFC services, commodities and foreign exchange, asset management services, global institutional trading in equities, private client stockbroking, wealth management services, depositary services and investment advisory services to institutional, corporate and high-net-worth individual clients.

The company has active businesses in six countries- India, Singapore, the UAE, the UK, Mauritius and China. Since its establishment in 2009-10, it has grown from being a commodities trading firm into a diversified multi-asset and multi-national financial services corporation. The NBFC is mainly focused on lending to private traders, and other small and medium businesses that are involved in the commodities trading market.

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