The initial public offering (IPO) of Abans Holdings, financial services arm of the Abans Group, will open for public subscription on December 12, 2022. According to the red herring prospectus (RHP), the three-day initial public offering will close on December 15, 2022.
Incorporated in 2009, Abans Holdings Limited is engaged in financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate. The company represents the financial services arm of the Abans Group.
The company operates a diversified global financial services business, providing Non-Banking Financial Company (NBFC) services, global institutional trading in equities, commodities and foreign exchange, private client stockbroking, depositary services, asset management services, investment advisory services, and wealth management services to corporates, institutional and high net worth individual clients.
The company has active businesses in six countries across the Eastern Continents, including Hong Kong, the UK, UAE, China, Mauritius and India.
Abans Holdings listing details
Abans Holdings Limited initial public offering of ₹345.60 crore will hit the market for subscription on Monday, December 12, 2022 and close on Thursday, December 15, 2022. The price band of the offer has been fixed at ₹256-270 per equity share of face value of ₹2 each.
The initial share-sale comprises fresh issuance of equity shares of up to 38 lakh and an offer-for-sale of up to 90 lakh equity shares by promoter Abhishek Bansal. At present, Bansal holds a 96.45 per cent stake in the company. Aryaman Financial Services is the sole book-running lead manager to the issue.
|IPO opening date||Dec 12, 2022|
|IPO closing date||Dec 15, 2022|
|Basis of allotment||Dec 20, 2022|
|Initiation of refunds||Dec 21, 2022|
|Credit of shares to demat||Dec 22, 2022|
|IPO listing date||Dec 23, 2022|
Objective of issue
The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:
- Further Investment in the NBFC Subsidiary (Abans Finance Pvt. Ltd.) for financing the augmentation of its capital base to meet its future capital requirements.
- General corporate purpose.
Financials of Abans Holdings
A quick glance at the financial performance of Abans Holdings over the last three years.
Total assets ( ₹ Crore)
Total revenue ( ₹ Crore)
Profit after tax ( ₹ Crore)
- An integrated financial services platform.
- Strong human capital and organisational culture.
- Global exposure providing innovative financial products.
- Strong relationships with clients and market participants.
- Standardised operating procedures and efficient use of technology.
- The company is in the finance sector and heavily dependent on its ability to raise funds from the debt markets and other financial institutions.
- Legal proceedings against group companies.
- Too many subsidiaries.
How to check the allotment status of Abans Holdings Limited IPO?
- One can check the allotment status for the Abans Holdings Limited IPO on the website of the registrar and transfer agent.
- Alternatively, individuals can also check the allotment status on the NSE website.