10 hrs ago
Abakkus Asset Manager Files IPO With Entire Offer For Sale
Abakkus Asset Manager wants to list its shares on the stock market.
It has filed the first major IPO document with SEBI.
The IPO may include up to 15 million shares.
However, the company is not selling new shares to raise money.
Instead, its promoter shareholder, Abakkus Expert Professionals LLP, will sell all the shares offered.
This means the money from the sale will go to that shareholder, not to Abakkus itself.
Abakkus manages investments through products such as alternative investments, private equity and mutual funds.
Its assets under management and profits have increased in recent years.
The company has not yet announced the price or dates for the IPO.
Abakkus Asset Manager has filed a draft red herring prospectus with SEBI for an IPO of up to 15 million shares.
The IPO will be a pure offer for sale, with all shares being sold by promoter shareholder Abakkus Expert Professionals LLP.
The company itself will receive no proceeds, saying the listing is intended to provide the benefits of having its shares publicly traded.
Promoter and promoter-group holdings account for 99.79% of the company before the offer.
Quarterly average assets under management rose from Rs 27,310 crore in FY24 to Rs 41,409 crore in FY26, while FY26 profit reached Rs 327.05 crore.
- Who
- Abakkus Asset Manager, its promoter shareholder Abakkus Expert Professionals LLP, and founder Sunil Banwarilal Singhania.
- What
- Abakkus Asset Manager has filed a DRHP for an IPO of up to 15 million equity shares, structured entirely as an offer for sale.
- Where
- The shares are proposed to be listed on the BSE and the NSE.
- When
- The DRHP has been filed; the IPO price band and dates have not yet been announced.
- Why
- The company said the listing is primarily intended to provide the benefits associated with having its equity shares listed on stock exchanges; the article does not state a specific reason for the promoter’s sale.
Key facts
- Proposed issue size
- Up to 15 million equity shares with a face value of Rs 2 each
- Issue structure
- Pure offer for sale; no new shares are being issued
- Selling shareholder
- Abakkus Expert Professionals LLP
- Pre-offer promoter ownership
- The promoter and promoter group hold 99.79% of the company
- Assets under management
- Quarterly average AUM rose from Rs 27,310 crore in FY24 to Rs 41,409 crore in FY26
- FY26 revenue
- Rs 765.91 crore
- FY26 profit after tax
- Rs 327.05 crore
Sources
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