Abans Holdings IPO to open on December 12

Abans Holding is a financial services subsidiary of Abans group. The company is all set to launch its IPO on December 12. The price band of the offer is fixed at Rs 256-270 per share. One can apply in the IPO in a lot size of 55 shares and its multiples.

The anchor book will open on December 9.

As per the red-herring prospectus (RHP), issue includes a fresh issue of 38 lakh shares and an offer-for-sale of 90 lakh shares by promoter and founder Abhishek Bansal, who is also the chairman and managing director of the company.

The company will use net proceeds from the IPO to augment the capital base of the NBFC subsidiary Abans Finance and for general corporate purposes. It has reserved 60% of the issue size for retail investors, 30% for non-institutional investors and the rest 10% for qualified institutional buyers.

The company has its businesses in India, the UK, the UAE, China, and Mauritius. It has started its business with commodities trading, now operates a diversified global financial services business, providing non-banking finance company (NBFC) services, global institutional trading in equities, commodities and foreign exchange, private client stock broking, and depositary services.