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IPO of Abans Holdings to open on December 12th

9 Dec 2022 , 10:30 AM

The IPO of Abans Holdings will open for subscription on Monday 12th December and the company has set the price range for this issue at Rs 256-270 per share.

Founded in 2009, Mumbai-based Abans Holdings is the financial services arm of the Abans Group. The company offers a wide range of services.

The initial offering of Rs345.7 crore will consist of the issuance of new shares worth Rs380 crore worth Rs102.6 crore while promoter Abhishek Bansal will sell Rs90 lakh from his shares worth Rs243 crore. issue shares.

The offer for the 3-day primary ends Thursday, December 15th. Investors may bid at least 55 shares and multiples thereof.

Proceeds from the reissue will be used to invest in NBFC’s subsidiary, Abans Finance, to increase its capital base to meet future capital needs and for general corporate purposes.

It is engaged in financial services, gold refining, jewelery, commodity trading, agricultural trading and storage, software development, and real estate.

The company operates its RBI-registered NBFC and is currently active in six countries, including India, the UK, Singapore, UAE, China, and Mauritius.

The company has reserved its 60% stake for retail investors, but non-institutional investors only receive 30% of the offering. The remaining 10% will be allocated to eligible institutional investors.

Aryaman Financial Services is the sole lead manager for the offering and Bigshare Services has been designated as the offering’s registrar. The company’s shares are listed on both the BSE and NSE.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Abans Holdings
  • IPO
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