Abans Holdings listed flat on the stock market

23 Dec 2022 , 10:20 AM

The shares of Abans Group’s financial services arm, Abans Holdings, made a flat debut on the stock exchanges NSE and BSE on Friday i.e. December 23. On BSE, Abans Group listed at Rs 270 apiece on BSE and at Rs 273 on NSE, at the higher end of the price band of Rs 256 to Rs 270 crore. The company listed at a premium of 1.1% to the issue price on NSE.

The company is a holding company which is dependent on 17 other subsidiaries and also operates in a highly competitive industry. Abans holdings was incorporated in 2009, is engaged in the business of financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate.

The Rs 345.60 crore IPO of the company was sold at the price range of Rs 256-270 per share from December 12-15. The company has reserved 10% for QIBs, 60% for retail and rest 30% for NIIs.