Abans Holdings IPO opens today: Check price band, GMP & other details

The initial public offering (IPO) of Abans Holdings would open for public subscription on Monday. The three-day initial share sale would conclude on December 15. Abans Holdings is the financial services arm of the Abans Group.

The company has fixed the IPO price band at Rs 256-270 per share. The lot size of Abans Holdings IPO is 55 shares, for which one has to spend Rs 14,850. A retail individual investor can submit bids for up to 13 lots or 715 shares by spending Rs 1,93,050.

The issue comprises fresh issuance of equity shares of up to 38 lakh and an offer-for-sale (OFS) of up to 90 lakh equity shares by promoter Abhishek Bansal. He currently holds a 96.45 per cent stake in the company.

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Abans Holdings stated that proceeds from the IPO would be utilised towards investment in its NBFC (non-banking financial company) subsidiary, Abans Finance.

The company operates a diversified global financial services business. It currently has a presence in six countries including the UK, Singapore, UAE, China, Mauritius, and India.

Aryaman Financial Services is the sole book-running lead manager to the issue and Bigshare Services is the registrar.

Grey market premium

Market participants said Abans Holdings IPO grey market premium (GMP) was at Rs 10. It implied that the grey market expected the company to list around Rs 280 (Rs 270 + Rs 10), a little over 3.5 per cent higher than the IPO's upper band price of Rs 270 per equity share.

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The financial services firm posted a 35 per cent growth in profit for 2021-22 (FY22) on a yearly basis. However, revenues dropped significantly, by 52 per cent, to Rs 638.63 crore in the same period.