IPO-bound Abans Holdings files draft papers with SEBI

Abans Holdings Ltd. has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) to issue 12.80 million shares through its initial public offering (IPO). 

The IPO comprises a fresh issue of up to 3.80 million shares or Rs 80 crore as well as an offer for sale of up to 9 million shares by the company's promoter Abhishek Bansal, who presently holds a 96.45% stake. 

After the IPO, Bansal will hold 71.19% stake Abans Holdings. The company said it is mulling a pre-IPO placement of up to 2.5 lakh shares. Meanwhile, Aryaman Financial Services Ltd. is the only book running lead manager to the issue.

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The IPO proceeds will be utilised for further investment in its NBFC Abans Finance Pvt Ltd. for funding the expansion of the company's capital base to meet its future financing needs. Abans Finance's gross NPA (Non-Performing Asset) stood at zero as of March 2021.

Abans Holdings presently holds 91.77% stake in Abans Finance Pvt Ltd.

The consolidated total revenue of Abans Holdings for FY21 stood at Rs 1331.37 crore as against Rs 1331.37 crore. 

Net profit for the said period was Rs 45.94 crore as compared to Rs 39.27 crore a year ago. The company's outstanding debt was Rs 1331.37 crore.

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