The Abans Holdings IPO will open for subscription on Monday 12th December and the company has priced the issue at Rs 256-270 per share.
Founded in 2009, Abans Holdings, based in Mumbai, is the financial services arm of 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 whilst promoter Abhishek Bansal will sell Rs90 lakh of its shares worth Rs243 crore. issuance of shares.
The offer for the 3-day primary school ends on Thursday 15th December. Investors can bid at least 55 shares and multiples thereof.
Proceeds from the relaunch 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, jewelry, commodity trading, agricultural trading and storage, software development and real estate.
The Company operates its NBFC registered with RBI and is currently active in six countries including India, UK, Singapore, UAE, China and Mauritius.
The company has reserved its 60% stake for retail investors, but non-institutional investors will only get 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 Registrar of the Offering. The company’s shares are listed on both the BSE and the NSE.
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