Abans Holdings IPO: Share allotment date, latest GMP & more

The initial public offering IPO of Abans Holdings, the financial services arm of the Abans Group, received 1.10 times subscription. The initial share sale got bids for 1,40,22,250 shares against 1,28,00,000 shares on offer, according to data available with exchanges.

The category meant for Qualified Institutional Buyers (QIBs) was subscribed 4.10 times, non-institutional investors got 1.48 times subscription, and Retail Individual Investors (RIIs) 40 per cent.

The share allotment status would be finalised by Tuesday (December 20) for an expected listing on December 23.

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The company had fixed the IPO price band at Rs 256-270 per share. The lot size of Abans Holdings IPO was 55 shares, for which one had 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 comprised 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.

Grey market premium

Market participants said Abans Holdings IPO grey market premium (GMP) was last seen at discount of Rs 2. It implied that the grey market expected the company to witness a tepid listing.

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 presence in six countries, including the UK, Singapore, UAE, China, Mauritius, and India.

Aryaman Financial Services was the sole book-running lead manager to the issue, while Bigshare Services was the registrar.

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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.