Abans Holdings, financial services arm of the Abans Group, has filed preliminary papers with capital markets regulator Sebi to mop-up funds through an initial public offering (IPO).
The initial share-sale comprises fresh issuance of equity shares of up to 38 lakh and an offer for sale of up to 90 lakh equity shares by promoter Abhishek Bansal, according to the draft red herring prospectus (DRHP).
At present, Bansal holds a 96.45 per cent stake in the company.
The company is considering a pre-IPO placement of up to 2.5 lakh equity shares. If the placement is undertaken, the fresh issue size will be reduced.
Proceeds from the fresh issue will be utilised towards investment in its NBFC subsidiary, Abans Finance, for financing the augmentation of its capital base to meet future capital requirements and for general corporate purposes.
The company operates a diversified global financial services business, providing NBFC services, global institutional trading in equities, commodities and foreign exchange, private client stockbroking, depositary services, asset management services, investment advisory services, and wealth management services to corporates, institutional and high net worth individual clients.
It currently has active businesses across six countries including UK, Singapore, UAE, China, Mauritius, and India.
Aryaman Financial Services is the sole book-running lead manager to the issue.
