Mumbai: Abakkus Asset Manager Limited, founded by Sunil Banwarilal Singhania, has filed its draft red herring prospectus with the Securities and Exchange Board of India for a public offering.
Entirely An OFS
The IPO, carrying a face value of Rs 2 per share, comprises an offer for sale of up to 1.50 crore equity shares by promoter Abakkus Expert Professionals LLP.
As the issue is entirely an OFS, Abakkus will not receive any proceeds. The listing is intended to provide the company with the benefits associated with publicly traded equity shares.
Under the book-building route, up to 50 percent of the net offer will be allocated to qualified institutional buyers. At least 15 percent will be reserved for non-institutional bidders and 35 percent for retail investors.
Rapid AUM Expansion
Founded in 2018, Abakkus provides investment management and advisory services spanning alternative investments, offshore products, private equity and mutual funds.
According to an ICRA report, Abakkus’ non-mutual fund quarterly average assets under management grew at a rate of 18 percent between FY24 and FY26.
Its discretionary PMS QAAUM reached Rs 20,000 crore, expanding at 158 percent annually within six years. The company had India’s second-largest discretionary PMS client base as of March 31, 2026.
Strong Market Position
Abakkus ranked fourth in India’s total equity strategy discretionary PMS segment, with AUM of Rs 18,538 crore and a 5.25 percent market share.
Its mutual fund business reached Rs 10,000 crore in equity schemes within eight months of launch. Its maiden equity new fund offer collected Rs 2,492.97 crore, the largest among AMCs launched after April 1, 2002.
Financial Growth
Revenue from operations increased from Rs 418.60 crore in FY24 to Rs 765.91 crore in FY26, representing a CAGR of 29 percent. Profit after tax rose from Rs 205.43 crore to Rs 327.05 crore, reflecting a CAGR of nearly 26 percent.
Axis Capital, ICICI Securities, IIFL Capital Services and JM Financial are the book-running lead managers. KFin Technologies is the registrar.
