The initial stake sale of Abans Holdings will kick off for subscription on Monday, December 12, and the company has fixed its price band at Rs 256-270 apiece for the issue.
Incorporated in 2009, Mumbai-based Abans Holdings is the financial services arm of Abans Group. The company provides a wide range of services.
The Rs 345.70-crore initial offering consists of issuance of 38 lakh fresh equity shares worth Rs 102.6 crore, whereas promoter Abhishek Bansal will offload 90 lakh equity shares worth Rs 243 crore from his stake.
The three-day long primary offering will conclude on December 15, Thursday. Investors can make a bid of minimum of 55 equity shares and its multiple thereof.
Proceeds from the fresh issue will be utilised towards investment in its NBFC subsidiary, Abans Finance, to augment its capital base to meet future capital requirements and for general corporate purposes.
It is engaged in financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate.
The company operates an RBI-registered NBFC and currently has active businesses across six countries, including UK, Singapore, UAE, China and Mauritius, besides India.
The company has reserved 60% of equity shares for retail investors, whereas non-institutional investors will get only 30% of the offer. Remaining 10% will be allocated to the qualified institutional investors.
is the sole book-running lead manager to the issue, whereas Bigshare Services has been appointed as the registrar to the issue. Shares of the company will be listed at both BSE and NSE.
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