BackAbans Holdings: FIIs biggest bidder, QIBs portion subscribed over 2 times on last day; Check latest GMP
Under the IPO, the company looks to raise around ₹345.60 crore from the public offer. The IPO consists of a fresh issue of 38 lakh equity shares and an offer for sale (OFS) of up to 90 lakh equity shares.
PremiumAbans Holdings IPO: The initial public offering (IPO) of Abans Holdings Ltd. received a robust response from qualified institutional buyers (QIBs) and non-institutional investors (NIIs), and on the fourth day, it was subscribed 1.10 times. In contrast to the 1,28,00,000 shares that were offered, the company received offers for 1,40,22,305 shares. On the first day, the public offering was subscribed 0.11 times, or 11%, on the second day, 0.28 times, or 28%, and on the third day, 0.46 times, or 46%. For QIBs, the company received bids for 52,47,385 shares against 12,80,000 on offer, on the 4th day this segment was subscribed 4.10 times. The proportion of retail investors subscribed 0.40 times, as against the 76,80,000 shares that were on offer for this division, the corporation received bids for 31,06,840 shares. A 1.48 times subscription was made by non-institutional investors and in contrast to the 38,40,000 shares that were on offer for this division, the corporation received bids for 56,68,080 shares today.
The IPO was launched on December 12 and will continue till December 15. Hence, Thursday is the last day for bidding on this issue.
Under the IPO, the company looks to raise around ₹345.60 crore from the public offer. The IPO consists of a fresh issue of 38 lakh equity shares and an offer for sale (OFS) of up to 90 lakh equity shares. From the total size, about 10% of the issue size is reserved for QIBs, while 30% is kept for NIIs and the highest portion which is about 60% is reserved for retail investors.
The price band is fixed at ₹256 per share to ₹270 per share at a face value of ₹2 each. The bid lot size is 55 equity shares and in multiples thereof.
About ₹80 crore proceeds from the fresh issue will be used to invest in the company's NBFC subsidiary, Aban Finance for financing the augmentation of its capital base to meet its future capital requirements. Also, proceeds will be used for general corporate purposes.
Abans Holdings is a diversified global financial services business -- providing NBFC services, global institutional trading in equities, commodities, and foreign exchange, private client stock broking, depositary services, asset management services, investment advisory services, and wealth management services to corporates, institutional and high-net-worth clients.
Post-IPO, the equity shares will be listed on exchanges like BSE and NSE.
With a GMP of ₹5, the IPO has the potential to list around ₹275 per share ( ₹5 plus ₹270 per share) as of now. Notably, the prospects of listing price may change going forward.
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