Shares of Abans Holdings made positive debut as the stock listed on Friday at ₹273 on the NSE, a premium of a per cent as compared to its IPO issue price of ₹270. On the BSE, the stock started trading at ₹270 per share.
The initial public offer (IPO) of Abans Holdings, the financial services arm of the Abans Group, received 1.10 times subscription as the issue ended on Thursday, December 15. The initial share-sale got bids for 1,40,22,250 shares against 1,28,00,000 shares on offer.
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%.
Abans Holdings IPO of up to 1.28 crore equity shares had a fresh issue of up to 38 lakh equity shares and an offer for sale of up to 90 lakh equity shares. The price range for the offer was at ₹256-270 a share.
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 Non-Banking Financial Company (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. Currently, it has active businesses across countries, including UK, Singapore, UAE, China, Mauritius, and India.
