MC EXCLUSIVE Sunil Singhania led Abakkus Asset Manager weighing FY27 IPO; to shortlist advisors soon

.

• Abakkus Asset Manager ends IPO pitches, eyes FY27 listing.
• Firm may opt for offer for sale; BRLMs to be picked soon.
• Abakkus manages Rs 40,795 Cr in Indian equities as of Dec 2025.

Did our AI summary help?

Indian equity markets veteran Sunil Singhania led Abakkus Asset Manager has concluded IPO pitches with a clutch of investment banks as the firm evaluates options for a listing in FY 27, multiple industry sources in the know told Moneycontrol.

“The pitches were held recently and the banks for the BRLM (book running lead managers) syndicate will be finalized soon, possibly in a week’s time. This will be a well-contested mandate and many banks are keen on come on board and its up to Sunil to pick the set of preferred advisors,” said one of the persons above.

A second person added, “Abakkus Asset Manager has done really well since its inception and though the firm doesn’t need capital per se, an IPO becomes a solid wealth creation event for the overall team by monetizing employee stock options. That is the intention and the natural route to attract and retain talent.”

“Conversations have been going with bankers for several months on this proposed deal. As of now, the plan is for the issue to be an offer for sale. This has happened in the past with other asset management listings as well. The deal will be of a good size," a third person said, warning that plans may change depending on market conditions.

According to a fourth person familiar with ongoing discussions, “There are other listed mutual funds and firms like EAAA and Gaja Capital are also at various stages of the listing process, so why not Abakkus Asset Manager as well? People want more capital market product firms to buy into.”

All the four persons above spoke to Moneycontrol on the condition of anonymity.

An email query to Sunil Singhania on the firm’s IPO plans remained unanswered at the time of publishing this article.

ICICI Prudential Asset Management was the last major asset management IPO in India which listed on the bourses in December 2025. It became the country’s fourth most subscribed IPO at the time.

A closer look at Sunil Singhania and Abakkus

Singhania, a balance-sheet focussed investor with a keen eye on numbers, has been tracking Indian equity markets for nearly three decades and has been on the buy - side managing equity assets for the last 21 years.

He founded Abakkus Asset Manager LLP in 2018 and the alpha focused boutique asset manager manages Rs 40,795 Crores or $4.54 billion (as on December 31, 2025) in listed Indian equities. Abakkus has a 92-member strong team as per the firm’s website. The firm’s product portfolio includes portfolio management services, alternative investment funds, private equity funds, registered investment advisory and institutional offerings, the website says.

Earlier, Singhania was the CIO-equities and Global head-Equities at Reliance Capital group, managing India-focussed equities of over $10 billion. A CA and CFA Charter Holder, he is the first Indian to be appointed on the Global Board of CFA institute, USA (2013-2019).

According to a profile by Moneycontrol dated December 2, 2025, “Singhania’s philosophy has long been anchored in simplicity. His well-known 15x15x15 matrix — 15% earnings growth, 15% ROE and a 15x P/E — is his shorthand for long-term compounding. What sets him apart is his ability to ignore noise and focus relentlessly on earnings quality, growth durability and, crucially, what you pay for it. His stance on the industry’s eternal “value versus growth” debate is unfashionably direct, and in line with what great investors, including Warren Buffett, have deeply understood and doggedly practised.”

Also Read: After 40% corrections, broader market offers alpha, says Sunil Singhania