This subsidiary will focus on lending business operations, strengthening the company’s foothold in the lending segment. Abans Holdings is looking to become a dominant player in alternative investments.
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The stock hit an intraday low of Rs 218.40 in the afternoon and stuck there till the closing. It hit a 20 percent lower circuit on the NSE, while on the BSE, too, it closed at a 20 percent lower circuit of Rs 216.
The public issue was subscribed 1.10 times between December 12-15. Retail investors bought only 40 percent shares of the quota set aside for them
The market will see three listings this week with Sula Vineyards being the first to debut on December 22, followed by financial services firm Abans Holdings and premium automobile retailer Landmark Cars a day later
Abans Holdings IPO | The Rs 345.6-crore public issue comprises a fresh issue of Rs 102.60 crore, and an offer for sale of Rs 243 crore by promoter Abhishek Bansal.
Abans Holdings is going to finalise IPO share allotment by December 20, while the refunds will be credited to unsuccessful investors by December 21, and the shares will be transferred to eligible investors by December 22.
Abans Holdings, the financial services arm of the Abans Group, intends to mobilise Rs 345.60 crore via the public issue comprising a fresh issue of Rs 102.6 crore and an offer for sale of Rs 243 crore by promoter Abhishek Bansal.
A part of the money raised by the fresh issue will be used for investment in a subsidiary, Non-Banking Financial Company Abans Finance, for augmenting its capital base to meet future requirements. The balance amount will be set apart for general corporate purposes. The offer for sale money will go to selling shareholder Abhishek Bansal.
Cholamandalam Securities has come out with its report on Abans Holdings. The research firm has recommended to “ Avoid” the ipo in its research report as on December 09, 2022.
Sula Vineyards and Abans Holdings will launch their initial public offering on December 12 with a projected mop-up of Rs 960 crore and Rs 345 crore. Landmark Cars will float its IPO the next day with an aim to raise Rs 552 crore
The IPO will open for subscription on December 12 and will close on December 15
Abans Holdings IPO | The 1.28-crore share offer comprises a fresh issue of 38 lakh shares and an offer for sale of 90 lakh shares by promoter and founder Abhishek Bansal
The initial share-sale comprises fresh issuance of equity shares of up to 38 lakh and an offer for sale of up to 90 lakh equity shares by promoter Abhishek Bansal, according to the draft red herring prospectus (DRHP).