The shares of Abans Group's financial services arm, Abans Holdings, fell as much as 12 percent on its stock market debut after listing at a premium to its IPO price. The shares dropped to as much as Rs 238.2, compared to the IPO price of Rs 273 on NSE.
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The shares made a decent debut on the stock exchanges NSE and BSE on Friday i.e. December 23. On BSE, Abans Group listed at Rs 270 apiece, at the higher end of the price band of Rs 256 to Rs 270 crore. The stock started its trading journey at a 1.1 percent premium to the issue price.
The initial share-sale opened for public subscription on December 12. The three-day Rs 364 crore IPO concluded on December 14 . The initial share-sale comprises fresh issuance of equity shares worth Rs 103 crore and an offer-for-sale of up equity shares by promoter Abhishek Bansal worth Rs 243 crore.
At present, Bansal holds a 96.45 percent stake in the company.
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.
| FY20 | FY21 | FY22 | |
| Revenue | 2765 | 1326 | 639 |
| EBITDA | 90.3 | 75.4 | 84.4 |
| PAT | 39.3 | 45.8 | 62 |
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.
The company currently has active businesses across six countries including UK, Singapore, UAE, China, Mauritius, and India. Aryaman Financial Services is the sole book-running lead manager to the issue.