Since the issue is entirely an OFS, the company will not receive any proceeds from the offer.
FinTech BizNews Service
Mumbai, 22 September, 2026: Mumbai-based Abakkus Asset Manager Limited, founded and led by Sunil Banwarilal Singhania, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).
The IPO, with a face value of Rs 2, is an offer-for-sale for up to 15,000,000 equity shares by promoter selling shareholder - Abakkus Expert Professionals LLP. Since the issue is entirely an OFS, the company will not receive any proceeds from the offer. The IPO is primarily aimed at providing the company the benefits of listing its equity shares on the stock exchanges.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
Axis Capital Ltd, ICICI Securities Ltd, IIFL Capital Services Ltd and JM Financial Ltd are the Book Running Lead Managers, while KFin Technologies Ltd is the Registrar to the Offer. The equity shares are proposed to be listed on the BSE and NSE.
Founded in 2018 by Sunil Banwarilal Singhania, a veteran investment professional with over three decades of experience in asset management and equity investing, Abakkus Asset Manager is an asset management platform offering investment management and advisory services across Alternates, Offshore and Other Products, Private Equity and Mutual Funds. Singhania previously served as Global Head of Equities – Investment – Equity at Nippon Life India Asset Management Ltd (formerly Reliance Nippon Life Asset Management) from 2003 to 2017.
The company is one of the fastest-growing India-focused asset management platforms in terms of non-mutual fund quarterly average AUM (QAAUM), which grew at a CAGR of ~18% between Fiscals 2024 and 2026. Further, the company has the second largest client base among the discretionary PMS providers in India as of March 31, 2026. Its discretionary PMS QAAUM grew to nearly Rs 200 billion, registering a CAGR of ~158% within six years of inception, making it the fastest-scaling player among the top seven operational peers in the total equity strategy discretionary PMS segment with AUM above Rs 125 billion as of March 31, 2026. (Source: ICRA Report).
The company is also ranked fourth in the total equity strategy discretionary portfolio management (PMS) segment in India by assets under management (AUM), with an AUM of Rs 185.38 billion as of March 31, 2026, and a market share of 5.25% (Source: ICRA Report).
The company is the fastest, among the newly launched asset management companies (AMCs) since April 1, 2002, to achieve Rs 100 billion in equity category [mutual fund] schemes, reaching this milestone within eight months of commencing mutual fund operations (Source: ICRA Report). Further, Abakkus Mutual Fund recorded the largest maiden equity new fund offer (NFO) collection, among the AMCs launched after April 1, 2002, raising Rs 24,929.66 million (Source: ICRA Report).
The company’s revenue from operations grew from Rs4,186.03 million in FY2024 to Rs7,659.09 million in FY2026, a CAGR of ~29%, while profit after tax increased from Rs2,054.34 million to Rs3,270.54 million, a CAGR of ~26% over the same period.
