Sunil Singhania’s Abakkus Asset Manager Seeks Approval for IPO with DRHP Submission to Sebi

Abakkus Asset Manager Ltd. has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 22, 2026, signaling its intention to launch an initial public offering (IPO). The proposed IPO, consisting entirely of an Offer for Sale (OFS) of 15 million equity shares with a face value of Rs 2 each, signifies that the proceeds will benefit existing shareholders rather than the company itself. With a proposed distribution of the offering, 50% is allocated for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. Notably, there is also an earmarked employee reservation portion as part of the issue structure.

The financial performance of Abakkus has shown impressive growth over the last three fiscal years. For FY26, the company reported a notable revenue of Rs 796 crore, an increase from Rs 707 crore in FY25 and Rs 479 crore in FY24. Alongside revenue growth, profit after tax (PAT) also rose sharply to Rs 327 crore, up from Rs 258 crore in FY25 and Rs 205 crore in FY24. This financial trajectory showcases the company’s effective investment strategy focused on long-term wealth creation and rigorous portfolio management. Additionally, according to the ICRA Report, Abakkus is recognized as one of the fastest-growing asset management platforms in India, emphasizing its established position in the discretionary Portfolio Management Services segment.

While specific grey market sentiment has not been detailed in the available data, the robust financial metrics and growth rate suggest a potentially positive reception among investors. The IPO marks a significant milestone for Sunil Singhania and his team, with high expectations for capitalizing on the burgeoning demand for asset management services in India. The proposed listing has notable implications for Indian investors, particularly retail participants, who stand to gain from diversifying their portfolios by investing in a high-growth asset management entity backed by a seasoned management team.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)