Sunil Singhania’s Abakkus AMC Files DRHP for a Fully Offer-for-Sale IPO
- September 23, 2026
- Posted by: Harsh Piplani
- Category: News
Abakkus Asset Manager files DRHP with SEBI. IPO entirely OFS, 1.5 crore shares by promoter Abakkus Expert Professional. FY26 revenue Rs 796 cr, PAT Rs 327 cr. QAAUM CAGR 18.39% (FY24-26).
Quick Answer
Abakkus Asset Manager Limited, promoted by well-known investor Sunil Singhania, has filed its draft red herring prospectus with the Securities and Exchange Board of India. The IPO will be entirely an offer for sale of 1.5 crore shares, sold by the promoter entity Abakkus Expert Professional, meaning the company itself will not raise any fresh capital through the issue. Axis Capital, ICICI Securities, IIFL Capital and JM Financial are acting as lead managers. In FY26, the company reported revenue of Rs 796 crore and profit after tax of Rs 327 crore, with its non-mutual fund quarterly average assets under management growing at a compound annual rate of 18.39 percent between FY24 and FY26, according to an ICRA report cited in the DRHP.
Abakkus Asset Manager Limited, promoted by Sunil Singhania, has filed its draft red herring prospectus with SEBI for an initial public offering structured entirely as an offer for sale of 1.5 crore shares, meaning all proceeds will go to the selling promoter entity rather than the company itself.
Axis Capital, ICICI Securities, IIFL Capital and JM Financial are acting as lead managers to the issue, which Moneycontrol had exclusively reported on earlier this year ahead of the formal filing.
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Why a Fully Offer-for-Sale Structure Matters
Since the entire issue is an offer for sale by Abakkus Expert Professional, the promoter entity, rather than including any fresh issue component, Abakkus Asset Manager itself will not receive any of the IPO proceeds, which will instead go entirely to the selling shareholder.
This structure is common for asset management and financial services companies going public, since such businesses often generate strong free cash flow from fee income and require comparatively little capital investment to grow, reducing the need to raise fresh equity capital through the listing process.
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What Abakkus’s Financials Show
Abakkus reported revenue of Rs 796 crore and profit after tax of Rs 327 crore in FY26, implying a net margin of roughly 41 percent, a healthy figure typical of asset management businesses where the primary costs are people and technology rather than physical infrastructure or inventory.
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The company’s non-mutual fund quarterly average assets under management, which likely spans portfolio management services and alternative investment funds, grew at a compound annual rate of 18.39 percent between FY24 and FY26, a pace that an ICRA report cited in the DRHP places among the fastest-growing India-focused asset management platforms in this specific category.
Sunil Singhania’s Profile and What It Means for the IPO
Sunil Singhania is a well-known figure in Indian equity markets, having built a reputation through his prior career at a major domestic mutual fund house before founding Abakkus, and his personal brand and track record are likely to be a meaningful part of the company’s pitch to prospective IPO investors.
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Investors evaluating this IPO once it opens should focus on the durability of Abakkus’s AUM growth and fee structure, along with typical risks for asset managers, including performance-linked outflows and key-person dependency risk given the prominence of its founder, details that would be laid out more fully in the red herring prospectus once filed.
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Conclusion
Abakkus Asset Manager’s DRHP filing for a fully offer-for-sale IPO gives investors an early look at a fast-growing, Sunil Singhania-led asset management platform with strong FY26 profitability, though the listing timeline and price band are yet to be announced. Investors should review the detailed prospectus once available and consult a SEBI-registered investment adviser before making investment decisions.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs
What kind of IPO structure has Abakkus Asset Manager filed for?
Ans. The IPO will be entirely an offer for sale of 1.5 crore shares sold by the promoter entity Abakkus Expert Professional, with no fresh issue component.
Who promotes Abakkus Asset Manager?
Ans. The company is promoted by well-known investor Sunil Singhania.
What were Abakkus’s FY26 financials?
Ans. The company reported revenue of Rs 796 crore and profit after tax of Rs 327 crore in FY26.
How fast has Abakkus’s AUM grown?
Ans. Its non-mutual fund quarterly average assets under management grew at a compound annual growth rate of 18.39 percent between FY24 and FY26, according to an ICRA report cited in the DRHP.
Who are the lead managers to the Abakkus IPO?
Ans. Axis Capital, ICICI Securities, IIFL Capital and JM Financial are acting as lead managers to the issue.
Will Abakkus Asset Manager receive any proceeds from the IPO?
Ans. No. Since the issue is entirely an offer for sale, all proceeds will go to the selling promoter entity rather than the company itself.
