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Asset mgmt co. Abakkus files for OFS-IPO

Business Standard   Abakkus Asset Manager  

Mumbai-based Abakkus Asset Manager has filed its draft red herring prospectus for an initial public offering of 15 million equity shares. The transaction, which represents a 10% stake in the company, will be an offer for sale (OFS) by the promoter shareholder, Abakkus Expert Professionals LLP, with no fresh issue of shares.Axis Capital, ICICI Securities, IIFL Capital, and JM Financial have been appointed as the lead managers to the issue.Led by Sunil Singhania, the firm operates across the asset management spectrum, including alternative investment funds, portfolio management services, mutual funds, private equity funds, and offshore products. The firm claims to manage average assets of over INR 40,000 crore. In FY 2025-2026, the company reported a total income of INR 796 crore and a profit of INR 327 crore.The company recently secured a licence from the Securities and Exchange Board of India to operate in the specialised investment fund space under the brand name Fokkus.