Financial services-focused Abans Holdings files for IPO

Abans Holdings, financial services arm of the Mumbai-based Abans Group, has filed for an initial public offering (IPO). The IPO comprises fresh issuance of equity shares of up to 38 lakh and an offer for sale of up to 90 lakh equity shares by promoter Abhishek Bansal. At present, Bansal holds a 96.45% stake in the company. Aryaman Financial Services is the sole book-running lead manager to the issue. 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.