Ebans Holdings: FII's biggest bid, QIB's share subscribed more than 2 times on last day; Check Latest GMP

 

• Under the IPO, the company plans to raise around ₹345.60 crore through a public offer. The IPO comprises a fresh issue of 38 lakh equity shares and an offer for sale (OFS) of 90 lakh equity shares.

Abans Holdings IPO: About half of the total equity shares offered in the IPO so far have been subscribed with foreign investors (FIIs) being the biggest bidders. The portion reserved for Qualified Institutional Buyers (QIBs) has been oversubscribed more than 2 times. While a slow pace of demand was seen among non-institutional investors (NIIs) and retail investors. In the gray market, the IPO traded at a premium of ₹5 per share.

As per NSE data, at around 11.36 am, the Abans Holdings IPO received cumulative bids for 63,41,610 equity shares---subscribing to 50% of the total offered size of 1,28,00,000 equity shares.

Further, the data showed that the QIB portion was oversubscribed by 2.19 times. FIIs are the largest investors under QIBs with bids for 27,96,365 equity shares so far. On the other hand, the portion reserved for NII and retail investors was subscribed 23% and 34%.

The IPO was launched on 12th December and will continue till 15th December. Therefore, Thursday is the last day for bidding on the issue.

Under the IPO, the company plans to raise around ₹345.60 crore from the public offer. The IPO comprises a fresh issue of 38 lakh equity shares and an offer for sale (OFS) of 90 lakh equity shares. Of the total size, around 10% of the issue size is reserved for QIBs, while 30% is earmarked for NII and the highest portion which is around 60% is reserved for retail investors.

The price band has been fixed at ₹256 per share to ₹270 per share at a face value of ₹2 per share. The bid lot size is 55 equity shares and in multiples thereof.

The proceeds of approximately ₹80 crore from the new issue will be used to invest in the company's NBFC subsidiary, Aban Finance, to finance enhancement of capital base to meet its future capital requirements. Also, the proceeds will be used for general corporate purposes.

Abans Holdings is a diversified global financial services business - providing NBFC services, global institutional trading in equities, commodities and foreign exchange, private client stock broking, depository services, asset management services, investment advisory services, and wealth management services to corporates. Institutional and High Net Worth Clients.

Post IPO, the equity shares will be listed on exchanges like BSE and NSE.

With a GMP of ₹5, the IPO currently has the potential to list at ₹275 per share (₹5 plus ₹270 per share). In particular, the listing price is likely to change going forward.