Positive impactIPO
Sunil Singhania-led Abakkus Asset Manager files DRHP with Sebi for IPO
Economic Times 2 hrs ago·22 Sept 2026, 10:54 am
Abakkus Asset Manager, led by veteran investor Sunil Singhania, has submitted its draft red herring prospectus (DRHP) to market regulator SEBI. The firm plans to raise funds through an Offer for Sale (OFS) of 15 million shares, which will be sold by existing promoters and shareholders.
This IPO is significant as it marks the entry of a new asset management company in India. Abakkus has reported strong financials, with revenue of Rs 796 crore and profit after tax of Rs 327 crore for the fiscal year ending March 2026. The company is also seeing robust growth in its non-mutual fund businesses, including Portfolio Management Services (PMS).
For investors, this listing offers a chance to invest in a firm backed by a well-known fund manager. The company's focus on high-net-worth individuals and its strong financial performance make it a notable event in the market. Watch for the final prospectus and the price band announcement to understand the valuation and listing details.
Key takeaways
- Category: IPO.
- AI reads the tone as positive (potentially bullish) for the stock.
- Assessed as a significant, market-relevant update.
Why it matters
A meaningful update worth tracking. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
