Abans Holdings shares tumble 14% after a flat listing on the bourses

Abans Holdings shares tumble 14% after a flat listing on the bourses
  • Shares of Abans Holdings listed at ₹273 against the issue price of ₹270 per share.
  • The stock has listed exactly at ₹3 premium as indicated by grey market trends.
  • The market capitalisation of the company stood at ₹1,353 crore after listing.
Shares of the Mumbai-based financial services company Abans Holdings made a flat listing on the stock exchanges today at ₹273 against the issue price of ₹270. However, weak market sentiments dragged the scrip down, with its share price tumbling 15%.

At 10:20 a.m., shares of the company declined 15% at ₹228.

The grey market trends had also hinted the stock to get listed at ₹3 premium on exchanges, which has fallen from ₹20 premium in the last week. GMP is the premium at which IPO shares are traded in the unofficial market before they are listed on the stock exchanges.

The market capitalisation of Abans Holdings currently stands at ₹1,353 crore, according to BSE data.

Negative sentiment in the market also weighed on the listing considering benchmark indices Sensex and Nifty50 were down 0.8% in the first hour of trade today – while Sensex fell 458 points, Nifty declined 143 points.


Abans Holdings IPO received tepid demand from investors as the issue was subscribed 1.10 times. The qualified institutional buyer portion was subscribed the most at 4.10 times. The portion reserved for non-institutional investors witnessed a subscription of 1.48 times while retail was subscribed 0.40 times.

This year, 36 IPOs made their stock market debut on the BSE mainboard. Most of them gave positive listing gains, except seven issues. Here are the top five best performing IPOs in 2022.
Adani Wilmar136%
Venus Pipes & Tubes124%
Hariom Pipe Industries108%
Veranda Learning Solutions81%
Vedant Fashions 48%
(Source: BSE)

Established in 2009, Abans Holdings is engaged in financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate. It is the financial services arm of the Abans Group.

Also, it provides asset management, investment advisory and wealth management services to corporates, institutional and high net worth clients. It operates from multiple locations including India, UK, Dubai, Shanghai, Hongkong, Mauritius and Singapore.

Abans Holdings is a holding company and all its business operations are conducted through three subsidiaries and 14 step subsidiaries.

The company competes with non-banking financial companies, brokerage firms, AMCs and financial advisory firms.

Abans Holdings revenues have depleted significantly while its profits have improved consistently in the last three years along with reduction in debt.

“As can be seen, our revenues have declined mainly due to reduction in physical commodities trading due to Covid-19 related changes and our gradual movement towards exchange traded commodity instruments instead of physical commodities,” the company said in its red herring prospectus.
Particulars Revenue from operations Net profit Debt (borrowings)
FY22₹638 crore ₹61 crore ₹85 crore
FY21₹1,325 crore ₹45 crore ₹267 crore
FY20₹2,765 crore ₹39 crore ₹318 crore
Source: DRHP

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