Abakkus Asset Manager, a firm founded and promoted by veteran investor Sunil Banwarilal Singhania, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
The proposed IPO will be structured entirely as an Offer for Sale (OFS), involving the divestment of 1.5 crore equity shares by the promoter, Abakkus Expert Professional. Leading the issue are prominent financial institutions: Axis Capital, ICICI Securities, IIFL Capital, and JM Financial, who will serve as the lead managers.
Strong Financial Performance and Market Position
Abakkus Asset Manager has demonstrated robust financial growth. For the fiscal year 2026, the company reported a significant revenue of Rs 796 crore, alongside a profit after tax (PAT) of Rs 327 crore. The firm specializes in providing investment management and advisory services, primarily focusing on equity strategies across four key business verticals: alternates, offshore, private equity, and mutual funds.
According to an ICRA report cited in the DRHP, Abakkus stands out as one of India's fastest-growing asset management platforms, particularly in the non-mutual fund quarterly average assets under management (QAAUM) segment. It recorded an impressive compound annual growth rate (CAGR) of 18.39% between FY24 and FY26.
As of March 31, 2026, Abakkus secured the fourth position in India's total equity strategy discretionary Portfolio Management Services (PMS) segment by assets under management (AUM), boasting an AUM of Rs 18,538 crore and a market share of 5.3%. The ICRA report further highlighted Abakkus as the fastest-scaling player among the top seven operational peers with AUM exceeding Rs 12,500 crore as of the same date.
Rapid AUM Expansion and Client Growth
The company's discretionary PMS QAAUM surged to nearly Rs 20,000 crore, achieving a CAGR of 158% within just six years of its inception. Abakkus is also noted for being among the few PMS providers in its peer group to manage two discretionary equity strategies, each overseeing more than Rs 5,000 crore in QAAUM.
In terms of client base, Abakkus held the second-largest position among discretionary PMS providers in India as of March 31, 2026. Furthermore, it demonstrated exceptional speed in the mutual fund sector, becoming the fastest among Asset Management Companies (AMCs) launched after April 1, 2002, to reach Rs 10,000 crore in equity-category mutual fund schemes, achieving this milestone within eight months of commencing mutual fund operations.
Leadership and Vision
Founded in 2018 by Sunil Banwarilal Singhania, Abakkus benefits from his extensive experience of over three decades in asset management and equity investing. Prior to establishing Abakkus, Singhania served as the Global Head of Equities in the Investment - Equity function at Nippon Life India Asset Management from 2003 to 2017. Since its inception, Abakkus has strategically expanded its footprint through various regulated investment vehicles and licenses, building a comprehensive asset management platform encompassing PMS, Alternative Investment Funds (AIFs), private equity, and mutual funds.