Sunil Singhania-led Abakkus Asset Manager has filed draft papers for an initial public offering, according to reports from NDTV and Business Line. The proposed transaction does not involve a fresh issue of shares; it is structured as an offer for sale (OFS). The promoter, Abakkus Expert Professional, will sell shares as part of the plan.
Both outlets say the OFS is for up to about 1.50 crore shares, described in one report as 1.5 million shares. The filings are for the IPO process, but the exact number of shares and final details are subject to regulatory review and subsequent approvals. The reports do not indicate raising new capital through the sale, as the offering is limited to shares held by the promoter entity.
While the outlets broadly agree on the OFS-only nature and the approximate share count, they differ slightly in how they express the total number of shares.
