- Abakkus Asset Manager filed DRHP with SEBI for an IPO via an offer for sale of 1.5 crore shares
- The company reported Rs 796 crore revenue and Rs 327 crore PAT in FY26, with strong growth metrics
- Abakkus ranks fourth in India's equity strategy discretionary PMS segment with Rs 18,538 crore AUM
Sunil Singhania-led Abakkus Asset Manager Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The proposed IPO will be entirely an offer for sale (OFS) of 1.5 crore shares. The shares will be sold by Abakkus Expert Professional, the promoter of the company.
Axis Capital, ICICI Securities, IIFL Capital and JM Financial have been appointed as the lead managers for the issue.
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Abakkus Asset Manager reported revenue of Rs 796 crore in FY26, while profit after tax (PAT) stood at Rs 327 crore.
According to an ICRA report cited in the DRHP, Abakkus is among the fastest-growing India-focused asset management platforms in terms of non-mutual fund quarterly average assets under management (QAAUM). Its non-mutual fund QAAUM grew at a compound annual growth rate (CAGR) of 18.39% between FY24 and FY26.
The company provides investment management and advisory services, with a primary focus on equity strategies. Its operations are spread across four business verticals — Alternates, Offshore, Private Equity and Mutual Funds.
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Abakkus has built a significant presence in the discretionary portfolio management services (PMS) segment. As of March 31, 2026, it ranked fourth in India's total equity strategy discretionary PMS segment by AUM, with AUM of Rs 18,538 crore and a 5.3% market share, according to the ICRA report.
The company said it was the fastest-scaling player among the top seven operational peers with AUM above Rs 12,500 crore as of March 31, 2026. Its discretionary PMS QAAUM increased to nearly Rs 20,000 crore, registering a CAGR of 158% within six years of inception.
Abakkus also said it is among the few PMS providers in this peer group to have two discretionary equity strategies, each managing more than Rs 5,000 crore of QAAUM.
The company had the second-largest client base among discretionary PMS providers in India as of March 31, 2026, according to the ICRA report.
Abakkus has also expanded rapidly in the mutual fund segment. The company said it was the fastest among asset management companies launched after April 1, 2002, to reach Rs 10,000 crore in equity-category mutual fund schemes. It achieved the milestone within eight months of commencing its mutual fund operations.
Abakkus was founded in 2018 by Sunil Banwarilal Singhania, who has more than three decades of experience in asset management and equity investing. Singhania previously served as Global Head of Equities in the Investment - Equity function at Nippon Life India Asset Management from 2003 to 2017.
Since its inception, Abakkus has expanded through multiple regulated investment vehicles and licences, building an asset management platform across portfolio management services, alternative investment funds, private equity and mutual funds.
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