Sunil Singhania’s Abakkus AMC Files DRHP For IPO As Promoter Plans 1.5 Crore-Share OFS

Abakkus Asset Manager Limited, promoted by Sunil Singhania, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), formally starting the process for its proposed initial public offering (IPO).

The issue will consist entirely of an offer for sale (OFS) of 1.5 crore shares by Abakkus Expert Professional, the promoter.

Axis Capital, ICICI Securities, IIFL Capital and JM Financial have been appointed as lead managers for the Abakkus IPO.

Abakkus FY26 Financial Performance

The company reported ₹796 crore in revenue in fiscal 2026, while its profit after tax (PAT) increased to ₹327 crore. The financial performance comes as the company operates across multiple investment-management businesses.

The company provides investment management and advisory services, with a primary focus on equity strategies. Its operations span four verticals:

• Alternates

• Offshore

• Private equity

• Mutual funds

Abakkus’ non-mutual fund quarterly average assets under management (QAAUM) grew at a compound annual growth rate (CAGR) of 18.39% between fiscal 2024 and fiscal 2026, according to an Investment Information and Credit Rating Agency (ICRA) report cited in the DRHP.

Abakkus Scales PMS And Mutual Fund Businesses

As of 31 March 2026, Abakkus ranked fourth in India’s total equity strategy discretionary portfolio management services (PMS) segment, with assets under management (AUM) of ₹18,538 crore and a 5.3% market share, according to the ICRA report.

As per the company, it was the fastest-scaling player among the top seven operational peers with AUM above ₹12,500 crore as of 31 March 2026. Its discretionary PMS QAAUM reached nearly ₹20,000 crore, growing at a CAGR of 158% within six years of inception.

Abakkus also had two discretionary equity strategies, each managing more than ₹5,000 crore of QAAUM. It had the second-largest client base among discretionary PMS providers in India as of 31 March 2026.

The mutual fund business has also expanded rapidly. Abakkus said it reached ₹10,000 crore in equity-category mutual fund schemes within eight months of starting its mutual fund operations, making it the fastest among asset management companies (AMCs) launched after 1 April 2002 to reach that milestone.

Sunil Singhania Founded Abakkus

Abakkus was founded in 2018 by Sunil Banwarilal Singhania, who has more than three decades of experience in asset management and equity investing.

Before founding the company, he 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 its investment businesses.

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