Veteran investor Sunil Singhania executed three strategic off-market acquisitions in September 2026, securing ₹59 crore worth of positions through preferential allotment and IPO anchor book participation. According to The Financial Express, the founder of Abakkus Asset Manager put ₹50 crore into a Delhi cable maker at ₹42 per share in July 2026 through preferential allotment, while his Abakkus Growth Fund took ₹9 crore of a façade maker at the IPO price of ₹182 in September. As of closing on October 9, 2026, these positions were worth approximately ₹66 crore and ₹13 crore respectively, representing a ₹21 crore gain in just over three months. The strategy allowed Singhania to secure these investments before ordinary buyers could participate in the market.
Singhania's Abakkus Diversified Alpha Fund and Abakkus Diversified Alpha Fund-2 were allotted 1,19,04,761 shares at ₹42 per share on July 1, 2026, representing a 3.64% stake in Paramount Communications. As reported by The Financial Express, this price was determined by SEBI's formula, which looked back at earlier weeks of trading and largely captured the stock's slump. The promoters also took 72 lakh warrants at the same ₹42 price, worth ₹30.24 crore, with their stake dipping to 45.88% only due to dilution from new shares. The company, which makes power cables, railway and telecom cables, had seen exports fall from 43% of revenue in H1 FY26 to 16% in H2 FY26 following US tariffs of 50% on Indian goods. However, exports bounced back to ₹155 crore in Q1 FY27, representing 29% of revenue, with management expecting ₹700-800 crore of exports in FY27.
In a significant new development, Sunil Singhania has acquired a 1.1% stake in defence stock Bharat Earth Movers Limited (BEML) worth ₹1,769 million as of September 2026. According to Equitymaster.com, this represents a fresh entry for Singhania, who held no stake in the company in prior quarters. The investment comes as BEML delivered its best first quarter in a decade with 29% top-line growth, driven by a 178% turnaround in the Rail and Metro segment and achieving positive EBITDA for the first time with overall losses reduced by almost 50%. The company maintains a strong order book of over ₹16,000 crore with management targeting an opportunity size of ₹35,000-40,000 crore, primarily in Metro and Rail segments. In defence and mining, BEML holds L1 value of around ₹900 crore in tenders, while the company also maintains a healthy export order book of US$115 million with management optimistic of reaching US$200 million by year-end.
In a separate transaction, Abakkus Growth Fund participated in Glass Wall Systems' ₹428 crore IPO on September 16, 2026, taking 4,94,542 shares for ₹9 crore. According to The Financial Express, Singhania's holding is approximately 0.56% of the company, below the 1% threshold that triggers named entry in shareholding filings, making this investment unlikely to show up on most super investor trackers. The façade maker, incorporated in 2010, listed at ₹194 and closed as high as ₹309 on September 22, ending at ₹268 on October 9, representing a 47% gain above the anchor price. The company had completed more than 158 projects by March 2026 and reported strong financials with sales of ₹457 crore in FY26 and EBITDA margins above 20%.
The latest off-market acquisitions complement Sunil Singhania's September 2026 portfolio adjustments, which included raising holdings in 35 existing stocks while adding Zydus Lifesciences and exiting Cyient DLM. According to Mint, the fund's September portfolio disclosure shows changes across existing investments rather than a broad reshuffle, with the portfolio containing 46 stocks at the end of September, unchanged from August. The fund raised its holdings in Groww, NTPC and HDFC Bank during the month, while also adding 7 lakh shares of Zydus Lifesciences valued at ₹81.34 crore and exiting Cyient DLM after holding 1.51 lakh shares worth around ₹12.74 crore at the end of August. The fund also trimmed positions in Divi's Laboratories and Oracle Financial Services Software, selling 61,807 shares and 45,426 shares respectively.
Despite the changes in individual stocks, Abakkus Flexi Cap Fund's portfolio remained spread across 22 sectors as of September 2026. Banking emerged as the largest sector exposure, accounting for around 15.79% of net assets, followed by finance at 10.13%. The fund's AUM rose to ₹7,843.87 crore as of September 30, 2026, from ₹7,394.97 crore at the end of August. However, its cash and cash-equivalent allocation declined slightly to 6.29% of net assets in September, from 6.49% in August. The fund's performance comes amid significant market pressure, with FIIs pulling out over ₹3 lakh crore in calendar 2026 and rising bond yields affecting investor sentiment.
