Sunil Singhania-led Abakkus Asset Manager Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering. According to reports from The Financial Express, the Mumbai-based asset management platform is among the fastest-growing India-focused asset managers in terms of non-mutual fund qualified assets under management (QAAUM). The proposed IPO comprises an Offer for Sale (OFS) of up to 15 million equity shares, with each share having a face value of ₹2. The issue will include a 50% allocation for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors, along with an employee reservation portion. Axis Capital, ICICI Securities, IIFL Capital Services and JM Financial are the book-running lead managers to the issue, with KFin Technologies acting as the registrar. The shares are proposed to be listed on both stock exchanges - BSE and NSE. This marks the second fund house to enter the IPO market after SBI Funds Management that launched its public issue in July raising ₹9,813 crore.
As reported by The Financial Express, Abakkus demonstrated strong financial growth across recent years. The company reported revenue from operations of ₹765.91 crore in FY26, representing a CAGR of 29% from ₹418.60 crore in FY24. According to the latest reports, the company's profit after tax (PAT) jumped from ₹205.43 crore to ₹327.05 crore, a CAGR of 26% between FY24 and FY26. As of August end, the fund house is managing assets under management of ₹52,609 crore. The company's QAAUM stood at ₹41,409 crore as of FY26. The company managed ₹40,795 crore in listed Indian equities as of December 31, 2025, as per company information. According to the 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), with its non-mutual fund QAAUM growing at a compound annual growth rate (CAGR) of 18.39% between FY24 and FY26.
According to the latest ICRA report cited in the DRHP, Abakkus has established itself as a significant player in India's asset management sector. As of March 31, 2026, Abakkus ranked fourth in India's total equity strategy discretionary PMS segment by AUM, with AUM of ₹18,538 crore and a 5.3% market share. The company was the fastest-scaling player among the top seven operational peers with AUM above ₹12,500 crore as of March 31, 2026. Its discretionary PMS QAAUM grew to nearly ₹20,000 crore at a CAGR of 158% within six years of inception. Abakkus is among the few PMS providers within this peer group to have two discretionary equity strategies, each managing more than ₹5,000 crore of QAAUM, and had the second-largest client base among discretionary PMS providers in India as of March 31, 2026. The company had 92 employees as of December 31, 2025.
According to The Financial Express, Abakkus Asset Manager was founded on a research-driven investment philosophy focused on long-term wealth creation through fundamental investing, disciplined portfolio construction and prudent risk management. The company operates across four major business verticals: Alternates (Category III Alternative Investment Funds and Portfolio Management Services), Offshore and Other Products (Registered Investment Advisory services and the Aryabhata Fund), Private Equity (Category I and Category II AIFs), and Mutual Funds. The promoters include Sunil Banwarilal Singhania, Kanchan Sunil Singhania, Abakkus Expert Professionals LLP, SUKK Family Trust and Ecosmart Climate Solutions Private Limited. Singhania, who founded the company in 2018, is a veteran investment professional with over 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 between 2003 and 2017.
According to recent reports, Abakkus has achieved remarkable success in the mutual fund segment since its launch. The company was the fastest among asset management companies launched after April 1, 2002, to reach ₹10,000 crore in equity-category mutual fund schemes. It achieved this milestone within eight months of commencing its mutual fund operations, demonstrating exceptional growth momentum. The company entered the mutual fund segment in fiscal 2026 and launched products including Abakkus Liquid Fund, Abakkus Flexi Cap Fund and Abakkus Small Cap Fund. In a significant development, Abakkus MF announced on Monday that it has secured a licence from SEBI to foray into the specialised investment fund (SIF) space. The company will operate under the brand name 'Fokkus' in the emerging asset management segment. As per Business Standard, Abakkus managed average assets of over ₹40,000 crore through its various business verticals, with the company entering the mutual fund space in December 2025.
