Abans Investment Managers Ltd
The asset-management arm of the listed Abans group, running quant-driven PMS, AIF and structured-note strategies with a GIFT City fund-manager licence.
Market cap
₹248.3 Cr
0.16 Cr shares
P/E ratio
165.21
Sector average 35
Book value
₹87.69
P/B 17.65
1-year return
+13.75%
52w ₹1,238 – ₹1,935
Currently 44% of the way through its 52-week range.
Indicative price history
1Y change
+13.75% ₹1,361 → ₹1,548
52-week band in this window: ₹1,360.86 – ₹1,551.06. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Asset-management arm of listed Abans Financial Services with PMS, AIF, MLD and GIFT City fund licences.
- Series A of ₹9.88 Cr in July 2024 at a ₹150 Cr valuation from clients and distributors.
- PMS AUM about ₹135 Cr and FY24 revenue about ₹6.35 Cr; debt free.
About Abans IM
Abans Investment Managers Ltd is the asset-management subsidiary of BSE/NSE-listed Abans Financial Services Ltd (formerly Abans Holdings), the financial-services group founded by Abhishek Bansal in 2005. Incorporated in August 2022 as Abans Investment Managers Pvt Ltd and later converted into a public limited company, it packages the group's two decades of proprietary arbitrage and derivatives experience into products for outside investors.
The firm is a SEBI-registered portfolio manager offering the Abans Growth & Momentum and Smart Beta PMS strategies, an Alternative Investment Fund platform, market-linked debentures and structured notes, a US-dollar global arbitrage fund and commodity-arbitrage mandates. PMS assets under management were roughly ₹135 Cr at March 2024, and during FY25 its GIFT City branch received a Fund Management Entity licence from IFSCA, opening the door to offshore feeder funds.
In July 2024 the company raised ₹9.88 Cr in a Series A round from its own clients and distributors at a valuation of ₹150 Cr, which is the anchor for the unlisted quote. Paid-up capital is ₹1.60 Cr (about 16 lakh shares of ₹10), so at the current indicative price of ₹1,548 the equity is valued at roughly ₹250 Cr.
Only FY24 revenue (about ₹6.35 Cr), the Series A terms and registry capital figures are publicly reported; the FY23–FY25 line items below are reconstructed around those totals and should be treated as approximate.
Where the revenue comes from
- Portfolio Management Services45%
Growth & Momentum and Smart Beta discretionary PMS strategies
- AIF and offshore funds30%
Category III AIF and the US$ global arbitrage fund via GIFT City
- Structured products & MLDs20%
Market-linked debentures and structured notes distributed to HNIs
- Advisory & other5%
Commodity arbitrage mandates and treasury income
Products & services
Abans Growth & Momentum PMS
Quant-driven multi-cap momentum strategy for HNI portfolios.
Alternative Investment Fund
Category III AIF running derivatives and arbitrage strategies.
Market-linked debentures
Structured notes with pay-offs linked to indices and commodities.
US$ Global Arbitrage Fund
Offshore fund via GIFT City exploiting cross-market arbitrage.
What works
- • Part of a listed group (Abans Financial Services) with global arbitrage, broking and NBFC operations that seed products and distribution.
- • Full alternative-products licence stack: SEBI PMS, AIF, structured notes and an IFSCA Fund Management Entity licence in GIFT City.
- • Series A investors are clients and distributors, aligning the people who channel AUM with the equity.
What to watch
- • Very small scale — PMS AUM of roughly ₹135 Cr and revenue in single-digit crore make earnings volatile and fee income dependent on a handful of mandates.
- • Quant and arbitrage strategies are capacity-constrained and their track record is short; PMS performance disclosure is limited.
- • Illiquid unlisted stock with only about 16 lakh shares outstanding; price discovery leans on one 2024 funding round rather than regular trades.