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). The IPO will be entirely an offer-for-sale of 1.5 crore shares, sold by Abakkus Expert Professional, the promoter.

Axis Capital, ICICI Securities, IIFL Capital and JM Financial are acting as the lead managers to the issue.

In FY26, the company reported revenue at Rs 796 crore and PAT increased to Rs 327 crore.

Abakkus is among the fastest-growing India-focused asset management platforms in terms of non-mutual fund quarterly average assets under management (QAAUM), which grew at a compound annual growth rate (CAGR) of 18.39% between FY24 and FY26, according to an ICRA report cited in the DRHP.

The company provides investment management and advisory services, primarily focused on equity strategies, across four business verticals: Alternates, Offshore, Private Equity and Mutual Funds.

As of March 31, 2026, Abakkus 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 grew to nearly Rs 20,000 crore at a CAGR of 158% within six years of inception.

Abakkus also said it is among the few PMS providers within this peer group to have two discretionary equity strategies, each managing more than Rs 5,000 crore of QAAUM. It had the second-largest client base among discretionary PMS providers in India as of March 31, 2026, according to the ICRA report.

The company has also rapidly scaled its mutual fund business. Abakkus said it was the fastest among AMCs launched after April 1, 2002, to reach Rs 10,000 crore in equity-category mutual fund schemes, achieving the milestone within eight months of commencing 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 between 2003 and 2017.