New subsidiary to engage in lending activities, subject to approvals
Abans Holdings Limited (AHL | 543712 | INE00ZE01026) of Mumbai has been appointed as an investment manager for Alternative Investment Funds (AIFs) in the GIFT City as it enters the mutual fund industry, Founder & Chairman Abhishek Bansal said on 28 Dec 2023.
Abans is always seeking out promising business opportunities, said Bansal, adding “Among our most recent initiatives is the appointment as investment manager for AIFs.”
“Over the past year, we have demonstrated resiliency, flexibility, and strategic insight as it represents a major turning point.”
Abans Finance Pvt Limited, which is a step-down subsidiary, is currently in the process of establishing a wholly-owned subsidiary in GIFT City. This new subsidiary will be engaged in lending activities, subject to regulatory approvals.
The primary objective of this initiative is to enable the company to earn interest in dollar terms and provide access to the global market for its lending business, he explained.
It aspires to emerge and become a dominant player in the global asset management space, he added.
The group purchased the Momentum Portfolio from SATCO Capital Markets Limited in April this year to accelerate expansion even more. Since its launch, the portfolio has produced an impressive 21.6% CAGR.
Abans Holdings practices growth hacking, which stresses innovation, technological integration, strategic relationships, flexibility, and hiring the right people.
By employing innovative techniques and cutting-edge technology, Abans intends to promote rapid and consistent growth in the highly competitive financial services business by streamlining processes, forming strategic alliances, and being flexible to changing market conditions, said Bansal.
Abans Holdings has also celebrated one year of listing on the BSE and NSE.
Abans Holdings Ltd is a diversified financial services company that caters to whole gamut of financial businesses such as Institutional Broking, Asset Management, Financial Lending, Treasury operations and Remittance Services. Fiinews.com
