Abakkus Venture Opportunities Fund bought shares at Rs 90

Abakkus Venture Opportunities Fund acquired 11.11 lakh equity shares at Rs 90 per share through two transfers dated August 29, 2026. The 11,11,112-share holding represented 3.18% of the 3.49 crore fully paid-up pre-offer equity shares, making Abakkus Fund the largest disclosed public shareholder in the Red Herring Prospectus.

What did Abakkus Fund buy at Rs 90 before the offer?

Abakkus Fund bought 11,11,112 equity shares at Rs 90 apiece on August 29, 2026. The acquisition consisted of two equal transfers of 5.56 lakh shares each: Signet Impex Private Limited transferred 5,55,556 shares and Signet Tradelinks Private Limited transferred another 5,55,556 shares. Each transfer record shows a face value of Rs 10 per equity share and a price of Rs 90 per equity share.

The two blocks imply aggregate consideration of Rs 1 crore and Rs 8. This was a secondary transaction, meaning shares moved from existing holders to Abakkus Fund rather than being allotted by the company. The disclosed consideration therefore identifies the transfer price between shareholders; the supplied Red Herring Prospectus does not state that the company received the money.

The August 29, 2026 transfers were part of four transactions recorded at Rs 90 per share over August 28 to August 31, 2026. Signet Impex also transferred 2.22 lakh shares to Chattisgarh Investments Limited on August 28, while 28,670 shares went from Signet Impex to Shariq Agrawal on August 31. The four transfers totalled 13.62 lakh shares, which matches the prospectus’s reported public-shareholding total.

How large is Abakkus Fund’s pre-offer holding?

Abakkus Fund held 3.18% of the company’s 3.49 crore fully paid-up equity shares at the Red Herring Prospectus date. Its 11,11,112 shares made it the largest of the three shareholders classified as public. Chattisgarh Investments Limited held 2,22,224 shares, or 0.64%, and Sharad Agrawal held 28,670 shares, or 0.08%.

The public category held 13.62 lakh shares, or 3.90% of the pre-offer capital. Abakkus Fund accounted for 81.58% of those public shares, calculated as 11,11,112 shares out of 13,62,006 shares. The prospectus also says that, as of its date, there were no shareholders with rights to nominate directors or other special rights.

Promoters and promoter-group shareholders collectively held 3.35 crore shares, or 96.10%, before the offer. Promoters held 1.70 crore shares, or 48.70%, and the promoter group held 1.65 crore shares, or 47.40%. Abakkus Fund’s 3.18% stake was therefore an external holding within a capital structure that remained 96.10% promoter-linked.

What does Abakkus Fund’s Rs 90 purchase price show?

Abakkus Fund’s Rs 90 purchase price is the latest disclosed per-share transfer price in the supplied capital-structure records. It also matches the weighted average cost of acquisition, or WACA, for all shares transacted in the one year preceding the Red Herring Prospectus. WACA is an average acquisition cost weighted by the number of shares in each transaction.

The prospectus reports a WACA of Rs 8.47 for the preceding 18 months and Rs 6.82 for the preceding three years, compared with Rs 90 for the preceding one year. The stated acquisition-price ranges for all three periods run from nil to Rs 90. The longer-period calculations include shares received through gifts and bonus issues at nil acquisition cost, which affects comparison with the one-year figure.

The Rs 90 transfer price is not the offer price. The supplied tables leave the lower and upper ends of the price band blank and say those details are subject to finalisation. A later disclosed offer price would be needed to compare the secondary-transfer price paid by Abakkus Fund with the price offered to public applicants.

How did the August 2026 transfers change ownership?

The August 2026 transactions moved 13.62 lakh shares into the three-member public category reported in the prospectus. Abakkus Fund received 11.11 lakh shares, Chattisgarh Investments Limited received 2.22 lakh shares and Shariq Agrawal received 28,670 shares. Together, those holdings equal the 13,62,006 public shares, or 3.90% of the 3.49 crore-share capital base.

Signet Impex’s reported holding declined from 21,00,760 shares, or 6.01%, 10 days before the Red Herring Prospectus to 12,94,310 shares, or 3.71%, at the prospectus date. Its 8,06,450-share decline equals the 5,55,556 shares transferred to Abakkus Fund, 2,22,224 shares transferred to Chattisgarh Investments Limited and 28,670 shares transferred to Shariq Agrawal.

Signet Tradelinks’ reported holding declined from 15,79,760 shares, or 5.04%, to 12,04,204 shares, or 3.45%, a difference of 3,75,556 shares. That reported decline does not equal its separately recorded 5,55,556-share transfer to Abakkus Fund on August 29, 2026. The supplied tables report both figures but do not explain the difference between the ownership snapshots and the transfer entry.

What other capital-structure features affect this holding?

The company had 16 shareholders at the Red Herring Prospectus date: 13 promoters or promoter-group shareholders and three public shareholders. All 3.49 crore reported equity shares were fully paid-up and held in dematerialised form. The shareholding pattern reported no partly paid-up shares, depository receipts, pledged shares, outstanding warrants or other convertible securities.

The company also reported no preference share capital and no employee stock option scheme. A February 2026 bonus issue allotted one fully paid-up equity share for every one equity share held, without cash consideration. That 1:1 bonus issue doubled holdings for recipients and means historical transfer prices, including Rs 45 per share in several March and April 2022 transfers, are not directly comparable with the subsequent Rs 90 transaction without accounting for the change in share count.

Conclusion

Abakkus Fund’s August 29, 2026 acquisition created a disclosed external-investor reference point of Rs 90 per equity share for 11.11 lakh shares. The purchase represented Rs 1 crore and Rs 8 of implied consideration, 3.18% of pre-offer capital and 81.58% of the reported public-shareholding category, while promoter-linked holders retained 96.10% of capital.

The next disclosure to watch is the prospectus update that fills in the price band and post-allotment shareholding, both of which remain blank in the supplied tables. The unresolved difference between Signet Tradelinks’ recorded 5,55,556-share transfer and its 3,75,556-share decline across the two ownership snapshots also remains a matter for any later filing to clarify.