We don’t

just respond to market shifts — we anticipate them.

chase growth — we design it with structure and foresight.

speak in aspiration alone — we lead with data, discipline, and delivery.

Abans Financial Services Ltd. (AFSL) is a diversified financial services institution, listed on the BSE and NSE, with operations across India, United Kingdom, Mauritius, Dubai and GIFT City. Since our incorporation in 2009, we have transitioned from a proprietary trading firm into a multi-asset, risk-managed platform offering investment, lending, and treasury solutions to institutional and high-net-worth clients globally.

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ABOUT US
Exploring Global Markets with Precision and Purpose

Key Highlights of Group’s
Operations for FY 2024-25

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EBIT
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Profit after tax CAGR*
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OUR PRESENCE
Global Footprint. Regulated Reach.
Strategic Integration.

Platform Over Portfolio

From GIFT City to London and Mauritius, the Group is globally regulated. Our structures enable efficient access
to capital, differentiated products, and cross-border investor participation.

Our regulators:

  • Reserve Bank of India
  • Securities Exchange Board of India
  • GIFT City, India
  • Financial Conduct Authority, UK (FCA)
  • Financial Services Commission, Mauritius (FSC)
MESSAGE FROM CHAIRMAN
From Holding to Leading,
Reimagining the AFSL Identity
“We are building the financial infrastructure that India will need tomorrow — with the governance of a bank, the mindset of a fintech, and the soul of a fiduciary.”
Abhishek Bansal

Founder, Chairman and Managing Director

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MESSAGE FROM GROUP CEO
Beyond Results: The Power of Intentional Action
“Our mission is not to scale blindly, but to scale with wisdom—to be relevant, resilient, and trusted across cycles.”
Chintan Mehta

Whole-time Director and Chief Executive Officer

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MESSAGE FROM GROUP CFO
The Discipline to Build.
The Design to Endure. Where Growth Meets Governance.
“Real progress is not loud – it is the quiet perseverance of clarity, conviction, and the courage to stay on the course.”
Nirbhay Vassa

Whole-time Director and Chief Financial Officer

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OUR YEAR IN REVIEW
How FY 2024-25
became our Launchpad Year.
One Rebrand. Multiple Breakthroughs.
All Aligned with Our Long-term Roadmap.
Corporate Overview

From Holdings to High-trust

From Holding Company to High-Growth Financial Powerhouse

PERFORMANCE SNAPSHOTS AND FINANCIAL ANALYSIS
A Year of Transformative Growth

From Holding Company to High-Growth Financial Powerhouse
FY 2024–25 marked a pivotal year in the evolution of AFSL — one that redefined our operating model, financial profile, and strategic trajectory. From a legacy holding structure, AFSL has transformed into a high growth, fee-centric financial services platform with strong regulatory credentials, global connectivity, and high profitability.

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111%
Revenue
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323%
PAT
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28%
Net Worth

Net Revenue Reflects
True Growth

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54%*
Core Revenue
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96%*
Fee based revenue
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49%*
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Core revenue contribution
from fee and lending verticals
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EBIT contribution from
fee and lending verticals
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PAT- on core revenue

* CAGR - Three year period

OUR STRATEGIC DIRECTION
From Specialist to Scalable, Redefining
what a New-age Financial Institution can be

Strategic Levers that Drive Long-term Value Creation

Fee-based
Flywheel

We are decisively pivoting to fee-driven, capital-light models — where recurring revenues from asset management, advisory, and broking provide predictable, scalable growth. With over ₹100 Crores in EBITDA from fee income alone, our margins, visibility, and valuation outlook have shifted meaningfully.

  • 3.8x growth in fee-based income
    over 2 years

Platform Thinking: Distribution, Infrastructure, and Access

What sets AFSL apart is the platforms we build our products on. Our regulated presence across India, UK, GIFT City, and Mauritius allows us to deliver cross-border products with clarity, compliance, and credibility.

  • Mauritius VCC with multi-asset strategies (debt, equity, commodities)

Capital Efficiency with Growth Orientation

Our treasury business has transitioned from nascent to strategic — now positioned as growth capital for M&A, new product seeding, and capital structure optimisation. Lending remains disciplined, with clean books and stable Net Interest Margins, complementing the risk-averse nature of our overall asset model.

  • Debt to equity ratio down from
    0.92 to 0.72

Innovation and Integration: Our Operating Model Advantage

Rather than build isolated silos, we integrate strengths across the Group:

  • Fund research feeds structured credit decisions

Global Expansion with Indian Soul

Our journey ahead involves institutionalising what we have built and exporting our performance culture to global markets. Registration of our Global Arbitrage Fund with the U.S. SEC is a strategic milestone — unlocking visibility among accredited investors and global asset allocators.

SCOPE OF OPERATIONS
Our Offerings at a Glance

A differentiated platform across asset classes, investor needs, and
jurisdictions — built for scale, compliance, and performance.

Offering USP/Differentiation FY 2024-25 Snapshot
Global Arbitrage Fund (GAF)

8.2% USD CAGR, monthly liquidity, low leverage, global strategy

$ 100 Million+ AUM – 80% offshore clients

PMS

Equity-focused, high-alpha strategies, SEBI-registered

₹125 Crores+ AUM – 22%+ YoY growth

AIF (GIFT City)

Tax-efficient access, regulated by IFSCA

Newly operational

Mauritius VCC

Multi-asset global structure with equity, debt, and commodity funds

Abans Hedge Fund – Risk-adjusted global strategies

Debt Fund – Yield-focused, structured portfolios

Offering USP/Differentiation FY 2024-25 Snapshot
Investment Banking & Structuring

Private placements, fund raising, bespoke structuring

Launched FY 2024-25

Offering USP/Differentiation FY 2024-25 Snapshot
Secured Term Loans

Zero NPA,

CRAR 24%,

Risk-calibrated underwriting

₹ 265 Crores book

0% Gross Non-Performing Assets

Trade Finance

Physical + derivatives-backed structures

Growing pipeline

Offering USP/Differentiation FY 2024-25 Snapshot
CASL (UK)

Transitioning into transaction banking – FX, payments

$ 40 Million plus transactions

Offering USP/Differentiation FY 2024-25 Snapshot
Treasury/Arbitrage Book

Cross-market strategies across commodities, derivatives

₹ 3,000 Crores+ in treasury revenue in FY 2024-25

Governance
CSR INITIATIVES
Giving Back to Society
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RISK MANAGEMENT
Building Resilience. Protecting Stakeholder Value.
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OUR PEOPLE
People Who Power Possibility
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GOVERNANCE
Governance with Intent Leadership with Integrity
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BOD – LEADERSHIP TEAM
Leadership that Builds Beyond Cycles
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AWARDS AND RECOGNITIONS
Recognitions that Reflect our Values
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Corporate Information
ABANS FINANCIAL SERVICES LIMITED (FORMERLY KNOWN AS ABANS HOLDINGS LIMITED)
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