Abans Holdings IPO: Should you apply?

About: Abans Holdings is a non-operating holding company for the Abans groups' financial services companies. It primarily has three revenue sources: Finance business (2.7 per cent of revenue) - lending services to private traders and SMEs. Capital business (92.3 per cent of revenue) - internal treasury operation, i.e., invest the excess capital funds of Abans Group in various assets. Agency business (5 per cent of revenue)- It provides institutional trading, wealth management and asset management services to corporates, HNIs and retailers. Strengths: Its integrated financial services platform allows clients to invest in a variety of asset classes. It also has tie-ups with various exchanges, such as BSE, NSE, MESI, etc. Weaknesses: High intercompany transactions: In FY22, 11 per cent of its revenue came from trans