Bookbuilding IPO | ₹132 Cr | Listed at BSE, NSE | Wed, Jun 19, 2024 - Fri, Jun 21, 2024
Akme Fintrade IPO is a book build issue of ₹132.00 crores. The issue is entirely a fresh issue of 1.10 crore shares of ₹132.00 crore.
Akme Fintrade IPO bidding started from Jun 19, 2024 and ended on Jun 21, 2024. The allotment for Akme Fintrade IPO was finalized on Jun 24, 2024. The shares got listed on BSE, NSE on Jun 26, 2024.
Akme Fintrade IPO price band is set at ₹120 per share. The lot size for an application is 125. The minimum amount of investment required by an retail is ₹15,000 (125 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,750 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (8,375 shares), amounting to ₹10,05,000.
The issue includes a reservation of up to 5,50,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Gretex Corporate Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Akme Fintrade IPO RHP for detailed Information.
IPO Open
Wed, Jun 19, 2024
IPO Close
Fri, Jun 21, 2024
Issue Price
₹120 per share
Market Cap (Pre-IPO)
To be declared
| IPO Date | 19 to 21 Jun, 2024 |
| Listed on | Wed, Jun 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹114 to ₹120 |
| Issue Price | ₹120 per share |
| Lot Size | 125 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,10,00,000 shares (agg. up to ₹132 Cr) |
| Fresh Issue | 1,10,00,000 shares (agg. up to ₹132 Cr) |
| Share Holding Pre Issue | 37,45,19,945 shares |
| Share Holding Post Issue | 38,74,23,171 shares |
| BSE Script Code / NSE Symbol | 544200 / AFIL |
| ISIN | INE916Y01019 |
Akme Fintrade IPO offers total 1,10,00,000 shares. Out of which 52,25,000 (47.50%) allocated to QIB, 20,90,000 (19.00%) allocated to QIB (Ex- Anchor), 15,67,500 (14.25%) allocated to NII 36,57,500 (33.25%) allocated to RII and 31,35,000 (28.50%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 52,25,000 (47.50%) | NA |
| − Anchor Investor Shares Offered | 31,35,000 (28.50%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 20,90,000 (19.00%) | NA |
| NII (HNI) Shares Offered | 15,67,500 (14.25%) | NA |
| − bNII > ₹10L | 10,45,000 (9.50%) | 597 |
| − sNII < ₹10L | 5,22,500 (4.75%) | 298 |
| Retail Shares Offered | 36,57,500 (33.25%) | 29,260 |
| Employee Shares Offered | 5,50,000 (5.00%) | NA |
| Total Shares Offered | 1,10,00,000 (100.00%) |
Investors can bid for a minimum of 125 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1,625 | ₹1,95,000 |
| S-HNI (Min) | 14 | 1,750 | ₹2,10,000 |
| S-HNI (Max) | 66 | 8,250 | ₹9,90,000 |
| B-HNI (Min) | 67 | 8,375 | ₹10,05,000 |
Akme Fintrade IPO raises ₹37.62 crore from anchor investors. Akme Fintrade IPO Anchor bid date is June 18, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jun 18, 2024 |
| Shares Offered | 31,35,000 |
| Anchor Portion (₹ Cr.) | 37.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jul 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Sep 22, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) with over 20 years of experience in lending to rural and semi-urban areas in India.
The company mainly provides lending solutions tailored to the needs and aspirations of rural and semi-urban populations. Its portfolio comprises Vehicle Finance and Business Finance Products for small business owners.
The company operates in rural and semi-urban areas across four Indian states - Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. It has a registered office in Udaipur, Rajasthan, and a Corporate Office in Mumbai, Maharashtra. With 12 branches and over 25 points of presence, including digital and physical branches, it has served over 200,000 customers.
The company finances the purchase of new two-wheelers and three-wheelers, such as scooters, motorcycles, and auto rickshaws, for salaried professionals and self-employed non-professionals.
The company has 125 permanent employees as of December 31, 2023, and prioritizes their overall welfare.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 417.96 | 390.50 | 374.01 | 455.40 |
| Total Income | 53.45 | 69.57 | 67.50 | 86.79 |
| Profit After Tax | 12.25 | 15.80 | 4.12 | 16.31 |
| NET Worth | 217.01 | 204.78 | 136.84 | 130.26 |
| Reserves and Surplus | 185.34 | 173.11 | 115.03 | 108.45 |
| Total Borrowing | 195.19 | 177.76 | 230.06 | 317.82 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting the capital base of our Company to fulfil its future capital requirement |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 5.64% |
| Debt/Equity | 2.49 |
| RoNW | 5.81% |
| PAT Margin | 22.93% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.87 | |
| Promoter Holding | 56.01% |
The Aasaan Loans IPO is subscribed 54.49 times on June 21, 2024 6:19:07 PM (Day 3). The public issue subscribed 44.58 times in the retail category, 28.12 times in the QIB category, and 129.98 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 28.12 | 20,90,000 | 5,87,62,125 |
| NII | 129.98 | 15,67,500 | 20,37,43,250 |
| bNII (bids above ₹10L) | 121.56 | 10,45,000 | 12,70,26,875 |
| sNII (bids below ₹10L) | 146.83 | 5,22,500 | 7,67,16,375 |
| Retail | 44.58 | 36,57,500 | 16,30,66,125 |
| Employee | 5.42 | 5,50,000 | 29,78,250 |
| Total | 54.49 | 78,65,000 | 42,85,49,750 |
Total Application : 12,18,115
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM fees and commissions (including underwriting commission) | 6.87 |
| 2 | Brokerage, selling commission, bidding charges, processing fees and bidding charges for the Members of the Syndicate, Registered Brokers, SCSBs, RTA and CDPs | 2.29 |
| 3 | Advertising and marketing expenses for the Issue | 0.18 |
| 4 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees | 0.27 |
| 5 | Other regulatory expenses | 2.77 |
| 6 | Printing and stationery expenses | 0.06 |
| 7 | Fees payable to the legal counsel | 1.10 |
| 8 | Miscellaneous | 0.52 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹120.00 | ₹120.00 |
| Open | ₹125.70 | ₹127.00 |
| Low | ₹125.70 | ₹127.00 |
| High | ₹131.95 | ₹133.35 |
| Last Trade | ₹131.95 | ₹133.35 |
Lead Manager Reports
Akme Fintrade IPO is a main-board IPO of 1,10,00,000 equity shares of the face value of ₹10 aggregating up to ₹132 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 125.
The IPO opens on Wed, Jun 19, 2024, and closes on Fri, Jun 21, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Akme Fintrade IPO using UPI as a payment gateway. Zerodha customers can apply in Akme Fintrade IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Akme Fintrade IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Akme Fintrade IPO opens on Wed, Jun 19, 2024 and closes on Fri, Jun 21, 2024.
Akme Fintrade IPO lot size is 125, and the minimum amount required for application is ₹15,000.
You can apply in Akme Fintrade IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Akme Fintrade IPO will be done on Monday, June 24, 2024, and the allotted shares will be credited to your demat account by Tue, Jun 25, 2024. Check the Akme Fintrade IPO allotment status.
The Akme Fintrade IPO listing date is on Wed, Jun 26, 2024.
