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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 ₹120.00 per share . The lot size for an application is 125. The minimum amount of investment required by an retail is ₹14,250 (125 shares). 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 Date | June 19, 2024 to June 21, 2024 |
| Listing Date | June 26, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹114 to ₹120 per share |
| Issue Price Final | ₹120 per share |
| Lot Size | 125 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,10,00,000 shares (aggregating up to ₹132.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 37,45,19,945 shares |
| Share Holding Post Issue | 38,74,23,171 shares |
Aasaan Loans 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, 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 | Maximum 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%) |
| 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 |
Akme Fintrade IPO raises ₹37.62 crore from anchor investors. Akme Fintrade IPO Anchor bid date is June 18, 2024. Akme Fintrade IPO Anchor Investors list
| Bid Date | June 18, 2024 |
| Shares Offered | 31,35,000 |
| Anchor Portion Size (In Cr.) | 37.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 22, 2024 |
Akme Fintrade IPO opens on June 19, 2024, and closes on June 21, 2024.
| IPO Open Date | Wed, Jun 19, 2024 |
| IPO Close Date | Fri, Jun 21, 2024 |
| Tentative Allotment | Mon, Jun 24, 2024 |
| Initiation of Refunds | Tue, Jun 25, 2024 |
| Credit of Shares to Demat | Tue, Jun 25, 2024 |
| Tentative Listing Date | Wed, Jun 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 21, 2024 |
Investors can bid for a minimum of 125 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Akme Fintrade India Ltd's revenue increased by 3.06% and profit after tax (PAT) rose by 283.5% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 | ||||
| KPI | Values |
|---|---|
| ROE | 5.64% |
| Debt/Equity | 2.49 |
| RoNW | 5.81% |
| PAT Margin | 22.93% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.87 |
The company proposes to utilize the Net Proceeds from the Issue towards augmenting the capital base of the company to fulfil its future capital requirements, which are anticipated to arise as a result of the expansion of the business and assets. Further, a portion of the proceeds from the Issue will be used towards meeting Issue-related expenses.
[Dilip Davda] The company is operating in financial services segment which is highly competitive and fragmented one. It also has ever changing regulatory norms. Based on FY24 annualized earnings, the issue is aggressively priced. There is no harm in skipping this pricey offer. Read detail review...
| Listing Date | June 26, 2024 |
| BSE Script Code | 544200 |
| NSE Symbol | AFIL |
| ISIN | INE916Y01019 |
| Final Issue Price | ₹120 per share |
| BSE Listing Group | T |
Akme Fintrade (India) Ltd.
AKME Business Centre (ABC),
4-5 Subcity Centre, Savina Circle opp
Krishi Upaz Mandi
Udaipur, Rajasthan, 313002
Phone: +91- 294-2489501
Email: cs@aasaanloans.com
Website: https://aasaanloans.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Akme Fintrade IPO is a main-board IPO of 1,10,00,000 equity shares of the face value of ₹10 aggregating up to ₹132.00 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 125.
The IPO opens on June 19, 2024, and closes on June 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 June 19, 2024 and closes on June 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 Tuesday, June 25, 2024. Check the Akme Fintrade IPO allotment status.
The Akme Fintrade IPO listing date is on Wednesday, June 26, 2024.
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