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AKM Lace IPO is a fixed price issue of ₹4.76 crores. The issue is entirely a fresh issue of 0.19 crore shares of ₹4.76 crore.
AKM Lace IPO bidding started from Sep 20, 2017 and ended on Sep 22, 2017. The shares got listed on BSE SME on Sep 29, 2017.
AKM Lace IPO price is ₹25.00 per share . The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,50,000 (6000 shares). The minimum lot size investment for HNI is 2 lots (12,000 shares), amounting to ₹3,00,000.
Aryaman Financial Services Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is MSB E-Trade Securities Ltd..
Refer to AKM Lace IPO RHP for detailed Information.
| IPO Date | September 20, 2017 to September 22, 2017 |
| Listing Date | September 29, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹25 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 19,02,000 shares (aggregating up to ₹4.76 Cr) |
| Reserved for Market Maker | 1,02,000 shares MSB E-Trade Securities Ltd. (aggregating up to ₹0.2550 Cr) |
| Net Offered to Public | 18,00,000 shares (aggregating up to ₹4.50 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 11,10,175 shares |
| Share Holding Post Issue | 30,12,175 shares |
AKM Lace IPO offers total 19,02,000 shares. Out of which 9,00,000 (47.32%) allocated to NII, 9,00,000 (47.32%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,02,000 (5.36%) |
| NII (HNI) Shares Offered | 9,00,000 (47.32%) |
| Retail Shares Offered | 9,00,000 (47.32%) |
| Total Shares Offered | 19,02,000 (100.00%) |
AKM Lace IPO opens on September 20, 2017, and closes on September 22, 2017.
| IPO Open Date | Wed, Sep 20, 2017 |
| IPO Close Date | Fri, Sep 22, 2017 |
| Tentative Listing Date | Fri, Sep 29, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 22, 2017 |
Investors can bid for a minimum of 6,000 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 | 6,000 | ₹1,50,000 |
| Retail (Max) | 1 | 6,000 | ₹1,50,000 |
| HNI (Min) | 2 | 12,000 | ₹3,00,000 |
Incorporated in 2009, AKM Lace & Embrotex Ltd (AKM) is engaged in the business of manufacturing and trading of all types of embrotex goods, laces, fabrics, clothing, wearing apparel for personal, commericial and industrial use.
AKM’s sale model is divided into two parts, i.e. sale of traded goods which comprises of cotton fabrics, grey cloth, etc and sale of manufactured/processed goods, which comprises of knitted fabrics primarily lace based. For the year ended March 31, 2017 they traded and manufactured goods constituted 73.08% and 26.92% respectively of the total revenue from operations. Company’s products are mostly used in the manufacture of apparels such as sarees, shirtings, suitings, and upholstery such as curtains among others. Company purchases the traded goods from the local suppliers and manufacturers and sells the same to small scale traders.
The Company AKM Lace IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Working Capital Requirement | 3.93 |
| 2 | General Corporate Purposes | 0.41 |
[Dilip Davda] Considering aggressive pricing of AKM Lace & Embro BSE SME IPO, there is no harm in giving this issue a miss. Read detail review...
| Listing Date | September 29, 2017 |
| BSE Script Code | 540718 |
| NSE Symbol | |
| ISIN | INE777X01017 |
| Final Issue Price | ₹25 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹25.00 |
| Open | ₹25.50 |
| Low | ₹23.60 |
| High | ₹25.55 |
| Last Trade | ₹24.90 |
AKM Lace & Embrotex Ltd.
IX/6024 Ram Gali,
Subhash Mohalla,
Gandhi Nagar
Delhi, New Delhi, 110031
Phone: +91 - 11 - 4985 6126
Email: akmlace@gmail.com
Website: http://www.akmlace.com
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: virenr@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
AKM Lace IPO is a SME IPO of 19,02,000 equity shares of the face value of ₹10 aggregating up to ₹4.76 Crores. The issue is priced at ₹25 per share. The minimum order quantity is 6000.
The IPO opens on September 20, 2017, and closes on September 22, 2017.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in AKM Lace IPO using UPI as a payment gateway. Zerodha customers can apply in AKM Lace IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in AKM Lace IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The AKM Lace IPO opens on September 20, 2017 and closes on September 22, 2017.
AKM Lace IPO lot size is 6000, and the minimum amount required for application is ₹1,50,000.
You can apply in AKM Lace 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 AKM Lace IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the AKM Lace IPO allotment status.
The AKM Lace IPO listing date is on Friday, September 29, 2017.
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