Fixed Price IPO | ₹5 Cr | Listed at BSE SME | Wed, Sep 20, 2017 - Fri, Sep 22, 2017
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Wed, Sep 20, 2017
IPO Close
Fri, Sep 22, 2017
Issue Price
₹25 per share
Market Cap (Pre-IPO)
₹7.53 Cr
| IPO Date | 20 to 22 Sep, 2017 |
| Listed on | Fri, Sep 29, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹25 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 19,02,000 shares (agg. up to ₹5 Cr) |
| Reserved for Market Maker | 1,02,000 shares MSB E-Trade Securities Ltd. (agg. up to ₹0.2550 Cr) |
| Fresh Issue (Ex Market Maker) | 18,00,000 shares (agg. up to ₹5 Cr) |
| Net Offered to Public | 18,00,000 shares (agg. up to ₹5 Cr) |
| Share Holding Pre Issue | 11,10,175 shares |
| Share Holding Post Issue | 30,12,175 shares |
| BSE Script Code | 540718 |
| ISIN | INE777X01017 |
AKM Lace IPO comprises a total issue size of 19,02,000 shares. The net offer to the public is 18,00,000 shares, after excluding 1,02,000 shares allotted on a firm basis. Of the Net offer 9,00,000 (50.00%) allocated to NII 9,00,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 9,00,000 | 50.00% | 47.32% |
| Retail Shares Offered | 9,00,000 | 50.00% | 47.32% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,02,000 | 5.36% | |
| Total Shares Offered | 19,02,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirement | 3.93 |
| 2 | General Corporate Purposes | 0.41 |
The AKM Lace IPO is subscribed [.] times on September 22, 2017 5:00:00 PM (Day 3). The public issue subscribed [.] times in the retail category, [.] times in the QIB category, and [.] times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including fees and reimbursements of selling commissions, Underwriting, brokerages, payment to other intermediaries such as Legal Advisors, Registrars, Bankers etc. and other out of pocket expenses | 0.28 |
| 2 | Printing and Stationery and postage expenses | 0.03 |
| 3 | Advertising and Marketing expenses | 0.03 |
| 4 | Regulatory fees and expenses | 0.07 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹25.00 |
| Open | ₹25.50 |
| Low | ₹23.60 |
| High | ₹25.55 |
| Last Trade | ₹24.90 |
Lead Manager Reports
AKM Lace IPO is a SME IPO of 19,02,000 equity shares of the face value of ₹10 aggregating up to ₹5 Crores. The issue is priced at ₹25 per share. The minimum order quantity is 6000.
The IPO opens on Wed, Sep 20, 2017, and closes on Fri, Sep 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 Wed, Sep 20, 2017 and closes on Fri, Sep 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 Fri, Sep 29, 2017.
