Akiko Global Services Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 25, 2024 to June 27, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 73 to ₹ 77 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 30,01,600 shares (aggregating up to ₹ 23.11 Cr) |
| Fresh Issue | 30,01,600 shares (aggregating up to ₹ 23.11 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 77,68,000 |
| Shareholding post issue | 1,07,69,600 |
| Market Maker portion | ₹ 1,50,400 shares Nikunj Stock Broke |
About Akiko Global Services Limited IPO
Akiko Global Services Limited is a channel partner for major banks and Non-Banking Financial Companies (NBFCs) in India, with six years of expertise and experience, working majorly in the distribution and sales of financial products such as credit cards and loans. They are using a Customer Relationship Management (“CRM”) system in their day-to-day operations. All leads undergo injection and monitoring within their CRM, developed by the Company. Their CRM is designed with features to protect customer information from any threat. The Money Fair IPO is a book-built issue of Rs 23.11 crores. The issue is entirely a fresh issue of 30.02 lakh shares.
The Money Fair IPO opens for subscription on June 25, 2024, and closes on June 27, 2024. The allotment for the Money Fair IPO is expected to be finalized on Monday, July 1, 2024. The Money Fair IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares. Fast Track Finsec Pvt Ltd is the book-running lead manager of The Money Fair IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for The Money Fair IPO is Nikunj Stock Brokers.
Objectives of The Money Fair IPO
The company intends to utilize the proceeds of the Issue to meet the following objectives: -
- ● Implementation of ERP Solution and TeleCRM.
- ● Mobile Application for financial product solutions.
- ● To meet working capital requirements.
- ● Enhancing visibility and awareness of the brands, including but not limited to "Akiko Global" or "Moneyfair.
- ● General Corporate Purpose.
- ● Issue Expenses.
The Money Fair IPO Review
The company is a channel partner for NBFCs and Banks. It posted growth in its top and bottom lines for the reported periods, but the sudden boost in the pre-IPO year raised eyebrows. Based on FY24 annualized super earnings, the issue appears aggressively priced. Well-informed investors may park moderate funds for the long term.
Akiko Global Services Limited IPO Financial Information
Latest Revenue
2,609.76
₹ Crore
Profit After Tax
321.48
₹ Crore
Net Worth
1,403.37
₹ Crore
Total Borrowing
122.05
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Jan 2024 | 1,794.91 | 2,609.76 | 321.48 | 1,403.37 | 122.05 | ||||
| 31 Mar 2023 | 1,130.87 | 3,958.97 | 453.26 | 578.40 | 95.89 | ||||
| 31 Mar 2022 | 405.67 | 1,353.31 | 77.85 | 123.14 | 26.13 | ||||
| 31 Mar 2021 | 234.88 | 610.78 | 22.98 | 45.29 | 49.62 | ||||
| Amount in ₹ Crore | |||||||||
Akiko Global Services Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 32.44% |
| ROCE | 29.23% |
| Debt/Equity | 0.09 |
| RoNW | 22.91% |
| PAT Margin (%) | 12.41 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.83 | 3.58 |
| P/E (x) | 13.2 | 21.5 |
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Competitive Strengths
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Akiko Global Services Limited IPO Timeline
| IPO Open Date | Tuesday, June 25, 2024 |
| IPO Close Date | Thursday, June 27, 2024 |
| Basis of Allotment | Monday, July 1, 2024 |
| Initiation of Refunds | Monday, July 1, 2024 |
| Credit of Shares to Demat | Monday, July 1, 2024 |
| Listing Date | Tuesday, July 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 27, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| HNI (Min) | 2 | 3,200 | ₹246,400 |