Akme Fintrade India Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 114 to ₹ 120 per share |
| Lot Size | 125 Shares |
| Total Issue Size | 1,10,00,000 shares (aggregating up to ₹ 132.00 Cr) |
| Fresh Issue | 1,10,00,000 shares (aggregating up to ₹ 132.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
About Akme Fintrade India Limited IPO
Akme Fintrade India Ltd aka Aasaan Loans is a non-banking finance company. Aasaan Loans portfolio includes Vehicle Finance and Business Finance Products for small business owners. They have a long history of serving rural and semi-urban markets with high growth potential and have maintained a track record of financial performance and operational efficiency through consistently high rates of customer acquisition and retention and low-cost expansion into underpenetrated areas. Aasaan Loans IPO is a book-built issue of Rs 132.00 crores.
The issue is entirely a fresh issue of 1.1 crore shares. Aasaan Loans IPO opens for subscription on June 19, 2024 and closes on June 21, 2024. The allotment for the Aasaan Loans IPO is expected to be finalized on Monday, June 24, 2024. Aasaan Loans IPO price band is set at ₹114 to ₹120 per share. The minimum lot size for an application is 125 Shares. Gretex Corporate Services Limited is the book-running lead manager of the Aasaan Loans IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Objectives of Aasaan Loans IPO
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.
Aasaan Loans IPO Review
The company is operating in the financial services segment which is a 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 price offer.
FAQs for Aasaan Loans IPO
Akme Fintrade India Limited IPO Financial Information
Latest Revenue
53.45
₹ Crore
Profit After Tax
12.25
₹ Crore
Net Worth
217.01
₹ Crore
Total Borrowing
195.19
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 417.96 | 53.45 | 12.25 | 217.01 | 195.19 | ||||
| 31 Mar 2023 | 390.50 | 69.57 | 15.80 | 204.78 | 177.76 | ||||
| 31 Mar 2022 | 374.01 | 67.50 | 4.12 | 136.84 | 230.06 | ||||
| 31 Mar 2021 | 455.40 | 86.79 | 16.31 | 130.26 | 317.82 | ||||
| Amount in ₹ Crore | |||||||||
Akme Fintrade India Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 5.64% |
| Debt/Equity | 2.49 |
| RoNW | 5.81% |
| PAT Margin (%) | 22.93 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.87 | - |
| P/E (x) | - | - |
Frequently Asked Questions
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Competitive Strengths
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Akme Fintrade India Limited IPO Timeline
| IPO Open Date | Wednesday, June 19, 2024 |
| IPO Close Date | Friday, June 21, 2024 |
| Basis of Allotment | Monday, June 24, 2024 |
| Initiation of Refunds | Tuesday, June 25, 2024 |
| Credit of Shares to Demat | Tuesday, June 25, 2024 |
| Listing Date | Wednesday, June 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1625 | ₹195,000 |
| S-HNI (Min) | 14 | 1,750 | ₹210,000 |
| S-HNI (Max) | 66 | 8,250 | ₹990,000 |
| B-HNI (Min) | 67 | 8,375 | ₹1,005,000 |