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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.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Akme Fintrade India Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
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 | 11,000,000 shares (aggregating up to ₹132.00 Cr) |
| Fresh Issue | 11,000,000 shares (aggregating up to ₹132.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Akme Fintrade India Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 |
Akme Fintrade India Limited IPO Lot Size
| Application | Lots | Shares | 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 |
Akme Fintrade India Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 56.01% |
| Share Holding Post Issue | - |
Competitive Strength:
- -
Akme Fintrade India Limited IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | 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 | ||||||||||||||||||||||||||||||||||||||||
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) |
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
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Frequently Asked Questions (FAQs)
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What is Akme Fintrade IPO?
Akme Fintrade IPO is a main-board IPO. They are going to raise ₹132 Crores via IPO. The issue is priced at ₹114 to ₹120 per equity share. The IPO is to be listed on BSE & NSE.
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When Akme Fintrade IPO will open?
The IPO is to open on June 19, 2024, for QIB, NII, and Retail Investors.
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What is Akme Fintrade IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Akme Fintrade's IPO Size?
Akme Fintrade's IPO size is ₹132 crores.
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What is Akme Fintrade IPO Price Band?
Akme Fintrade IPO Price Band is ₹114 to ₹120.
