Akme Fintrade India IPO will open for subscription from 19 June 2024. The company aims for an issue size of ₹132 Cr through this IPO.
Company Overview
| Full name | Akme Fintrade India Limited |
| Sector | Finance |
| Industry | Finance – NBFC |
| Company Website | https://aasaanloans.com/ |
About Company
Akme Fintrade is a non-banking finance company registered with the Reserve Bank of India as Non systemically important non-deposit-taking company having more than two decades of experience in lending business in the rural and semi-urban geographies in India. Its portfolio includes Vehicle Finance and Business Finance Products for small business owners. The company currently extends its reach across rural and semi-urban areas in four Indian states: Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. Its registered office is in Udaipur, Rajasthan, with a corporate office situated in Mumbai. With 12 branches and over 25 points of presence, both digital and physical, the company has successfully served more than 200,000 customers.
As of 31 December 2023, its total credit exposure is INR 379.46 crore out of which INR 300.67 crore is of SME/ business loan which is 79.23% of total credit exposure. As of 31 December 2023, the company has approximately 32,771 outstanding loans under Vehicle Finance and Secured Business Loans/MSMEs. These loans support small enterprises and self-employed non-professionals, aiding their stores, retail outlets, handicraft manufacturing, and various other businesses.
The Objectives of the Issue
- 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.
Akme Fintrade India IPO Timetable
| IPO Opening date | 19 June 2024 |
| IPO Closing | 21 June 2024 |
| Basis of Allotment | 24 June 2024 |
| Initiation Refund | 25 June 2024 |
| Credit to Demat Account | 25 June 2024 |
| Listing Date | 26 June 2024 |
Akme Fintrade India IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹132 Cr – 11,000,000 shares |
| Fresh Issue | ₹132 Cr – 11,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹114 to ₹120 per share |
| Lot size | 125 Shares |
| Listing Exchange | BSE & NSE |
Akme Fintrade India 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 Offer Documents
Akme Fintrade India IPO Reservation Details
Aasaan Loans IPO offers 11,000,000 shares. 2,090,000 (19.00%) to QIB, 1,567,500 (14.25%) to NII, 3,657,500 (33.25%) to RII, 550,000 (5.00%) to employees and 3,135,000 (28.50%) to Anchor investors. 29,260 RIIs will receive minimum 125 shares and 298 (sNII) and 597 (bNII) will receive minimum 1,750 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 3,135,000 (28.50%) | NA |
| QIB Shares Offered | 2,090,000 (19.00%) | NA |
| NII (HNI) Shares Offered | 1,567,500 (14.25%) | |
| bNII > ₹10L | 1,045,000 (9.50%) | 597 |
| sNII < ₹10L | 522,500 (4.75%) | 298 |
| Retail Shares Offered | 3,657,500 (33.25%) | 29,260 |
| Employee Shares Offered | 550,000 (5.00%) | NA |
| Total Shares Offered | 11,000,000 (100%) |
Akme Fintrade India Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 86.17 | 67.44 | 69.51 | 53.41 |
| Expenses | 67.59 | 59.91 | 49.52 | 38.29 |
| Net income | 16.31 | 4.12 | 15.80 | 12.25 |
| Margin (%) | 18.93 | 6.11 | 22.73 | 22.94 |
Akme Fintrade India Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 5.15 | 1.30 | 4.98 | 3.83 |
| PE Ratio | – | – | 22.87 – 24.08 | 29.8 – 31.37 |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | 13.57 | 3.09 | 9.25 |
| NAV | 41.09 | 43.17 | 64.60 |
| ROE (%) | 7.72 | 3.01 | 12.52 |
| EBITDA (%) | 78.80 | 64.18 | 69.45 |
| Debt/Equity | 2.44 | 3.63 | 4.42 |
Company Promoters
- Nirmal Kumar Jain
- Manju Devi Jain
- Dipesh Jain
- Nirmal Kumar Jain HUF.
Promoter Holding
| Pre Issue Share Holding | 56.01 % |
| Post Issue Share Holding |
Akme Fintrade India Offer GMP Update
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 25 June 2024 | 25 | – | 2,100 |
| 24 June 2024 | 33 | – | 3,000 |
| 22 June 2024 | 46 | – | 3,500 |
| 21 June 2024 | 46 | – | 3,500 |
| 20 June 2024 | 42 | – | 3,400 |
| 19 June 2024 | 34 | – | 3,000 |
| 18 June 2024 | 32 | – | 2,800 |
| 17 June 2024 | 29 | – | – |
Akme Fintrade India IPO Subscription Update
| Category | Subscription (times) |
|---|---|
| QIB | 28.12 |
| NII | 129.98 |
| bNII (bids above ₹10L) | 121.56 |
| sNII (bids below ₹10L) | 146.83 |
| Retail | 44.58 |
| Employee | 5.42 |
| Total | 54.49 |
Akme Fintrade India IPO Allotment Status
Aasaan Loans IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Akme Fintrade India IPO Listing Details
| Listing Date | 26 June 2024 |
| BSE Scrip Code | 544200 |
| NSE Symbol | AFIL |
| ISIN | INE916Y01019 |
| Final Issue Price | ₹120 per share |
Akme Fintrade India Listing Day Update
| Listing Exchange | BSE | NSE |
| Final Issue Price | ₹120.00 | ₹120.00 |
| Open | ₹125.70 | ₹127.00 |
| Low | ₹125.70 | ₹127.00 |
| High | ₹131.95 | ₹133.35 |
| Last Trade | ₹131.95 | ₹133.35 |
Akme Fintrade India Lead Manager(s)
GRETEX CORPORATE SERVICES LIMITED
Office No. 13, 1st Floor, New Bansilal Building,
Raja Bahadur Mansion, 9-15, Homi Modi Street,
Fort, Mumbai– 400001, Maharashtra
Phone: +91-22-62280818
Email: info@gretexgroup.com
Website: www.gretexcorporate.com
Akme Fintrade India Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Akme Fintrade India Contact Details
AKME FINTRADE (INDIA) LIMITED
608, The Summit – Business Bay,
behind Guru Nank Petrol Pump, Opp. Cinemax,
Prakashwadi Andheri (East), Mumbai – 400069
Phone: +91- 294-2489501-02
Email: cs@aasaanloans.com
Website: www.aasaanloans.com
Akme Fintrade India IPO FAQs
How many shares in Akme Fintrade IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for an Akme Fintrade Public Offer?
The best way to apply for Akme Fintrade public offer is through Internet banking ASBA . You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Akme Fintrade IPO GMP today?
Akme Fintrade IPO GMP today is ₹ 23 per share.
What is Akme Fintrade kostak rate today?
Akme Fintrade kostak rate today is ₹ NA per application.
What is Akme Fintrade Subject to Sauda rate today?
Akme Fintrade Subject to Sauda rate today is ₹ 2,100 per application.
Final thoughts
Akme Fintrade India IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
