Akme Fintrade India IPO

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 nameAkme Fintrade India Limited
IndustryFinance – NBFC
Company Websitehttps://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 date19 June 2024
IPO Closing21 June 2024
Basis of Allotment24 June 2024
Initiation Refund25 June 2024
Credit to Demat Account25 June 2024
Listing Date26 June 2024
(Cut-off time for UPI mandate confirmation – 5 PM on June 21, 2024)

Akme Fintrade India IPO details

Issue typeBook Built Issue IPO
IPO issue size₹132 Cr – 11,000,000 shares
Fresh Issue₹132 Cr – 11,000,000 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹114 to ₹120 per share
Lot size125 Shares
Listing ExchangeBSE & NSE

Akme Fintrade India IPO Lot Size

Retail (Min)1125₹15,000
Retail (Max)131625₹195,000
S-HNI (Min)141,750₹210,000
S-HNI (Max)668,250₹990,000
B-HNI (Min)678,375₹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 CategoryShares OfferedMaximum Allottees 
Anchor Investor Shares Offered3,135,000 (28.50%)NA
QIB Shares Offered2,090,000 (19.00%)NA
NII (HNI) Shares Offered1,567,500 (14.25%)
  bNII > ₹10L1,045,000 (9.50%)597
  sNII < ₹10L522,500 (4.75%)298
Retail Shares Offered3,657,500 (33.25%)29,260
Employee Shares Offered550,000 (5.00%)NA
Total Shares Offered11,000,000 (100%)

Akme Fintrade India Financial Performance

 FY 2021FY 2022FY 20239M FY 2024
Net income16.314.1215.8012.25
Margin (%)18.936.1122.7322.94
(Amount in ₹ Crores)

Akme Fintrade India Valuations & Margins

FY 2021FY 2022FY 2023
(Pre Issue)
FY 2024
PE Ratio22.87 – 24.0829.8 – 31.37
(* Calculated on the basis of annualized Profits After Tax for FY 2024)
FY 2021FY 2022FY 2023
RONW (%)13.573.099.25
ROE (%)7.723.0112.52
EBITDA (%)78.8064.1869.45

Company Promoters

  • Nirmal Kumar Jain
  • Manju Devi Jain
  • Dipesh Jain
  • Nirmal Kumar Jain HUF.

Promoter Holding

Pre Issue Share Holding56.01 %
Post Issue Share Holding

Akme Fintrade India Offer GMP Update

DateDay-wise IPO GMPKostakSubject to Sauda
25 June 2024252,100
24 June 2024333,000
22 June 2024463,500
21 June 2024463,500
20 June 2024423,400
19 June 2024343,000
18 June 2024322,800
17 June 202429

Akme Fintrade India IPO Subscription Update

CategorySubscription (times)
    bNII (bids above ₹10L)121.56
    sNII (bids below ₹10L)146.83
Total Application : 1,218,115 (41.63 times)

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 Date26 June 2024
BSE Scrip Code544200
Final Issue Price₹120 per share

Akme Fintrade India Listing Day Update

Listing ExchangeBSENSE
Final Issue Price₹120.00₹120.00
Last Trade₹131.95₹133.35

Akme Fintrade India Lead Manager(s)

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

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

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

Leave a Comment

Your email address will not be published. Required fields are marked *