Akme Fintrade IPO: Date, Review, Price, Allotment Details

The initial public offering (IPO) for Aasaan Loans, operated by Akme Fintrade IPO, will commence on June 19, 2024, and close on June 21, 2024. Through this IPO, Akme Fintrade aims to raise approximately ₹132 crores, comprising a fresh issue of ₹132 crores and an offer for sale of equity shares priced at ₹10 each. The allocation includes a 35% quota for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs).

Company Background:

Akme Fintrade, also known as Aasaan Loans, is a non-banking financial company (NBFC) founded in 1996. It is registered with the Reserve Bank of India as a non-systemically important, non-deposit-taking company. With over two decades of experience, the company specializes in lending solutions for rural and semi-urban areas of India, addressing the financial needs and aspirations of these communities.

Services and Market Presence:

Aasaan Loans offers a range of products including vehicle finance and business finance, tailored for small business owners. The company has a strong presence in high-growth rural and semi-urban markets, consistently demonstrating financial performance and operational efficiency through high customer acquisition and retention rates. It has expanded cost-effectively into underserved regions.

Operational Footprint:

Akme Fintrade operates in the rural and semi-urban areas of four Indian states: Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. Its registered office is in Udaipur, Rajasthan, with a corporate office in Mumbai, Maharashtra. The company has 12 branches and over 25 points of presence, including both digital and physical branches, serving over 200,000 customers to date.

Digital Lending Platform:

The company’s digital lending platform, www.aasaanloans.com, is set to launch soon. Currently in the User Acceptance Testing (UAT) phase with a select group of users, the platform initially focuses on two-wheeler financing. Future phases will introduce loans against property, commercial vehicle financing, and secured business loans.

Akme Fintrade IPO Objectives

Repayment or prepayment, in full or in part, of certain borrowings availed by the Company.

Infusion of funds in certain subsidiaries, namely Signatureglobal Homes, Signature Infrabuild, Signatureglobal Developers, and Sternal Buildcon, for repayment or prepayment, in full or in part, of certain borrowings availed by the subsidiaries.

Inorganic growth through land acquisitions and general corporate purposes.

Akme Fintrade IPO Review (Apply or Not)

Avoid

Akme Fintrade IPO Date & Price Band Details

IPO Open:	June 19, 2024
IPO Close:	June 21, 2024
IPO Size:	Approx ₹132 Crores
Fresh Issue:	Approx ₹132 Crores
Face Value:	₹10 Per Equity Share
IPO Price Band:	₹114 to ₹120 Per Share
IPO Listing on:	BSE & NSE
Retail Quota:	35%
QIB Quota:	50%
NII Quota:	15%
Discount:	N/A

Akme Fintrade IPO Lot Size

The Akme Fintrade IPO has a minimum market lot of 125 shares, requiring an application amount of ₹15,000. Retail investors can apply for up to 13 lots, which is equivalent to 1,625 shares or a total of ₹195,000.

Application	Lot Size	Shares	Amount
Retail Minimum	1	125	₹ 15,000
Retail Maximum	13	1,625	₹ 1,95,000
S-HNI Minimum	14	1,750	₹ 2,10,000
B-HNI Minimum	68	8,375	₹ 10,05,000

Akme Fintrade IPO Timeline

The Akme Fintrade IPO is set to open on June 19 and close on June 21. The allotment of IPO shares will be finalized on June 24, with the IPO expected to be listed on June 26.

IPO Open Date:	June 19, 2024
IPO Close Date:	June 21, 2024
Basis of Allotment:	June 24, 2024
Refunds:	June 25, 2024
Credit to Demat Account:	June 25, 2024
IPO Listing Date:	June 26, 2024

Peer Group

N/A

Company Promoters

Akme Fintrade IPO Registrar

Akme Fintrade IPO Allotment Status Check

Check Akme Fintrade IPO allotment status on Bigshare website allotment URL.

Akme Fintrade IPO Lead Managers aka Merchant Bankers

Gretex Corporate Services Limited

Company Address

Akme Fintrade IPO FAQs

What is the IPO date for Akme Fintrade?

The Akme Fintrade IPO is scheduled to open on June 19, 2024, and close on June 21, 2024.

What is the price band for Akme Fintrade IPO?

The price band for Akme Fintrade IPO is ₹X to ₹Y per share.

What is the minimum lot size for Akme Fintrade IPO?

The minimum market lot size for Akme Fintrade IPO is 125 shares.

What is the minimum application amount for retail investors?

The minimum application amount for retail investors is ₹15,000.

What is the maximum number of lots retail investors can apply for?

Retail investors can apply for up to 13 lots, which equals 1,625 shares or ₹195,000 in application amount.

How is the IPO allotment done?

The allotment of shares in the IPO will be finalized on June 24, 2024.

When will Akme Fintrade IPO be listed on the stock exchange?

Akme Fintrade IPO is expected to be listed on June 26, 2024.

What are the investor categories and their allocation in the IPO?

The IPO allocation is divided as follows: Retail Investors – 35%, Qualified Institutional Buyers (QIBs) – 50%, and High Net-worth Individuals (HNIs) – 15%.

Where can I find more information about Akme Fintrade IPO?

Detailed information about Akme Fintrade IPO, including the prospectus, price band, financials, and application process, can be found on the official website of the stock exchanges and the company’s designated registrar for the IPO.

What are the key details about Akme Fintrade as a company?

Akme Fintrade, also known as Aasaan Loans, is a non-banking finance company (NBFC) established in 1996, specializing in lending solutions for rural and semi-urban areas in India. It operates primarily in Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat, with a focus on vehicle finance and business finance products for small business owners.