Akme Fin Trade India Limited IPO To Debut on June 19

AKME Fintrade is a Non-Banking Fianance Company, registered under RBI in 1996. The company provides loan facilities such as Two Wheeler Loans, Four Wheeler Loans, Business Loans, Mortgage Loans etc, in semi-urban and rural areas. Headquartered at Udaipur, Rajasthan, thec company currently operates in Rajasthan, Gujarat, Madhya Pradesh, and Maharashtra with 12 branches and 25+ presence points. 

About the Issue:

AKME Fintrade IPO or Aasaan Loans IPO is fixed to hit the market on 19 June, 2024, with a total issue size of Rs. 132 Cr and price band of Rs.114-120 per share. The Book Built Issue IPO contains fresh issue of 1.1 crore shares worth Rs. 132 Cr and Offer for Sale upto NIL. The subscription period will run until 21 June, 2024 and the final allotment of shares is expected to be finalized by 24 June, 2024. The quotations include 35% for retail investors, 50% Qualified Institutional Buyers (QIBs) and 15% High Net-worth Individuals. The company plans to list its shares on both the BSE and the NSE, with a tentative listing date set for June 26, 2024.

Objectives of this issue:

The company’s main objective from this issue is to augment its capital base to fulfil their future capital requirements for expansion of the business and its assets. Further, a portion of the proceeds from the issue will used towards meeting issue-related expenses and temporary investment of the remaining money as deposists in one or more scheduled commercial  bank accounts prescribed under Second Schedule of the RBI.

Financial Performance: 

Conclusion

The AKME Fintrade Limited IPO, valued at Rs.132 crores will assist the company to further expand its business and meet its working capital needs and to invest in assets.The subscription runs from June 19 to June 21, 2024, with allotment on June 24 and listing on June 26, 2024.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions