Akme Fintrade India Ltd IPO Subscribed 17.77x on Day 3

Akme Fintrade India Ltd IPO (Aasaan Loans IPO) bidding process closed on June 21, 2024. The allotment for the Aasaan Loans IPO is expected to be finalised on June 24, 2024. Aasaan Loans IPO will be listed on BSE and NSE with a tentative listing date of June 26, 2024.

Aasaan Loans IPO price band is set at ₹114 to ₹120 per share. The minimum lot size for an application is 125 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (1,750 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (8,375 shares), amounting to ₹10,05,000.

Day Wise Subscription

On the last day of subscription, i.e., June 21, 2024, the IPO was subscribed to 17.77x. QIBs subscribed 6.00x, NIIs 46.61x, and retail investors subscribed 14.67x.

Grey Market Premium

Aasaan Loans IPO last GMP is ₹30. With a price band of ₹120.00, the estimated listing price of the Aasaan Loans IPO is ₹150 (cap price + today’s GMP). The expected percentage gain/loss per share is 40.00%.

About Akme Fintrade India Ltd

Akme Fintrade India Ltd (AFIL) is a non-banking finance company (NBFC) incorporated in the year 1996 and registered with the Reserve Bank of India as a Non-systemically important non-deposit taking company with over two decades of lending experience in rural and semi-urban geographies in India.

In addition to maintaining a track record of financial performance and operational efficiency through consistently high rates of customer acquisition and retention and low-cost expansion into underserved areas, the company has a long history of serving rural and semi-urban markets with high growth potential.

It has launched the website aasaanloans.com as a first step. This unique methodology makes it easier to identify companies that have low risk and great potential, which opens doors for people who didn’t have access to short-term and long-term financing choices in the past.

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.