 "IPO")
Aasaan Loans IPO: Aasaan Loans IPO is a book-built issue amounting to Rs 132 crore, consisting entirely of a fresh issue of 1.1 crore shares.
The subscription for Akme Fintrade IPO opens on June 19, 2024, and closes on June 21, 2024. The price band for the IPO is set at Rs 114 to Rs 120 per share.
Established in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) with over two decades of expertise in lending to rural and semi-urban areas across India. The company specialises in providing tailored lending solutions to meet the needs of rural and semi-urban populations. Its portfolio includes Vehicle Finance and Business Finance Products aimed at small business owners.
Operating across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat, Akme Fintrade India Ltd is headquartered in Udaipur, Rajasthan, with a Corporate Office in Mumbai, Maharashtra. It boasts a network of 12 branches and more than 25 points of presence, encompassing both digital and physical branches, and has catered to over 200,000 customers.
Akme Fintrade primarily finances the purchase of new two-wheelers and three-wheelers, such as scooters, motorcycles, and auto rickshaws, for salaried professionals and self-employed non-professionals.
Here is all you need to know about the Aasaan Loans IPO:
Lot Size
Lot Size
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Retail investors are required to invest a minimum of Rs 15,000. Super Non-Institutional Investors (sNII) must apply for 14 lots (1,750 shares), totaling Rs 210,000. Big Non-Institutional Investors (bNII) need to apply for 67 lots (8,375 shares), amounting to Rs 1,005,000.
Allotment and Listing Details
The allotment for the Akme Fintrade IPO is scheduled to be finalised on Monday, June 24, 2024. The IPO will list on both BSE and NSE, with the tentative listing date set for Wednesday, June 26, 2024.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for Aasaan Loans is Rs 40, indicating potential listing gains of 33 per cent on the exchanges.
Lead Managers
Gretex Corporate Services Limited is the book running lead manager for the Aasaan Loans IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue.
Objective
Akme Fintrade India Ltd intends to utilise the net proceeds from the issue to bolster its capital base, meeting anticipated future capital requirements arising from business and asset expansion. Additionally, a portion of the proceeds will cover issue-related expenses.
Financial Performance
Akme Fintrade India Ltd reported a 3.06 per cent increase in revenue and a substantial 283.5 per cent rise in profit after tax (PAT) from the financial year ending March 31, 2022, to March 31, 2023.
