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Akme Fintrade (India) Ltd

Finance

Offer Period :

19th to 21st Jun 2024

Established in 1996, AKME Fintrade is an RBI-registered NBFC providing vehicle and business finance in rural and semi-urban areas across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. With 7 branches and 20+ presence points, Read more...it has served 2,00,000 customers, managing an AUM of Rs. 32,398.52 lakhs as of September 30, 2022, with a net worth of Rs. 15,145.7 lakhs. The company recorded GNPA and NNPA of 4.87% and 3.84%, respectively.Read less

Akme Fintrade (India) Ltd IPO Details

IPO Date 19th to 21st Jun 2024 Minimum Investment ₹15000 / 1 Lots
Listing Date 2024-06-26 Maximum Investment ₹195000 / 13 Lots
Face Value ₹10 per share Total Issue Size ₹132 Crores
Price ₹120 to ₹120 per share Fresh Issue ₹132 Crores
Lot Size 1 Lots (125 Shares) Offer For Sale ₹ 0
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹0 per share    
IPO Date 19th to 21st Jun 2024
Listing Date 2024-06-26
Face Value ₹10 per share
Price ₹120 to ₹120 per share
Lot Size 1 Lots (125 Shares)
Listing At BSE, NSE
Employee Discount ₹0 per share
Minimum Investment ₹15000 / 1 Lots
Maximum Investment ₹195000 / 13 Lots
Total Issue Size ₹132 Crores
Fresh Issue ₹132 Crores
Offer For Sale
Retail Discount ₹ 0

Timeline

Important dates for allocation and IPO listing.

19th Jun

IPO Starts

21st Jun

IPO Ends

24th Jun

Allotment Date

25th Jun

Initiation of Refund

25th Jun

Credit of Shares to Demat Account

26th Jun

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 45.92 0
Public Group 54.08 0

Akme Fintrade (India) Ltd IPO Reservation

QIB Shares Offered 2090000(19%)
NII (HNI) Shares Offered 1567500(14.25%)
Retail Shares Offered 3657500(33.25%)
Anchor Investor Shares Offered 3135000(28.5%)
Total Shares Offered 11000000
Total Shares With Anchor Investor 11000000

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

Akme Fintrade (India) Ltd IPO Registrar

Bigshare Services Pvt Ltd
Phone Number +91 22 6263 8200
Email Id ipo@bigshareonline.com
Our Website www.bigshareonline.com

Akme Fintrade (India) Ltd IPO Lead Manager

1. Gretex Corporate Services Ltd

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Akme Fintrade (India) Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 20,90,000 5,87,62,125 12,18,115.0
Non Institutional Investors (NIIs) 15,67,500 20,37,54,375 12,18,115.0
Non Institutional Investors (Bid amount of more than Ten Lakh Rupees) 10,45,000 12,70,26,875 12,18,115.0
Non Institutional Investors (Bid amount of more than Two Lakh and upto Ten Lakh Rupees) 5,22,500 7,67,27,500 12,18,115.0
Retail Individual Investors (RIIs) 36,57,500 16,31,43,375 12,18,115.0
Employee Reserved 5,50,000 29,79,125 12,18,115.0
Total 78,65,000 42,86,39,000 12,18,115.0

Strength of Akme Fintrade (India) Ltd

1. Proven execution capabilities with a strong rural focus.

2. Well established Vehicle Finance, small businesses lending business.

3. Stable and experienced management team.

4. Customer centric approach and deep understanding of target customers.

5. Access to Diversified Sources of Capital and Effective Asset Liability Management.

6. Robust underwriting process and risk management policies.

7. Hub and Spoke business model that improves efficiencies and decreases costs.

Risks Involved

1. The company has experienced a decline in revenue in Fiscal Year 2022 and may consider to experience such decline in the future.

2. The Company has higher levels of NPAs as compared to some of its peer companies and hence the company's business may be adversely affected if the company is unable to provide for such higher levels of NPAs.

3. The Company did not comply with certain RBI norms/guidelines in the past. Non-compliance with the RBI's norms/guidelines and violations of regulations prescribed by the RBI, could expose it to certain penalties and restrictions.

4. The Company has changed its shareholding by more than 26% during FY 2021-22 and FY2022-23 and has changed its management during the FY 2021-22 without taking the prior approval from RBI. The company cannot assure you that such or other instances of violations may not occur in future and the Company, Promoters and Directors may not be subjected to the disciplinary penal action or fine and penalties by the Reserve Bank of India, and if such actions are initiated or penalty and fine imposed, the same may adversely affect the results of its operations, revenues and profitability and adversely impact the company reputation in the market.

5. The company has in the past, made certain issuances and allotments of its equity shares which may not be in compliance with the applicable provisions and rules of the Companies Act, 1956. the company cannot guarantee that its will not be subject to any other complaints and penalties in the future regarding the said violations.

6. Its business and operational presence is concentrated in the State of Rajasthan and the company result of operations may be adversely affected by difficulties in expanding its business or pursuing new business opportunities in new regions and markets.

7. A survey was carried out on November 23, 2022 by the Income-tax authorities at premises of the Company at 4-5 Subcity Centre, Savina, Krishi Mandi, Udaipur, and Search was carried out at its Promoters namely Nirmal Kumar Jain and Dipesh Jain and its Promoter Group member namely Jenisha Jain under Section 132 of the I.T. Act at 18, Tagore Nagar, Sector-4, Udaipur.

8. Some of its secretarial records are not traceable.

9. Its credit ratings are presently low and any future downward revision in the company credit ratings could adversely affect its ability to service the company debts as well as raise funds in the future hence affecting its results of operations and financial conditions.

10. The Company is party to a legal proceeding being Civil Suit No. 516 of 2021 filed by Messrs Timeglass Construction and Sandeep Barjatya, (purportedly Partner of M/s Timeglass Construction) inter-alia alleging that a mortgage against a loan has been illegally obtained by the Company. Any adverse outcome of such proceeding may adversely affect its reputation, business, operations, financial condition and results of operations.

Why should you invest in

-

Financials

Particulars For the financial year ending (in ₹ million)
 
Total Assets
Total Liabilities
Total Expenses
Total Revenue 
Profit After Tax
EBITDA
Adjusted EBITDA

Akme Fintrade (India) Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2024-06-26 544200 AFIL
INE916Y01019
₹120 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹120 ₹120
Open ₹125.7 ₹127
Low ₹125.7 ₹127
High ₹131.95 ₹133.35
Low ₹125.7 ₹127

Frequently Asked Questions

What is Akme Fintrade (India) Ltd IPO?

Answer Field

Akme Fintrade (India) Ltd IPO is a Mainboard IPO of 1,10,00,000 equity shares of a face value of ₹10 aggregating up to ₹132 Crores. The issue is priced at ₹120 to ₹120 per share. The minimum order quantity is 125 Shares. The IPO opens on June 19, 2024, and closes on June 21, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Akme Fintrade (India) Ltd IPO will open?

Answer Field

The Akme Fintrade (India) Ltd IPO opens on June 19, 2024 and closes on June 21, 2024.

What is the lot size of Akme Fintrade (India) Ltd?

Answer Field

Akme Fintrade (India) Ltd lot size is 125 shares, and the minimum amount required is ₹15,000.

How to apply for Akme Fintrade (India) Ltd IPO?

Answer Field

You can apply in Akme Fintrade (India) Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Akme Fintrade (India) Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Akme Fintrade (India) Ltd IPO will be done on June 24, 2024, and the allotted shares will be credited to your demat account by June 25, 2024.

When is Akme Fintrade (India) Ltd IPO listing date?

Answer Field

The Akme Fintrade (India) Ltd listing date is June 26, 2024.

Who is the registrar of Akme Fintrade (India) Ltd IPO?

Answer Field

The registrar of Akme Fintrade (India) Ltd IPO is Bigshare Services Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Gretex Corporate Services Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Akme Fintrade (India) Ltd IPO?

Answer Field

The fresh issue size is ₹132 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Akme Fintrade (India) Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 125 shares and ₹15,000 amount.

How can I approve the UPI mandate request for Akme Fintrade (India) Ltd IPO?

Answer Field

To apply for Akme Fintrade (India) Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Akme Fintrade (India) Ltd?

Answer Field

The price of each Akme Fintrade (India) Ltd share will be ranging in between ₹120 to ₹120 per share.

What is the cut-off time for the UPI mandate for Akme Fintrade (India) Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, June 21, 2024.

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