Akme Fintrade India Limited (Aasaan Loans IPO): Things to Consider

Akme Fintrade India Limited (Aasaan Loans IPO) is open for subscription starting Wednesday, June 19, 2024, and closing on Wednesday, June 21, 2024. The price is decided at Rs 114 to Rs 120 per share. The minimum lot size for the retail category is 125 shares. The minimum lot size for small NII is 14 lots consisting of 1,750 shares. Meanwhile, the minimum lot for big non-institutional investors is 67 lots with 8,375 shares. The minimum investment required for retail category investors is Rs 15,000 ( 120 x 125 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,10,000 (120 x 1,750 shares); for big non-institutional investors, it is Rs 10,05,000 (120 x 8,375 shares). Aasaan Loans IPO is a book-built issue of Rs 132 crores. This issue is entirely a fresh issue of 1.1 crore equity shares. The allotment for this IPO is expected to be finalised on Monday, June 24, 2024. Aasaan Loans Limited IPO will be listed on both BSE and NSE, and the listing date is fixed on Wednesday, June 26, 2024. The book-running lead managers of Aasaan Loans Limited are Gretex Corporate Services. The registrar for this new IPO is Bigshare Services Private Limited. 

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About Akme Fintrade India Limited

Akme Fintrade India Limited founded in 1996, is a non-banking financial services company. It provides loans in the rural and semi-urban areas of india. The company mainly lends to the rural and semi-urban populations of the country to fulfil the needs.  The company mainly operates in four Indian states -  Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. Akme Fintrade has a registered office in Udaipur, Rajasthan. They had a corporate office registered in Mumbai, Maharashtra. It has 12 branches and over 25 points of presence, including digital and physical branches, it has served over 200,000 customers. Akme Fintrade India also 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. Presently, the company has a team of 125 permanent employees and prioritises welfare and growth.

Objectives of Aasaan Loans IPO

The net funds received from this public offer will be used to increase the company's capital base to fulfil future capital requirements. Additionally, the funds are utilised for the business expansion. A small portion of the proceeds will also be used to meet the issue-related expenses.

Financials of Akme Fintrade India Limited (Amt in Rs Crore)

Akme Fintrade India Limited reported a revenue of Rs 53.45 crore and PAT of 12.25 crore for the period ending on 31 Dec 2023. Earlier on 31st March 2023, the revenue was Rs 69.57 crore and net profit of Rs 15.80 crore. The company’s revenue increased by 3.06% and PAT rose by 283.5% between the FY ending on March 31, 2023 and 31 March 2022. 

Other Important Details of Akme Fintrade India Limited IPO

Time-Table of Akme Fintrade India Limited IPO

Lot Size of Akme Fintrade India Limited IPO

IPO Reservation of Akme Fintrade India Limited (Aasaan Loans)

Promoters of Akme Fintrade India Limited and Their Holdings

The promoters of Akme Fintrade India Limited company are Nirmal Kumar Jain, Manju Devi Jain, Dipesh Jain and Nirmal Kumar Jain HUF.

Key Performance Indicator of Akme Fintrade India Limited IPO

Lead Manager(s) of Akme Fintrade India Limited (Aasaan Loans) IPO

The book-running lead managers of Akme Fintrade India  Limited are Gretex Corporate Services.

How do you apply for the Akme Fintrade India (Aasaan Loans) Limited IPO?

Wait for the public issue to open for subscription, then visit Bigul website to apply for the Akme Fintrade India (Aasaan Loans) Limited IPO with Bigul.

How do you check the allotment status of the Akme Fintrade India (Aasaan Loans) Limited IPO?

The registrar for Akme Fintrade India Limited IPO is Bigshare Services Private Limited. To check your allotment status, please click here.

FAQs

1. What are the details of Akme Fintrade India Limited (Aasaan Loans) IPO 2024?

Aasaan Loans IPO is a book-built issue of Rs 132 crores. This issue is entirely a fresh issue of 1.1 crore equity shares. The allotment for this IPO is expected to be finalised on Monday, June 24, 2024. 

2. Who are the lead managers for the Akme Fintrade India Limited IPO?

Gretex Corporate Services Limited are appointed as the lead managers for this IPO.

3. What is the role of Bigshare Services Private Limited in this IPO?

Bigshare Services Private Limited is the registrar for Akme Fintrade India (Aasaan Loans) Limited, handling the IPO's administrative aspects.

4. How can I apply for the Akme Fintrade India  Limited (Aasaan Loans) IPO?

The public subscription of this IPO will open on June 19, 2024. Click here to continue the application process.

5. How will the net proceeds from the IPO be utilised?

The net funds received from this public offer will be used to increase the company's capital base to fulfil future capital requirements. Additionally, the funds are utilised for the business expansion. A small portion of the proceeds will also be used to meet the issue-related expenses.

6. How can I check the allotment status of the IPO?

Investors can check out the allotment status of the Akme Fintrade India (Aasaan Loans) Limited IPO 2024 by visiting here.

7. What is the financial performance of Akme Fintrade India Limited?

Akme Fintrade India Limited reported a revenue of Rs 53.45 crore and PAT of 12.25 crore for the period ending on 31 Dec 2023. Earlier on 31st March 2023, the revenue was Rs 69.57 crore and net profit of Rs 15.80 crore.

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