Akiko Global Services Limited (The Money Fair) IPO Detail
Incorporated in June 2018, Akiko Global Services Limited partners with major banks and non-banking financial companies (NBFCs) in India. The company has six years of experience and specializes in distributing and selling financial products, such as credit cards and loans.
The company specializes in helping banks and financial institutions in India sell credit cards and personal loans.
The Money Fair, powered by Akiko Global Services Limited, is a technology platform that uses algorithms to gather and analyze data to assess creditworthiness. It provides insights for easy comparison of offers and aims to increase the chances of securing a loan or a card for customers.
As of April 30, 2024, the company employs 418 permanent staff, including its directors and key managerial personnel.
Company Promoters
Mr. Gurjeet Singh Walia, Ms. Richa Arora, Mr. Ankur Gaba, Mr. Puneet Mehta and Ms. Priyanka Dutta.IPO Details
| IPO Opening Date | Jun 25, 2024 |
| IPO Closing Date | Jun 27, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹73 - 77 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹23.11 Cr |
| Fresh Issue | ₹23.11 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Tentative Timetable
The Akiko Global Services Limited (The Money Fair) IPO open date is Jun 25, 2024, and the close date is Jun 27, 2024. The issue may list on Jul 02, 2024.
| IPO Open Date | Jun 25, 2024 |
| IPO Close Date | Jun 27, 2024 |
| Basis of Allotment Date | Jul 01, 2024 |
| Initiation of Refunds | Jul 01, 2024 |
| Credit of Shares to Demat Account | Jul 01, 2024 |
| IPO Listing Date | Jul 02, 2024 |
IPO Lot Size
The Akiko Global Services Limited (The Money Fair) IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹123200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹123200 |
| Maximum | 1 | 1600 | ₹123200 |
IPO Promoter Holding
| Pre Issue Share Holding | 92.77% |
| Post Issue Share Holding | 66.91% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 234.88 | 610.78 | 22.98 |
| 31-Mar-22 | 405.67 | 1353.31 | 77.85 |
| 31-Mar-23 | 1130.87 | 3958.97 | 453.26 |
| 31-Jan-24 | 1794.91 | 2609.76 | 321.48 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objectives: -
- Implementation of ERP Solution and TeleCRM
- Mobile Application for financial product solution
- To meet working capital requirements.
- Enhancing visibility and awareness of the brands, including but not limited to "Akiko Global" or "Moneyfair
- General Corporate Purpose; and
- Issue Expenses
Akiko Global Services Limited (The Money Fair) IPO Registrar:
Skyline Financial Services Private Ltd
Akiko Global Services Limited (The Money Fair) IPO Lead Manager(s):
Fast Track Finsec Pvt Ltd
Company Contact Information:
Akiko Global Services Limited (The Money Fair)
11th Floor, Off. No. 8/4-D, Vishwadeep Building
District Centre Janak Puri
West Delhi, New Delhi-110058
