Akme Fintrade India Ltd (Aasaan Loans) IPO Detail
Incorporated in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) with over 20 years of experience in lending to rural and semi-urban areas in India.
The company mainly provides lending solutions tailored to the needs and aspirations of rural and semi-urban populations. Its portfolio comprises Vehicle Finance and Business Finance Products for small business owners.
The company operates in rural and semi-urban areas across four Indian states - Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. It has a registered office in Udaipur, Rajasthan, and a Corporate Office in Mumbai, Maharashtra. With 12 branches and over 25 points of presence, including digital and physical branches, it has served over 200,000 customers.
The company 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.
The company has 125 permanent employees as of December 31, 2023, and prioritizes their overall welfare.
Company Promoters
Nirmal Kumar Jain, Manju Devi Jain, Dipesh Jain and Nirmal Kumar Jain HUF.IPO Details
| IPO Opening Date | Jun 19, 2024 |
| IPO Closing Date | Jun 21, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹114 - 120 per equity share |
| Market Lot | 125 Shares |
| Min Order Quantity | 125 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹132.00 Cr |
| Fresh Issue | ₹132.00 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Tentative Timetable
The Akme Fintrade India Ltd (Aasaan Loans) IPO open date is Jun 19, 2024, and the close date is Jun 21, 2024. The issue may list on Jun 26, 2024.
| IPO Open Date | Jun 19, 2024 |
| IPO Close Date | Jun 21, 2024 |
| Basis of Allotment Date | Jun 24, 2024 |
| Initiation of Refunds | Jun 25, 2024 |
| Credit of Shares to Demat Account | Jun 25, 2024 |
| IPO Listing Date | Jun 26, 2024 |
IPO Lot Size
The Akme Fintrade India Ltd (Aasaan Loans) IPO market lot size is 125 shares. A retail-individual investor can apply for up to 13 lots (1625 shares or ₹195000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 125 | ₹15000 |
| Maximum | 13 | 1625 | ₹195000 |
IPO Promoter Holding
| Pre Issue Share Holding | 56.01% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 455.40 | 86.79 | 16.31 |
| 31-Mar-22 | 374.01 | 67.50 | 4.12 |
| 31-Mar-23 | 390.50 | 69.57 | 15.80 |
| 31-Dec-23 | 417.96 | 53.45 | 12.25 |
Objects of the Issue:
The company proposes to utilize the Net Proceeds from the Issue towards augmenting the capital base of the company to fulfil its future capital requirements, which are anticipated to arise as a result of the expansion of the business and assets. Further, a portion of the proceeds from the Issue will be used towards meeting Issue-related expenses.Akme Fintrade India Ltd (Aasaan Loans) IPO Registrar:
Bigshare Services Pvt Ltd
Akme Fintrade India Ltd (Aasaan Loans) IPO Lead Manager(s):
Gretex Corporate Services Limited
Company Contact Information:
Akme Fintrade India Ltd (Aasaan Loans)
AKME Business Centre (ABC),
4-5 Subcity Centre, Savina Circle opp
Krishi Upaz Mandi Udaipur,- 313002
