Akiko Global Services Limited IPO bids start from Tuesday, June 25 and ends on Thursday, June 27. The IPO is a book built issue of ₹23.11 crores. The Issue is entirely Fresh Issue of 30.01 lakh equity shares. The price band of the issue is set to ₹73 to ₹77 per share with a Face Value of ₹10. Bidding for Anchor Investor will be held on Monday, June 24. The issue shall be listed on NSE SME with tempting date fixed as Tuesday, July 2.
The minimum lot size of the issue is 1600 equity shares and its multiples there-of. The minimum amount of investment required for Retails is ₹123,200. The minimum lot size investment for HNI’s is 2 lots, aggregating to ₹246,400. The company has reserved not more than 50% of shares in the issue for QIB’s, in which 5% for Market Maker Portion, not less than 15% for NII’s and not less than 35% for Retail Individual Investors.
Vraj Iron and Steel Limited IPO price band sets at ₹195 to ₹207 per share: see full details
Financials
| Particulars | Jan 31 2024 | 2023 | 2022 |
| Revenue | 25.90 | 39.58 | 13.51 |
| PAT | 3.21 | 4.53 | 0.77 |
| PAT Margin | 12.41% | 11.45% | 5.76% |
Object of the Issue
- Implementation of ERP Solution and TeleCRM
- Mobile Application for financial product solution
- To meet the Working Capital Requirement
- Enhancing visibility and awareness of our brands, including but not limited to “Akiko Global’ or ‘Moneyfair’.
Risk Factor
- The Company’s top 10 customers contributed approximately 93.26% of its revenue for the year ended March 31, 2023. Losing business from any of these customers could adversely effect Company’s revenue and profitablity.
- The Company has experienced negative cash flow in some previous year, sustained negative cash flow could impact its growth and business.
Fast Track Finsec Private Limited is the book-running lead manager. ICICI Bank Limited is the sponsor bank of the Issue. Skyline Financial Services Pvt. Ltd is registrar of the IPO.
About Akiko Global Services Limited
Incorporated in 2018, Akiko Global Services Limited partners with major banks and non-banking financial companies (NBFC’s) in India with 6 years of expertise and experience. The company is working majorly in the distribution of financial products such as credit card and loans.
As of April 31, 2024, the company has permanent staff of 418 employees.