Akme Fintrade (India) Limited IPO bids starts for subscription on Wednesday, June 19 and ends on Friday, June 21. The bidding for Anchor Investor will be held on Tuesday, June 18. AFIL IPO is a book built issue of Rs. 132 crores. The issue is entirely a fresh issue of 1.10 crores shares. The issue shall be listed on both NSE and BSE with tempting date fixed as Wednesday, June 26.
The company is offering its share price in the band o Rs. 114 to Rs. 120 per share with a face value of Rs. 10. The minimum lot size of the issue is 125 equity shares and its multiples thereof. The minimum amount of investments required for retails is ₹15,000. The minimum lot size investments for HNI is 14 lots amounting to ₹2,10,000.
The company has reserved not more than 50% of shares in the public issue for QIB’s, not less than 35% for Retails, not less than 15% for NIB’S and 5% for Eligible employees.
Gretex Corporate Services Limited is the book running lead manager. Axis Bank is sponsor bank of the IPO. Big Share Services Private Limited is the registrar of the Issue.
Financials
| 31 Dec 2024 | 31 Mar 2023 | |
| Revenue | 53.43 | 69.57 |
| Profit | 12.25 | 15.80 |
| Total Borrowing | 195 | 177.76 |
Object of the issue
- To meet the future capital requirements, which are anticipated to arise as a result of the expansion of the business and assets.
- Meeting Issue related expenses.
Risk Factors
- The company has higher levels of NPA’s as compared of its peer companies.
- Company did not comply with certain RBI Guidelines in the past.
- Company’s business is operational particularly in the state of Rajasthan.
- Company’s Credit rating are presently low.
About Akme Fintrade (India) Limited
AFIL was incorporated in 1996. AFIL has a legacy of 25 years in traditional lending services, with presence in Rajasthan, Maharashtra, Madhya Pradesh, Gujarat. It has 20 physical branches. The company has 125 employees as of December 31, 2023.
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