IPO Centre     22-Jun-24
IPO News
Akme Fintrade (India) IPO ends with good subscription
The offer received bids for 43.35 crore shares as against 78.65 lakh shares on offer.

The initial public offer (IPO) of Akme Fintrade (India) received 43,35,52,375 bids for shares as against 78,65,000 shares on offer. The issue was subscribed 55.12 times.

The Non Institutional Investors (NIIs) category was subscribed 130.33 times. The Retail Individual Investors (RIIs) category was subscribed 45.78 times. The Qualified Institutional Buyers (QIBs) category was subscribed 28.12 times.

The issue opened for bidding on 19 June 2024) and it closed on 21 June 2024. The price band of the IPO was fixed at Rs 114 to 120 per share.

The offer comprises only of fresh issue of 1.1 crore equity shares. The promoter shareholding in the company would decline to 41.6% post- IPO from 56.0% pre-IPO.

The company proposes to utilize the net proceeds from the fresh issue towards augmenting the capital base to meet future capital requirements.

The firm expects to receive the benefits of listing the equity shares on the stock exchanges, including to enhance brand image among existing and potential customers and creation of a public market for the equity shares in India.

Ahead of the IPO, Akme Fintrade (India) on 18 June 2024, raised Rs 37.62 crore from anchor investors. The board allotted 31.35 lakh shares at Rs 120 each to 4 anchor investors.

Akme Fintrade is a non-banking finance company (NBFC) incorporated in 1996, offering vehicle and business loans in rural and semi-urban geographies. The company carries out its operations in the format of hub & spoke business model.

It has presence in 4 states - Rajasthan, Maharashtra, Madhya Pradesh and Gujarat through 12 branches and over 25 points of presence (physical and digital) having served over 2 lakh customer. Its registered office is located at Udaipur, Rajasthan and Corporate Office is at Mumbai, Maharashtra.

The firm reported a net profit of Rs 12.25 crore and income from operations of Rs 50.77 crore for the nine months ended on 31 December 2023.

Previous News
  Akme Fintrade (India) to declare Quarterly Result
 ( Corporate News - 23-Jul-24   10:02 )
  Akme Fintrade (India) IPO ends with good subscription
 ( IPO Centre - IPO News 22-Jun-24   15:48 )
  Akme Fintrade (India) IPO subscribed 53.97 times
 ( IPO Centre - IPO News 21-Jun-24   17:36 )
  Akme Fintrade (India) to announce Quarterly Result
 ( Corporate News - 03-Jul-24   17:43 )
  Akme Fintrade
 ( IPO Centre - New Issue Monitor 17-Jun-24   18:02 )
  Akme Fintrade India reports standalone net profit of Rs 5.61 crore in the March 2023 quarter
 ( Results - Announcements 28-Jun-23   09:45 )
  Market hits fresh life high; Nifty settles below 23,550; VIX jumps 5.76%
 ( Market Commentary - Quick Review 19-Jun-24   15:54 )
  Akme Fintrade (India) opens regional office
 ( Corporate News - 12-Jul-24   17:23 )
  Akme Fintrade (India) IPO subscribed 11.61 times
 ( IPO Centre - IPO News 20-Jun-24   17:08 )
  Akme Fintrade (India) IPO subscribed 3.01 times
 ( IPO Centre - IPO News 19-Jun-24   17:10 )
  Akme Fintrade (India) rises on debut
 ( Hot Pursuit - 26-Jun-24   10:53 )
Other Stories
  Sanstar IPO subscribed 82.98 times
  23-Jul-24   17:48
  Sanstar IPO subscribed 13.47 times
  22-Jul-24   17:19
  Sanstar IPO subscribed 1.91 times
  19-Jul-24   17:41
  Emcure Pharmaceuticals IPO ends with stellar subscription
  06-Jul-24   17:20
  Bansal Wire Industries IPO ends with strong subscription
  06-Jul-24   16:14
  Emcure Pharmaceuticals IPO subscribed 67.84 times
  05-Jul-24   17:42
  Bansal Wire Industries IPO subscribed 59.57 times
  05-Jul-24   17:28
  Emcure Pharmaceuticals IPO subscribed 4.98 times
  04-Jul-24   17:14
  Bansal Wire Industries IPO subscribed 5.72 times
  04-Jul-24   17:09
  Emcure Pharmaceuticals IPO subscribed 1.32 times
  03-Jul-24   17:14
Back Top