Akme Fintrade IPO: Check out GMP, allotment updates, and more
About Akme Fintrade India Ltd.
Akme Fintrade India Ltd. is a non-banking financial company (NBFC) that has been providing financial services since its incorporation in 1996. Registered with the Reserve Bank of India, it operates as a non-systemically important non-deposit-taking entity. The company specializes in offering lending solutions tailored to the needs of rural and semi-urban populations in India, focusing on vehicle finance and business finance products for small business owners.
With over two decades of experience in the lending sector, Akme Fintrade has established a significant presence in its target markets. It operates through a network of 12 branches and more than 25 points of presence, which include both digital and physical branches, ensuring a wide reach across its customer base.
IPO News: The Akme Fintrade Ltd IPO, which commenced on June 19, 2024, reached full subscription by June 21, 2024.
Investor attention is now on the allotment results, anticipated to be announced today, June 24, 2024. The IPO was met with enthusiasm, achieving a subscription rate of 55.12 times on the final day, with bids for 43,35,52,375 shares surpassing the 78,65,000 shares available.
Akme Fintrade IPO Overview
The Akme Fintrade IPO, valued at ₹132 crore, consisted solely of a fresh issue, with no offer-for-sale component. Shares were priced between ₹114 and ₹120, each with a face value of ₹10. Investors could bid in lots of 125 shares, or multiples thereof.
The distribution of shares was as follows: 50% to qualified institutional buyers, 15% to non-institutional investors, and 35% to retail investors. Additionally, 5,50,000 shares were set aside for employees.
The company plans to bolster its capital base with the net proceeds to support anticipated growth and expansion. A portion of the funds will also address the costs associated with the issue.
Gretex Corporate Services Limited served as the lead manager, with Bigshare Services Pvt Ltd acting as the registrar. The company’s promoters include Nirmal Kumar Jain, Manju Devi Jain, Dipesh Jain, and Nirmal Kumar Jain HUF.
Akme Fintrade Ltd GMP
The Akme Fintrade IPO’s grey market premium stood at +30, signaling a trading premium of ₹30 above the issue price, as reported by investorgain.com. With this premium, the expected market debut price for Akme Fintrade shares is around ₹150, a 25% increase over the top IPO price of ₹120.
Checking Allotment Status
To check the allotment status for Akme Fintrade India IPO:
1 . Visit the allotment page for Akme Fintrade India IPO
2. From the menu, select ‘Akme Fintrade India’ as the IPO name.
3. Choose to search by PAN number, application number, or demat account number.
4. Enter the relevant details based on your selection.
5. Click ‘Search’ to view the allotment status on your screen.
