What you must know about Akme Fintrade India IPO?
by 5paisa Research Team
17 Jun 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 26-Jun-24
- IPO Price Range ₹114
- Listing Price ₹125.7
- Listing Change 4.8 %
- Last Traded Price ₹120.34
- Current Change 0.3 %
Aasaan Loans IPO Details
- Open Date 19-Jun-24
- Close Date 21-Jun-24
- Lot Size 125
- IPO Size ₹ 132 Cr
- IPO Price Range ₹ 114 to ₹ 120
- Min Investment ₹ 15,000
- Listing Exchange BSE, NSE
- Basis of Allotment 24-Jun-24
- Refunds 25-Jun-24
- Credit to Demat Account 25-Jun-24
- Listing Date 26-Jun-24
Akme Fintrade India (Aasaan Loans) IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 19-Jun-24 | 0.02 | 5.18 | 4.28 | 3.07 |
| 20-Jun-24 | 0.17 | 22.28 | 15.31 | 11.72 |
| 21-Jun-24 | 28.12 | 129.71 | 43.95 | 54.14 |
Aasaan Loans IPO Synopsis
Last Updated: 21st June 2024, 05:50 PM by 5paisa
Akme Fintrade IPO is set to open from 19th June to 21st June 2024. The company is a non-banking finance company (NBFC). The IPO includes a fresh issue of 11,000,000 shares worth ₹132 cr. The share allotment date is 24th June 2024, and the IPO will be listed on 26th June 2024 on the stock exchanges. The price band is set at ₹114 to ₹120 and the lot size is 125 shares.
Gretex Corporate Services Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar.
Objectives of Aasaan Loans IPO
● Augment the capital base of the Company.
● To meet issue expenses.
Aasaan Loans IPO Video
Aasaan Loans IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 132.00 |
| Offer for sale | - |
| Fresh issue | 132.00 |
Aasaan Loans IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1625 | ₹195,000 |
| S-HNI (Min) | 14 | 1,750 | ₹210,000 |
| S-HNI (Max) | 66 | 8,250 | ₹990,000 |
| B-HNI (Min) | 67 | 8,375 | ₹1,005,000 |
Aasaan Loans IPO Anchor Allocation
| Anchor Bid Date | 18 June, 2024 |
| Total no. of shares offered | 3,135,000 |
| Portion Size for Anchor Investors | 37.62 Cr. |
| Lock in Period for 50% shares (30 days) | 24 July, 2024 |
| Lock in Period for rest of shares (90 days) | 22 September, 2024 |
About Akme Fintrade India (Aasaan Loans)
Established in 1996, Akme Fintrade Limited is a non-banking finance company (NBFC). The company offers Vehicle Finance and Business Finance Products for small business owners in rural and semi-urban areas via its lending platform www.aasaanloans.com.
The company has a presence in Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. To date, it has 12 branches and over 25 points of presence (digital and physical branches with 2,00,000+ customers. It has two business verticals:
● Vehicle financing, comprising of Used Commercial Vehicle, 2 Wheeler Loans, Used 2 Wheeler Loans
● Business Finance to small business owners and SME/MSME business owners.
Peer Comparison
● MAS Financial Services Ltd Limited
● Shriram Finance Limited
● Cholamandalam Investment And Finance Company Limited
● Arman Financial Service Limited
● CSL Finance Limited
For More Information:
Webstory on Akme Fintrade (Aasaan Loans) IPO
Akme Fintrade India (Aasaan Loans) Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 69.51 | 67.44 | 86.17 |
| EBITDA | 67.90 | 43.28 | 48.27 |
| PAT | 15.80 | 4.12 | 16.30 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 390.50 | 374.01 | 455.39 |
| Share Capital | 31.67 | 21.81 | 21.81 |
| Total Borrowings | 185.71 | 237.16 | 325.13 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 23.61 | 63.10 | 85.08 |
| Net cash from / (used in) investing activities | -14.96 | 1.59 | 2.62 |
| Net cash flow from / (used in) financing activities | -2.01 | -74.55 | -84.10 |
| Net increase (decrease) in cash and cash equivalents | 6.63 | -9.85 | 3.60 |
Aasaan Loans IPO Key Points
-
Strengths
1. The company has proven execution capabilities with a strong rural and semi-urban focus.
2. It also has a well-established Vehicle Finance and small business lending business.
3. The company has a customer-centric approach and a deep understanding of target customers.
4. It also has access to Diversified Sources of Capital and Effective Asset Liability Management.
5. The company follows a Robust underwriting process and risk management policies.
6. The company operates on a Hub and Spoke business model that improves efficiencies and decreases costs.
7. Experienced management team.
-
Risks
1. The company has experienced a reduction in revenue in the past.
2. It has higher levels of NPAs as compared to some of its peer companies.
3. A major part of revenue comes from the business Loans segment.
4. It has reported negative cash flows in the past.
5. It operates in a highly competitive industry.
6. Any failures to follow RBI norms can impact the business.
Aasaan Loans
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Aasaan Loans IPO FAQs
When does Aasaan Loans IPO opens and closes?
Aasaan Loans IPO opens from 19th June to 21st June 2024.
What is the size of Aasaan Loans IPO?
The size of Aasaan Loans IPO is ₹132 cr.
How to apply for Aasaan Loans IPO?
To apply for Aasaan Loans IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for Aasaan Loans IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of Aasaan Loans IPO?
The price band of Aasaan Loans IPO is set at ₹114 to ₹120 per share.
What is the minimum lot size and investment required for Aasaan Loans IPO?
The minimum lot size of Aasaan Loans IPO is 125 shares and the minimum investment required to apply for the IPO is ₹14,250.
What is the allotment date of Aasaan Loans IPO?
The share allotment date of Aasaan Loans IPO is 24th June 2024.
What is Aasaan Loans IPO listing date?
The Aasaan Loans IPO will be listed on 26th June 2024.
Who are the book runners for Aasaan Loans IPO?
Gretex Corporate Services Limited is the book-running lead manager for Aasaan Loans IPO.
What is the objective of Aasaan Loans IPO?
Aasaan Loans will use the proceedings from the public issue for:
● Augment the capital base of the Company.
● To meet issue expenses.
Contact Details of Akme Fintrade India (Aasaan Loans) IPO
Contact Information
Akme Fintrade India Ltd
AKME Business Centre (ABC),
4-5 Subcity Centre, Savina Circle opp
Krishi Upaz Mandi Udaipur,- 313002
Phone: +91- 294-2489501
Email: cs@aasaanloans.com
Website: https://aasaanloans.com/
Akme Fintrade India (Aasaan Loans) IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Akme Fintrade India (Aasaan Loans) IPO Lead Manager
Gretex Corporate Services Limited
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