Akiko Global (The Money Fair) IPO
IPO Listing Details
- Listing Date
02 Jul 2024
- Listing Price
₹ 98.00
- Listing Change
inf%
- Last Traded Price
₹ 79.65
IPO Details
- Open Date
25 Jun 2024
- Close Date
27 Jun 2024
- IPO Price Range
₹ 73 to ₹77
- IPO Size
₹ 23.11 Cr
- Listing Exchange
NSE SME
- Listing Date
02 Jul 2024
IPO Timeline
Akiko Global (The Money Fair) IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 25-Jun-24 | 0.00 | 1.01 | 2.53 | 1.42 |
| 26-Jun-24 | 0.01 | 2.31 | 6.53 | 3.61 |
| 27-Jun-24 | 10.21 | 48.05 | 45.57 | 34.96 |
Last Updated: 05 July 2024 10:31 AM by 5Paisa
Last Updated: 27th June 2024, by 5paisa
Akiko Global Services IPO, also known as the Money Fair IPO is all set to open from 25th June to 27th June 2024. The company is a Channel Partner (DSA) for major Banks / NBFCs. The IPO includes a fresh issue of 3,001,600 shares worth ₹23.11 cr. The share allotment date is 1st July 2024, and the IPO will be listed on 2nd July 2024 on the stock exchanges. The price band is ₹73 to ₹77 and the lot size is 1600 shares.
Fast Track Finsec Private Limited is the book-running lead manager for this IPO, while Skyline Financial Services Private Limited is the registrar.
Objectives of Akiko Global IPO
Akiko Global Services Limited plans to utilize the raised capital from the IPO to:
● To fund the working expenditure requirements for implementing ERP Solution and TeleCRM.
● For building a mobile app for offering financial product solutions.
● Increase the visibility and awareness of various brands of the company including "Akiko Global" or "Moneyfair”.
● To fund the working capital requirement.
● General corporate purposes.
● To meet the public issue expenses.
Akiko Global IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 23.11 |
| Offer for sale | 23.11 |
| Fresh issue | - |
Akiko Global IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| HNI (Min) | 2 | 3200 | ₹246,400 |
Akiko Global IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 10.21 | 6,54,400 | 66,80,000 | 51.44 |
| NII (HNI) | 48.05 | 4,28,800 | 2,06,03,200 | 158.64 |
| Retail | 45.57 | 9,98,400 | 4,54,97,600 | 350.33 |
| Total | 34.96 | 20,81,600 | 7,27,80,800 | 560.41 |
Akiko Global IPO Anchor Allocation
| Anchor Bid Date | 24 June, 2024 |
| Total no. of shares offered | 854,400 |
| Portion Size for Anchor Investors | 6.58 Cr. |
| Lock in Period for 50% shares (30 days) | 31 July, 2024 |
| Lock in Period for rest of shares (90 days) | 29 September, 2024 |
Akiko Global Services is a Channel Partner (DSA) for major Banks / NBFCs. The company offers various services including tele-calling, corporate activities, and a feet-on-street and digital marketing model to help acquire customers digitally.
The company also has expertise in the segment of credit cards and loans, in which it helps customers make informed decisions and sells them financial products on behalf of banks and NBFCs. It has ISO certification from QFS Management Systems LLP and is also Accredited by the Standards Council of Canada. The company had 418 permanent employees as of April 2024. The company also offers services via its website Money Fair (https://themoneyfair.com/).
Peer Comparison
● No listed peers.
For More Information
Webstory on Akiko Global Services IPO
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 39.58 | 13.51 | 6.10 |
| EBITDA | 6.32 | 1.18 | 0.42 |
| PAT | 4.53 | 0.78 | 0.23 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 11.30 | 4.05 | 2.34 |
| Share Capital | 0.04 | 0.02 | 0.02 |
| Total Borrowings | 5.52 | 2.82 | 1.89 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 0.52 | 0.12 | -0.17 |
| Net cash from / (used in) investing activities | -0.28 | -0.14 | -0.44 |
| Net cash flow from / (used in) financing activities | 0.68 | -0.25 | 0.44 |
| Net increase (decrease) in cash and cash equivalents | 0.92 | -0.28 | -0.17 |
Strengths
1. The company has a Diversified Business Model.
2. The company with years of experience in the industry has created a vast database of customers from its target segments.
3. It has partnerships with various banks.
4. Experienced promoters and management team.
Risks
1. The industry is highly competitive.
2. It has reported negative cash flow in the past.
3. The company operates in dynamic and competitive online fintech industries, which makes it difficult to predict future prospects.
4. Cybersecurity and data breaches are a big concern.
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FAQs
Akiko Global Services IPO opens from 25th June to 27th June 2024.
The size of Akiko Global Services IPO is ₹23.11 cr.
To apply for Akiko Global Services 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 Akiko Global Services 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.
The price band of Akiko Global Services IPO is fixed at ₹73 to ₹77 per share.
The minimum lot size of Akiko Global Services IPO is 1600 shares and the investment required is ₹1,16,800.
The share allotment date of Akiko Global Services IPO is 1st July 2024.
The Akiko Global Services IPO will be listed on 2nd July 2024.
Fast Track Finsec Private Limited is the book-running lead manager for Akiko Global Services IPO.
Akiko Global Services plans to utilize the raised capital from the IPO to:
● To fund the working expenditure requirements for implementing ERP Solution and TeleCRM.
● For building a mobile app for offering financial product solutions.
● Increase the visibility and awareness of various brands of the company including "Akiko Global" or "Moneyfair”.
● To fund the working capital requirement.
● General corporate purposes.
● To meet the public issue expenses.
Contact Information
Akiko Global (The Money Fair)
Akiko Global Services Limited
11th Floor, Off. No. 8/4-D, Vishwadeep Building
District Centre Janak Puri
West Delhi, New Delhi-110058
Phone: 011-4010 4241
Email: accounting@akiko.co.in
Website: http://www.themoneyfair.com/
Akiko Global (The Money Fair) IPO Register
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: compliances@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Akiko Global (The Money Fair) IPO Lead Manager
Fast Track Finsec Pvt Ltd
