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Incorporated in 1996 Akme Fintrade India Ltd is non banking financial company (NBFC) with over two decades of experience in providing loans to rural and semi urban areas in India.
The company specializes in lending solutions designed to meet the needs and aspirations of people in rural and semi urban regions. Their main products include vehicle finance and business finance for small business owners.
The company has its registered office in Udaipur, Rajasthan and its corporate office in Mumbai, Maharashtra. With 12 branches and more than 25 points of presence, both digital and physical, they have served over 200,000 customers.
They provide financing for the purchase of new two wheelers and three wheelers, such as scooters, motorcycles and auto rickshaws, catering to both salaried professionals and self-employed individuals.
As of December 31, 2023, the company employs 125 permanent staff members and places a strong emphasis on their overall welfare.
Akme Fintrade India IPO Overview
Aasaan Loans is launching an IPO worth ₹132 crore, consisting entirely of fresh issue of 1.1 crore shares. The IPO will be open for subscription from June 19 to June 21, 2024. The allotment of shares is expected to be finalized on June 24, 2024. The shares will be listed on BSE and NSE, with tentative listing date of June 26, 2024. The price band for the IPO is set between ₹114 and ₹120 per share, with minimum application size of 125 shares.
The company is promoted by Nirmal Kumar Jain,Dipesh Jain, Manju Devi Jain and Nirmal Kumar Jain HUF. Before the issuepromoters hold 56.01% of shares. The shareholding after issue has not been determined yet. Bigshare Services Pvt Ltd will act as the registrar for the IPO.
Akme Fintrade India IPO GMP
As of June 14th, 2024, at 09:28 PM, the Grey Market Premium (GMP) for Aasaan Loans’ IPO is ₹30. With a price band of ₹120.00, the estimated listing price for Aasaan Loans’ IPO is ₹150 (the cap price plus today’s GMP). This represents an expected gain of 25.00% per share. Trade Target will provide daily updates on the latest GMP and more details, so stay tuned.
- Date: 24 – June – 2024
- Akme Fintrade India GMP: ₹18 (15%)
- Date: 23 – June – 2024
- Akme Fintrade India GMP: ₹30 (25%)
- Date: 22 – June – 2024
- Akme Fintrade India GMP: ₹30 (25%)
- Date: 21 – June – 2024
- Akme Fintrade India GMP: ₹30 (25%)
- Date: 20 – June – 2024
- Akme Fintrade India GMP: ₹30 (25%)
- Date: 19 – June – 2024
- Akme Fintrade India GMP: ₹48 (40%)
- Date: 18 – June – 2024
- Akme Fintrade India GMP: ₹40 (33.33%)
- Date: 17 – June – 2024
- Akme Fintrade India GMP: ₹33 (27.5%)
- Date: 16 – June – 2024
- Akme Fintrade India GMP: ₹33 (27.5%)
- Date: 15 – June – 2024
- Akme Fintrade India GMP: ₹33 (27.5%)
- Date: 14 – June – 2024
- Akme Fintrade India GMP: ₹30 (25%)
How can one apply for Akme Fintrade India IPO?
Investors can place bids starting with a minimum of 125 shares and in multiples of that amount. Here’s a breakdown of the minimum and maximum investments for retail and high-net-worth individual (HNI) investors:
| 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 |
Akme Fintrade India IPO Financial
For the periods ending March 31, company’s financial metrics showed some fluctuations. In 2023 assets were ₹390.50 crore, up from ₹374.01 crore in 2022 but lower than ₹455.40 crore in 2021.
Revenue for 2023 was ₹69.57 crore slightly higher than ₹67.50 crore in 2022 but less than ₹86.79 crore in 2021.
Profit after tax improved to ₹15.80 crore in 2023 from ₹4.12 crore in 2022, though still below ₹16.31 crore in 2021.
Total borrowings decreased from ₹317.82 crore in 2021 to ₹230.06 crore in 2022 and further to ₹177.76 crore in 2023.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
Assets in (₹ Crores) | 390.50 | 374.01 | 455.40 |
Revenue (₹ Crores) | 69.57 | 67.50 | 86.79 |
PAT (₹ crores) | 15.80 | 4.12 | 16.31 |
Total Borrowing (₹ crores) | 177.76 | 230.06 | 317.82 |
Akme Fintrade India IPO Vs Peers
The financial metrics reveal that Shriram Finance Limited has the highest EPS Basic at 160.54, while Cholamandalam Investment and Finance Company Ltd has the highest P/E ratio at 33.52. Akme Fintrade India Ltd has an EPS Basic of 5.85, with no P/E ratio provided. Each company shows varying strengths in earnings per share and price-to-earnings ratios, indicating diverse financial positions and market valuations.
| Company | EPS Basic | P/E(x) |
|---|---|---|
Akme Fintrade India Ltd | 5.85 | - |
Mas Financial Services Ltd | 37.18 | 26.47 |
Shriram Finance Limited | 160.54 | 14.73 |
Cholamandalam Investment And Finance Company Ltd | 32.44 | 33.52 |
Arman Financial Service Limited | 110.47 | 20.99 |
CSL Finance Limited | 22.02 | 22.7 |
Akme Fintrade India IPO Quota allocation
- QIB Investors: 50% of the net issue
- Retail Investors: 35% of the net issue
- NII (HNI) Investors: 15% of the net issue
Expected Listing Date for Akme Fintrade India IPO
- Subscription Period: 19 June 2024 to 21 June 2024
- Basis of Allotment Finalization: 24 June 2024
- Initiation of Refunds: 25 June 2024
- Demat Credits: 25 June 2024
- Listing Date: 26 June 2024
- Listing on: BSE, NSE
