Akme Fintrade India (Aasaan Loans) IPO
IPO Listing Details
- Listing Date
26 Jun 2024
- Listing Price
₹125.70
- Listing Change
4.75%
- Last Traded Price
₹106.52
IPO Details
- Open Date
19 Jun 2024
- Close Date
21 Jun 2024
- IPO
Price Range
₹ 114 to ₹ 120
- IPO
Size
₹ 132 Cr
- Listing Exchange
BSE, NSE
- Listing Date
26 Jun 2024
IPO Timeline
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 |
Last Updated: 24 June 2024 12:05 PM by 5Paisa
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 |
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
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 |
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.
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FAQs
Aasaan Loans IPO opens from 19th June to 21st June 2024.
The size of Aasaan Loans IPO is ₹132 cr.
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.
The price band of Aasaan Loans IPO is set at ₹114 to ₹120 per share.
The minimum lot size of Aasaan Loans IPO is 125 shares and the minimum investment required to apply for the IPO is ₹14,250.
The share allotment date of Aasaan Loans IPO is 24th June 2024.
The Aasaan Loans IPO will be listed on 26th June 2024.
Gretex Corporate Services Limited is the book-running lead manager for 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 Information
Akme Fintrade India (Aasaan Loans)
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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