The initial public offering (IPO) of Akme Fintrade India Ltd (Aasaan Loans) will open for bidding on Wednesday looking to raise Rs 132 crore.
Akme Fintrade India Ltd is a non-banking financial company (NBFC) founded in 1996, with more than two decades of expertise in providing loans to rural and semi-urban regions across India.
The company focusses on offering lending solutions that cater to the specific needs and goals of rural and semi-urban communities. Its product range includes Vehicle Finance and Business Finance aimed at small business owners.
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10 things to know about the IPO of Aasaan Loans
Subscription period: The Aasaan Loans IPO will be open for subscription from June 19, 2024, to June 21, 2024.
Price band: The price band for the Aasaan Loans IPO is set between Rs 114 and Rs 120 per share.
Fundraising target: Aasaan Loans is launching an IPO worth Rs 132.00 crore through a book-built issue.
Issue division: The IPO is entirely a fresh issue which consists of 1.1 crore shares amounting to Rs 132 crore.
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Lot size: The minimum lot size for an application is 125 shares. Retail investors need to invest a minimum of Rs 15,000. For small non-institutional investors (sNII), the minimum investment is 14 lots (1,750 shares), totalling Rs 2,10,000.
For big non-institutional investors (bNII), the minimum investment is 67 lots (8,375 shares), totalling Rs 10,05,000.
Allotment date: The allotment for Aasaan IPO is expected to be finalised on Monday, June 24, 2024.Â
Listing date: The shares of Akme Fintrade India Ltd will list on the BSE and NSE, with a tentative listing date of Wednesday, June 26, 2024.
Registrar: Bigshare Services Pvt Ltd is the registrar for the issue of Aasaan Loans IPO.
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Listing platforms: The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Grey market premium (GMP): The latest Grey Market Premium (GMP) for the Aasaan Loans IPO is Rs 36 as of June 18, 2024 at 12:53 PM, suggesting an estimated listing price of Rs 156. This indicates an expected percentage gain per share of 30%.
