Akme Fintrade IPO: The initial public offering (IPO) of non-banking finance company Akme Fintrade (India) Ltd was subscribed 53.97 times on the closing day of bidding on Friday. According to NSE data, the initial share sale worth Rs 132 crore garnered bids for 42,44,43,250 shares against 78,65,000 shares on offer.
The category of non-institutional investors received 129.53 times the subscription, while the category of retail individual investors (RIIs) received 43.67 times. The category of qualified institutional buyers (QIBs) received 28.12 subscriptions.
received a subscription of 3.35 times on the first day of bidding on Wednesday. The IPO has a fresh issue of up to Rs 1.1 lakh crore equity shares. The price range was set at Rs 114-120 per share from the company.
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Akme Fintrade (India) Ltd said on Tuesday that it had raised nearly Rs 38 crore from anchor investors. Akme Fintrade is primarily engaged in providing rural and semi-urban lending solutions to customers in four states — Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. The company’s portfolio includes vehicle and business financing products for small business owners.
For the Initial Public Offering, Gretex Corporate Services is the lead book-running manager. shares of Akme Fintrade (India) Ltd will be listed on the BSE and NSE stock exchanges.
IPO Details
Price Range – Rs 114-120
Issue Size – 132 Crore
Lot Size – 125 shares
Minimum Investment – Rs 14,250
Bidding Dates – 19 June to 21 June
(With Agency inputs)
