Akme Fintrade India IPO (Aasaan Loans) IPO Review

 
Aasaan Loans IPO Review

IPO Open Date: June 19, 2024

IPO Close Date: June 21, 2024

IPO Price: ₹114 to ₹120 per share

Lot Size: 125 Shares

Listing: June 26, 2024

Aasaan Loans is scheduled to hit the market on June 19, 2024 and close on June 21, 2024. Aasaan Loans plans to raise around ₹132.00 Cr through an IPO with a sale of up to 11,000,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Incorporated in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) specializing in lending to rural and semi-urban areas in India for over two decades. Focused on meeting the financial needs of these populations, the company offers tailored lending solutions, including Vehicle Finance and Business Finance Products designed for small business proprietors. Operating across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat, Akme Fintrade has a robust presence with a registered office in Udaipur, Rajasthan, and a Corporate Office in Mumbai, Maharashtra. With a network of 12 branches and over 25 points of presence, encompassing both digital and physical outlets, the company has successfully catered to the financial requirements of more than 200,000 customers.

Specializing in financing the acquisition of new two-wheelers and three-wheelers like scooters, motorcycles, and auto rickshaws for both salaried professionals and self-employed individuals, Akme Fintrade India Ltd boasts a dedicated team of 125 permanent employees as of December 31, 2023. The company places a strong emphasis on the well-being of its workforce, recognizing their importance in delivering quality financial services to its clientele. By prioritizing employee welfare and maintaining a customer-centric approach, Akme Fintrade continues to play a significant role in facilitating access to financial resources in rural and semi-urban regions of India.

Aasaan Loans



Aasaan Loans IPO Details

Aasaan Loans IPO opens on June 19, 2024, and closes on June 21, 2024. The Listing date for Aasaan Loans IPO is on June 26, 2024. The price band for IPO is ₹114 to ₹120 per share and lot size of 125 Shares.

IPO DateJune 19, 2024 to June 21, 2024
Listing DateJune 26, 2024
Price₹114 to ₹120 per share
Lot Size125 Shares
Issue Size₹132.00 Cr
Face Value₹10 per share

Aasaan Loans IPO Tentative Timetable

Aasaan Loans opening date is June 19, 2024 and close date is June 21, 2024. The IPO allotment date is June 24, 2024. The refund initiation of IPO is on June 25, 2024. The credit of shares in demat account is on June 25, 2024. The listing date is on June 26, 2024.

EventDate
IPO OpeningJune 19, 2024
IPO ClosingJune 21, 2024
IPO Allotment DateJune 24, 2024
Refund InitiationJune 25, 2024
Shares Credit to DematJune 25, 2024
Lisiting DateJune 26, 2024

Aasaan Loans IPO Lot Size

Lot Size of this IPO is 125 shares. A retail-individual investor can apply for up to 13 lots (1625 shares or ₹195,000).

CategoryLotsSharesAmount
Retail(Minimum)1125₹15,000
Retail(Maximum)131625₹195,000
S-HNI (Minimum)141,750₹210,000
B-HNI (Minimum)678,375₹1,005,000

Aasaan Loans IPO Promoter Holding

Pre Issue Share Holding56.01%
Post Issue Share Holding

Aasaan Loans IPO Review

Akme Fintrade India Ltd, incorporated in 1996, is a seasoned non-banking financial company (NBFC) with a solid track record of over 20 years in lending to rural and semi-urban areas in India. The company focuses on providing customized lending solutions that cater to the unique needs and aspirations of these populations. Its product portfolio includes Vehicle Finance and Business Finance tailored for small business owners. Operating across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat, Akme Fintrade has a substantial presence with its registered office in Udaipur and a corporate office in Mumbai. With 12 branches and over 25 points of presence, both digital and physical, the company has successfully served more than 200,000 customers. Their primary focus is on financing the purchase of new two-wheelers and three-wheelers for salaried professionals and self-employed non-professionals, reflecting their deep-rooted commitment to the mobility and economic upliftment of rural and semi-urban demographics.

Financially, Akme Fintrade India Ltd has shown significant growth and stability. Between the financial years ending March 31, 2023, and March 31, 2022, the company’s revenue increased by 3.06%, and profit after tax (PAT) surged by an impressive 283.5%. As of December 31, 2023, the company's assets stood at Rs. 417.96 crore, with a net worth of Rs. 217.01 crore and reserves and surplus of Rs. 185.34 crore. The company's revenue for the nine months ended December 31, 2023, was Rs. 53.45 crore, and PAT was Rs. 12.25 crore. Key performance indicators show a Return on Equity (ROE) of 5.64%, a Debt/Equity ratio of 2.49, and a PAT margin of 22.93%. These figures highlight Akme Fintrade’s strong financial health and effective management, despite the challenges posed by the broader economic environment.

Akme Fintrade's upcoming IPO aims to strengthen its capital base to support future business expansion and asset growth. The proceeds from the IPO will primarily be used to augment the company's capital requirements and cover issue-related expenses. With a strategic focus on rural and semi-urban financing, Akme Fintrade is well-positioned for continued growth. Investors looking at the IPO should consider the company’s robust financial performance, extensive experience, and strong market presence in rural and semi-urban areas. Despite being priced aggressively, the IPO offers potential for medium to long-term gains, making it a compelling option for investors seeking exposure to a growing NBFC with a solid track record in the Indian financial sector.

Aasaan Loans IPO Subscription Status (Bidding Details)

Table not found

Aasaan Loans IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Aasaan Loans IPO FAQs

What is Aasaan Loans IPO?

Aasaan Loans is issuing 11,000,000 equity shares with a face value of 10 each, totaling up to ₹132.00 Cr. The shares are being offered at a price of ₹114 to ₹120 each, with a minimum order quantity of 125 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Aasaan Loans IPO will open?

Aasaan Loans will open on June 19, 2024 for QIB, NII, and Retail Investors.

When Aasaan Loans IPO will end?

Aasaan Loans will end on June 21, 2024.

What is Aasaan Loans IPO Size?

Aasaan Loans IPO size is 132.00 Cr.

What is Aasaan Loans IPO Price Band?

Aasaan Loans price band is ₹114 to ₹120 per share.

What is the Aasaan Loans IPO Allotment Date?

Aasaan Loans allotment date is June 24, 2024.

What is the Aasaan Loans IPO Listing Date?

Aasaan Loans listing date is June 26, 2024. The IPO is to be listed on BSE and NSE.

How to Aasaan Loans IPO through Zerodha?

To apply for the IPO “Aasaan Loans” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Aasaan Loans IPO through Upstox?

To apply for the IPO “Aasaan Loans” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Aasaan Loans IPO Allotment Status?

For Aasaan Loans IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Aasaan Loans IPO GMP?

You can check out here: Aasaan Loans IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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