Akiko Global Services IPO (The Money Fair IPO) Review

 
The Money Fair IPO Review

IPO Open Date: June 25, 2024

IPO Close Date: June 27, 2024

IPO Price: ₹73 to ₹77 per share

Lot Size: 1600 Shares

Listing: July 02, 2024

The Money Fair is scheduled to hit the market on June 25, 2024 and close on June 27, 2024. The Money Fair plans to raise around ₹23.11 Cr through an IPO with a sale of up to 3,001,600 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Akiko Global Services Limited, established in June 2018, collaborates with leading banks and non-banking financial companies in India. With six years of experience, the company specializes in the distribution and sale of financial products, focusing on credit cards and loans. They assist financial institutions in India in marketing credit cards and personal loans to customers effectively.

One of their notable ventures is The Money Fair, a tech platform operated by Akiko Global Services Limited. Through advanced algorithms, this platform collects and analyzes data to evaluate creditworthiness, offering insights for easy comparison of financial offers. The primary goal is to enhance customers' chances of successfully obtaining a loan or a credit card through informed decision-making. As of April 30, 2024, the company has a workforce of 418 permanent employees, including directors and key managerial personnel.

Akiko Global Services



The Money Fair IPO Details

The Money Fair IPO opens on June 25, 2024, and closes on June 27, 2024. The Listing date for The Money Fair IPO is on July 02, 2024. The price band for IPO is ₹73 to ₹77 per share and lot size of 1600 Shares.

IPO DateJune 25, 2024 to June 27, 2024
Listing DateJuly 02, 2024
Price₹73 to ₹77 per share
Lot Size1600 Shares
Issue Size₹23.11 Cr
Face Value₹10 per share

The Money Fair IPO Tentative Timetable

The Money Fair opening date is June 25, 2024 and close date is June 27, 2024. The IPO allotment date is July 01, 2024. The refund initiation of IPO is on July 01, 2024. The credit of shares in demat account is on July 01, 2024. The listing date is on July 02, 2024.

EventDate
IPO OpeningJune 25, 2024
IPO ClosingJune 27, 2024
IPO Allotment DateJuly 01, 2024
Refund InitiationJuly 01, 2024
Shares Credit to DematJuly 01, 2024
Lisiting DateJuly 02, 2024

The Money Fair IPO Lot Size

Lot Size of this IPO is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹123,200).

CategoryLotsSharesAmount
Retail(Minimum)11600₹123,200
Retail(Maximum)11600₹123,200
HNI (Minimum)23200₹246,400

The Money Fair IPO Promoter Holding

Pre Issue Share Holding92.77%
Post Issue Share Holding66.91%

The Money Fair IPO Review

AGSL has shown significant growth in its financial performance over the past few years. For FY21, the company reported a total income of Rs. 6.11 crore and a net profit of Rs. 0.23 crore. In FY22, revenue increased to Rs. 13.53 crore with a net profit of Rs. 0.78 crore. In FY23, revenue further grew to Rs. 39.59 crore with a net profit of Rs. 4.53 crore. For the ten months ending January 31, 2024, AGSL achieved a net profit of Rs. 3.22 crore on a total income of Rs. 26.10 crore. The substantial growth in revenue and profitability in the pre-IPO years raises questions about the sustainability of this trend. For the last three fiscals, AGSL reported an average EPS of Rs. 7.40 and an average RoNW of 68.71%. The issue is priced at a P/BV of 3.75 based on its NAV of Rs. 20.52 as of January 31, 2024. The post-IPO NAV data is not provided, but the IPO is priced at a P/E of 21.51 based on annualized FY24 earnings, indicating aggressive pricing.

AGSL’s IPO aims to raise Rs. 23.11 crore by issuing 3,001,600 equity shares at a price band of Rs. 73 – Rs. 77 per share. The proceeds will be used for implementing ERP solutions and TeleCRM (Rs. 1.70 crore), developing a mobile application (Rs. 2.80 crore), working capital (Rs. 11.39 crore), enhancing visibility for Akiko Global and Moneyfair (Rs. 2.00 crore), and general corporate purposes. Post-IPO, the company’s paid-up equity capital will increase from Rs. 7.77 crore to Rs. 10.77 crore, targeting a market capitalization of Rs. 82.93 crore at the upper price band. The issue constitutes 27.87% of the post-IPO paid-up capital. The IPO is managed by Fast Track Finsec Pvt. Ltd., with Skyline Financial Services Pvt. Ltd. as the registrar. Nikunj Stock Brokers Ltd. is the market maker for the company. Fast Track Finsec has a track record of successful IPOs with significant listing premiums, enhancing the attractiveness of this offering.

Akiko Global Services Ltd. has demonstrated strong growth in revenue and profitability, particularly in the pre-IPO years. However, the sudden boost in financial performance raises concerns about the sustainability of such growth. The IPO appears aggressively priced based on FY24 annualized earnings. Given the company’s significant growth and robust business model, well-informed investors with a long-term investment horizon might find it worthwhile to consider a moderate investment in AGSL’s IPO. The company’s strong market position as a channel partner for major banks and NBFCs, combined with its comprehensive CRM system and compliance-driven operations, supports its growth potential. However, due to the aggressive pricing and high valuation, investors should approach with caution and consider the potential risks before making an investment decision.

The Money Fair IPO Subscription Status (Bidding Details)

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The Money Fair 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

The Money Fair IPO FAQs

What is The Money Fair IPO?

The Money Fair is issuing 3,001,600 equity shares with a face value of ₹10 each, totaling up to ₹23.11 Cr. The shares are being offered at a price of ₹73 to ₹77 each, with a minimum order quantity of 1600 shares.

Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When The Money Fair IPO will open?

The Money Fair will open on June 25, 2024 for QIB, NII, and Retail Investors.

When The Money Fair IPO will end?

The Money Fair will end on June 27, 2024.

What is The Money Fair IPO Size?

The Money Fair IPO size is 23.11 Cr.

What is The Money Fair IPO Price Band?

The Money Fair price band is ₹73 to ₹77 per share.

What is the The Money Fair IPO Allotment Date?

The Money Fair allotment date is July 01, 2024.

What is the The Money Fair IPO Listing Date?

The Money Fair listing date is July 02, 2024. The IPO is to be listed on BSE and NSE.

How to The Money Fair IPO through Zerodha?

To apply for the IPO “The Money Fair” 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 The Money Fair IPO through Upstox?

To apply for the IPO “The Money Fair” 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 The Money Fair IPO Allotment Status?

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

What is The Money Fair IPO GMP?

You can check out here: The Money Fair 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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