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20 June 2024

Akiko Global Services Limited IPO

Akiko Global Services Limited is a channel partner for major banks and Non-Banking Financial Companies (NBFCs) in India, with six years of expertise and experience, working majorly in the distribution and sales of financial products such as credit cards and loans. They are using a Customer Relationship Management (“CRM”) system in their day-to-day operations. All leads undergo injection and monitoring within their CRM, developed by the Company. Their CRM is designed with features to protect customer information from any threat. The Money Fair IPO is a book-built issue of Rs 23.11 crores. The issue is entirely a fresh issue of 30.02 lakh shares.

The Money Fair IPO opens for subscription on June 25, 2024, and closes on June 27, 2024. The allotment for the Money Fair IPO is expected to be finalized on Monday, July 1, 2024. The Money Fair IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares. Fast Track Finsec Pvt Ltd is the book-running lead manager of The Money Fair IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for The Money Fair IPO is Nikunj Stock Brokers.

The Money Fair IPO Overview

Detail	Description
IPO Date	June 25, 2024 to June 27, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹73 to ₹77 per share
Lot Size	1600 Shares
Total Issue Size	3,001,600 shares (aggregating up to ₹23.11 Cr)
Fresh Issue	3,001,600 shares (aggregating up to ₹23.11 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre issue	7,768,000
Shareholding post issue	10,769,600
Market Maker portion	150,400 shares Nikunj Stock Brokers

The Money Fair IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Tuesday, June 25, 2024
IPO Close Date	Thursday, June 27, 2024
Basis of Allotment	Monday, July 1, 2024
Initiation of Refunds	Monday, July 1, 2024
Credit of Shares to Demat	Monday, July 1, 2024
Listing Date	Tuesday, July 2, 2024
Cut-off time for UPI mandate confirmation	5 PM on June 27, 2024

The Money Fair IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1600	₹123,200
Retail (Max)	1	1600	₹123,200
HNI (Min)	2	3,200	₹246,400

The Money Fair IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

The Money Fair IPO Promoter Holding

Share Holding Pre Issue	92.77%
Share Holding Post Issue	66.91%

The Money Fair IPO Anchor Investors Details

Bid Date	June 24, 2024
Shares Offered	854,400
Anchor Portion Size (In Cr.)	6.58
Anchor lock-in period end date for 50% shares (30 Days)	July 31, 2024
Anchor lock-in period end date for remaining shares (90 Days)	September 29, 2024

Company & Financials

Incorporated in June 2018, Akiko Global Services Limited partners with major banks and non-banking financial companies (NBFCs) in India. The company has six years of experience and specializes in distributing and selling financial products, such as credit cards and loans. The company specializes in helping banks and financial institutions in India sell credit cards and personal loans. The Money Fair, powered by Akiko Global Services Limited, is a technology platform that uses algorithms to gather and analyze data to assess creditworthiness. It provides insights for easy comparison of offers and aims to increase the chances of securing a loan or a card for customers.

Akiko Global Services Limited Financial Information

Period Ended	31 Jan 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,794.91	1,130.87	405.67	234.88
Revenue	2,609.76	3,958.97	1,353.31	610.78
Profit After Tax	321.48	453.26	77.85	22.98
Net Worth	1,403.37	578.40	123.14	45.29
Reserves and Surplus	626.57	574.40	121.14	43.29
Total Borrowing	122.05	95.89	26.13	49.62
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	32.44%
ROCE	29.23%
Debt/Equity	0.09
RoNW	22.91%
PAT Margin (%)	12.41

	Pre IPO	Post IPO
EPS (Rs)	5.83	3.58
P/E (x)	13.2	21.5

Objectives of The Money Fair IPO

The company intends to utilize the proceeds of the Issue to meet the following objectives: -

● Implementation of ERP Solution and TeleCRM.
● Mobile Application for financial product solutions.
● To meet working capital requirements.
● Enhancing visibility and awareness of the brands, including but not limited to "Akiko Global" or "Moneyfair.
● General Corporate Purpose.
● Issue Expenses.

The Money Fair IPO Review

The company is a channel partner for NBFCs and Banks. It posted growth in its top and bottom lines for the reported periods, but the sudden boost in the pre-IPO year raised eyebrows. Based on FY24 annualized super earnings, the issue appears aggressively priced. Well-informed investors may park moderate funds for the long term.

FAQs for The Money Fair IPO

What is The Money Fair IPO?

The Money Fair IPO is an NSE SME IPO. They are going to raise ₹23.11 Crores via IPO. The issue is priced at ₹73 to ₹77 per equity share. The IPO is to be listed on NSE.
When will The Money Fair IPO will open?

The IPO is to open on June 25, 2024 for QIB, NII, and Retail Investors.
What is The Money Fair IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is The Money Fair IPO Size?

The Money Fair IPO size is ₹23.11 crores.
What is The Money Fair IPO Price Band?

The Money Fair IPO Price Band is ₹73 to ₹77 per equity share.
What is The Money Fair IPO Minimum and Maximum Lot Size?

The IPO bid is 1600 shares with ₹123,200.
What is The Money Fair IPO Allotment Date?

The Money Fair IPO allotment date is July 1, 2024.
What is The Money Fair IPO Listing Date?

The Money Fair IPO listing date is July 2, 2024. The IPO to list on NSE SME.