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18 June 2024

Akme Fintrade India Limited IPO

Akme Fintrade India Ltd aka Aasaan Loans is a non-banking finance company. Aasaan Loans portfolio includes Vehicle Finance and Business Finance Products for small business owners. They have a long history of serving rural and semi-urban markets with high growth potential and have maintained a track record of financial performance and operational efficiency through consistently high rates of customer acquisition and retention and low-cost expansion into underpenetrated areas. Aasaan Loans IPO is a book-built issue of Rs 132.00 crores.

The issue is entirely a fresh issue of 1.1 crore shares. Aasaan Loans IPO opens for subscription on June 19, 2024 and closes on June 21, 2024. The allotment for the Aasaan Loans IPO is expected to be finalized on Monday, June 24, 2024. Aasaan Loans IPO price band is set at ₹114 to ₹120 per share. The minimum lot size for an application is 125 Shares. Gretex Corporate Services Limited is the book-running lead manager of the Aasaan Loans IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Aasaan Loans IPO Overview

Detail	Description
IPO Date	June 19, 2024 to June 21, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹114 to ₹120 per share
Lot Size	125 Shares
Total Issue Size	11,000,000 shares (aggregating up to ₹132.00 Cr)
Fresh Issue	11,000,000 shares (aggregating up to ₹132.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE

Aasaan Loans IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Wednesday, June 19, 2024
IPO Close Date	Friday, June 21, 2024
Basis of Allotment	Monday, June 24, 2024
Initiation of Refunds	Tuesday, June 25, 2024
Credit of Shares to Demat	Tuesday, June 25, 2024
Listing Date	Wednesday, June 26, 2024
Cut-off time for UPI mandate confirmation	5 PM on June 21, 2024

Aasaan Loans IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	125	₹15,000
Retail (Max)	13	1625	₹195,000
S-HNI (Min)	14	1,750	₹210,000
S-HNI (Max)	66	8,250	₹990,000
B-HNI (Min)	67	8,375	₹1,005,000

Aasaan Loans 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

Aasaan Loans IPO Promoter Holding

Share Holding Pre Issue	56.01%
Share Holding Post Issue

Aasaan Loans IPO Anchor Investors Details

Bid Date	June 18, 2024
Shares Offered	3,135,000
Anchor Portion Size (In Cr.)	37.62
Anchor lock-in period end date for 50% shares (30 Days)	July 24, 2024
Anchor lock-in period end date for remaining shares (90 Days)	September 22, 2024

Company & Financials

Incorporated in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) with over 20 years of experience in lending to rural and semi-urban areas in India. The company mainly provides lending solutions tailored to the needs and aspirations of rural and semi-urban populations. Its portfolio comprises Vehicle Finance and Business Finance Products for small business owners. The company operates in rural and semi-urban areas across four Indian states - Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. It has a registered office in Udaipur, Rajasthan, and a Corporate Office in Mumbai, Maharashtra. With 12 branches and over 25 points of presence, including digital and physical branches, it has served over 200,000 customers. The company finances the purchase of new two-wheelers and three-wheelers, such as scooters, motorcycles, and auto rickshaws, for salaried professionals and self-employed non-professionals.

Akme Fintrade India Limited Financial Information

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	417.96	390.50	374.01	455.40
Revenue	53.45	69.57	67.50	86.79
Profit After Tax	12.25	15.80	4.12	16.31
Net Worth	217.01	204.78	136.84	130.26
Reserves and Surplus	185.34	173.11	115.03	108.45
Total Borrowing	195.19	177.76	230.06	317.82
Amount in ₹ Crore

Key Performance Indicator

KPI	Values
ROE	5.64%
Debt/Equity	2.49
RoNW	5.81%
PAT Margin (%)	22.93

	Pre IPO	Post IPO
EPS (Rs)	3.87

Objectives of Aasaan Loans IPO

The company proposes to utilize the Net Proceeds from the Issue towards augmenting the capital base of the company to fulfil its future capital requirements, which are anticipated to arise as a result of the expansion of the business and assets. Further, a portion of the proceeds from the Issue will be used towards meeting Issue-related expenses.

Aasaan Loans IPO Review

The company is operating in the financial services segment which is a highly competitive and fragmented one. It also has ever-changing regulatory norms. Based on FY24 annualized earnings, the issue is aggressively priced. There is no harm in skipping this price offer.

FAQs for Aasaan Loans IPO

What is Akme Fintrade IPO?

Akme Fintrade IPO is a main-board IPO. They are going to raise ₹132 Crores via IPO. The issue is priced at ₹114 to ₹120 per equity share. The IPO is to be listed on BSE & NSE.
When Akme Fintrade IPO will open?

The IPO is to open on June 19, 2024, for QIB, NII, and Retail Investors.
What is Akme Fintrade IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is Akme Fintrade's IPO Size?

Akme Fintrade's IPO size is ₹132 crores.
What is Akme Fintrade IPO Price Band?

Akme Fintrade IPO Price Band is ₹114 to ₹120.
What is the Akme Fintrade IPO Allotment Date?

Akme Fintrade's IPO allotment date is June 24, 2024.
What is the Akme Fintrade IPO Listing Date?

Akme Fintrade IPO listing date is June 26, 2024. The IPO is to list on BSE and NSE.