Akme Fintrade India Ltd IPO Subscribed 4.28x on Day 2

Akme Fintrade India Ltd IPO (Aasaan Loans IPO) witnessed an increased interest from investors. Aasaan Loans IPO offers 1,10,00,000 shares. 20,90,000 (19.00%) to QIB, 15,67,500 (14.25%) to NII, 36,57,500 (33.25%) to RII, 5,50,000 (5.00%) to employees and 31,35,000 (28.50%) to Anchor investors. 29,260 RIIs will receive a minimum of 125 shares, and 298 (sNII) and 597 (bNII) will receive a minimum of 1,750 shares.

Aasaan Loans IPO price band has been set at ₹114 to ₹120 per share. The minimum lot size for an application is 125 Shares.

Day Wise Subscription

On the 2nd day of subscription, i.e., June 20, 2024, the IPO was subscribed to 4.28x. QIBs subscribed 0.16x, NIIs 7.53x, and retail investors subscribed 5.83x.

Grey Market Premium

Aasaan Loans IPO last GMP is ₹48. With a price band of ₹120.00, the estimated listing price of the Aasaan Loans IPO is ₹168 (cap price + today’s GMP). The expected percentage gain/loss per share is 40.00%.

About Akme Fintrade India Ltd

Akme Fintrade India Ltd. (AFIL) is a non-banking finance company (NBFC) incorporated in 1996 and registered with the Reserve Bank of India as a non-systemically important non-deposit-taking company with over two decades of lending experience in rural and semi-urban geographies in India. It is primarily engaged in rural and semi-urban-centric lending solutions to meet the needs and aspirations of the rural and semi-urban populace. The company’s portfolio includes Vehicle Finance and Business Finance Products for small business owners.

As a preliminary measure, it has launched the website aasaanloans.com. This distinct approach facilitates the identification of businesses with low risk and high potential, thereby offering opportunities to individuals who previously lacked access to both short-term and long-term financing options.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.