Akme Fintrade, a non-banking finance company (NBFC), saw strong investor interest for its IPO, which closed last week. The IPO was oversubscribed just over 53 times. The company is expected to finalise the share allotment on Monday.
How to Check Allotment Status
On BSE Website
- Visit the BSE Allotment Status Page: BSE Allotment Status
- Select the Issue Name: Choose “Akme Fintrade IPO” from the dropdown menu.
- Enter Application or PAN Number: Provide your application number or PAN to check the status.
On Registrar Website (Bigshare Services)
- Visit Bigshare Services Allotment Status Page: Bigshare Allotment Status
- Select the IPO: Choose “Akme Fintrade IPO.”
- Enter PAN Details: Provide your PAN details and click search to see the status.
Grey Market Premium (GMP)
Akme Fintrade shares are trading at a premium of ₹45 in the unlisted market. Compared to the IPO price of ₹120, this suggests a potential 47% gain on the listing day, scheduled for June 26.
Use of Funds
The IPO aims to strengthen Akme Fintrade’s capital base. As per RBI norms, NBFCs need a minimum capital adequacy of 15%. The company plans to grow its loan advances, which will require tier-1 capital to meet these requirements. The IPO proceeds will ensure sufficient capital in the short to medium term.
Company Background
Akme Fintrade focuses on providing lending solutions to rural and semi-urban areas. Its portfolio includes vehicle and business finance products for small business owners. The company has a strong track record in rural and semi-urban markets, achieving steady financial growth and efficient operations with high customer retention and low-cost expansion into under-served areas.
Financial Performance
In FY23, Akme Fintrade’s revenue grew to ₹69.51 crore from ₹67.44 crore in the previous year. Profit after tax increased significantly to ₹15.80 crore, up from ₹4.12 crore the previous year.
Gretex Corporate Services is the lead manager for this public offer.
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