Akme Fintrade (India) Ltd, a non-banking finance company, announced on Tuesday that it has secured nearly Rs 38 crore from anchor investors, just a day before its IPO opens to the public. According to a BSE circular, the shares have been allocated to investors including 3 Sigma Global Fund, Zeal Global Opportunities Fund, SB Opportunities Fund 1, and Vikasa India EIF Fund 1.
The Udaipur-based company allotted 31.35 lakh shares to these anchor investors at a price of Rs 120 each, totalling Rs 37.62 crore.
The IPO aims to raise Rs 132 crore and includes a fresh issue of 1.1 crore shares, with the price set between Rs 114 and Rs 120 per share. The public offering will be open for subscription from June 19 to June 21.
Akme Fintrade focuses on providing lending solutions in rural and semi-urban areas across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. Their loan products include vehicle finance and business loans for small business owners.
Gretex Corporate Services Ltd is managing the issue, and Akme Fintrade’s shares will be listed on both the BSE and NSE.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
