Akme Fintrade India IPO

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19th – 21st Jun 2024
26 Jun 2024
₹114 – ₹120
125 shares (₹15000)
132cr

Schedule

Issue open date 19 Jun 2024
Issue close date 21 Jun 2024
UPI mandate deadline 21 Jun 2024 (5 PM)
Allotment finalization 24 Jun 2024
Refund initiation 25 Jun 2024
Share credit 25 Jun 2024
Listing date 26 Jun 2024
Mandate end date 06 Jul 2024
Lock-in end date for anchor investors (50%) 23 Jul 2024
Lock-in end date for anchor investors (remaining) 21 Sep 2024

About

Incorporated in 1996, Akme Fintrade India (www.aasaanloans.com) is an NBFC with over two decades of lending experience in rural and semi-urban geographies in India.

The company operates in two principal lines of business, namely:
1. Vehicle financing, comprising of Used Commercial Vehicle, 2 Wheeler Loans, Used 2 Wheeler Loans
2. Business Finance to small business owners and SME/MSME business owners

The company primarily caters to rural and semi-urban geographies in 4 Indian states (Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat) with 12 branches and over 25 points of presence including digital and physical branches having served over 2,00,000 customers to date.

Funds Raised in the IPO Amount
Overall ₹132 crores
Fresh Issue ₹132 crores
Offer for sale Nil

Financial Snapshot

Financial Year Ended

March 2021

March 2022

March 2023

Dec 2023

Total Assets

455.40

374.01

390.50

417.96

Revenue

86.79

67.50

69.57

53.45

Profit After Tax

16.31

4.12

15.80

12.25

EPS

6.68

1.68

5.85

3.87

*All figures except EPS are in ₹ Crores

Risk factors

  • Elevated NPAs compared to industry peers: The company exhibits higher levels of Non-Performing Assets (NPAs) in comparison to some of its peer firms. Consequently, our business could face adverse effects if we are unable to adequately account for these elevated NPA levels.
  • Compliance concerns: The company has previously failed to adhere to specific Reserve Bank of India (RBI) norms and guidelines. Any non-compliance with RBI regulations and guidelines, as well as violations of prescribed regulations, could subject the company to penalties and restrictions.
  • Geographical concentration risk: The company’s business operations are heavily concentrated in the state of Rajasthan. Any challenges in expanding their business or exploring new opportunities in different regions and markets could potentially have a negative impact on their financial performance.

Note:

  • The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
  • The allotment status will be available by June 25, 2024, on the Registrar’s website.