Schedule of Akme Fintrade India
| 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 |
Note: The 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 can be checked on the registrar's website and the exchange website.
About Akme Fintrade India
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 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.
The company operates in two principal lines of business, namely:
- Vehicle financing, comprising of Used Commercial Vehicle, 2 Wheeler Loans, Used 2 Wheeler Loans
- Business Finance to small business owners and SME/MSME business owners
Financials of Akme Fintrade India
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹132 crores |
| Fresh issue | ₹132 crores |
| Offer for sale |
– |
*All figures except EPS are in ₹ crores
Risks
- 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.