Akme Fintrade India Ltd (Aasaan Loans)(MAINBOARD)
Jun 19, 2024 - Jun 21, 2024
| Price | ₹114 - ₹120 |
| Premium | ₹16 |
|---|---|
| Lot size | 125 |
| Allotment | Jun 24, 2024 |
| Listing | Jun 26, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 125 | 15000 | 31080 |
| sHNI | 14 | 1750 | 210000 | 314 |
| bHNI | 67 | 8375 | 1005000 | 628 |
Last Updated as on 21-Jun-2024 17:57:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 2090000 | 58762125 | 28.12 |
| HNIs | 1567500 | 203452875 | 129.79 |
| HNIs (10L+) | 1045000 | 127026875 | 121.56 |
| HNIs (2-10L) | 522500 | 76426000 | 146.27 |
| Retail | 3657500 | 161456250 | 44.14 |
| Employees | 550000 | 2953875 | 5.37 |
| Total | 7865000 | 426625125 | 54.24 |
| Category | Reserved | Applied | Times |
|---|---|---|---|
| Total Application : 1,207,239 | |||
| © IPO Premium | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹4.53 | @8% ₹5.18 | @9% ₹5.82 | @10% ₹6.47 | @11% ₹7.12 | @12% ₹7.77 |
| Big HNI (10L+) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10L+) costing for every 1 lot allotment is ₹48624 |
Aasaan Loans IPO Details
| Issue Size | 11,000,000 shares (aggregating up to ₹132.00 Cr) |
| Fresh Issue | 11,000,000 shares (aggregating up to ₹132.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Aasaan Loans IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Key Performance Indicator
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 5.64% | 7.72% | 3.01% |
| RONW | 5.81% | 9.25% | 3.09% |
| D/E | 0.91 | 0.88 | 1.70 |
| EPS (Diluted) | 3.87 | 5.85 | 1.68 |
Company Financials
Akme Fintrade India Ltd Financial Information (Restated)
Akme Fintrade India Ltd's revenue increased by 3.06% and profit after tax (PAT) rose by 283.5% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 417.96 | 390.50 | 374.01 | 455.40 |
| Revenue | 53.45 | 69.57 | 67.50 | 86.79 |
| Profit | 12.25 | 15.80 | 4.12 | 16.31 |
| Net Worth | 217.01 | 204.78 | 136.84 | 130.26 |
| Reserves | 185.34 | 173.11 | 115.03 | 108.45 |
| Borrowing | 195.19 | 177.76 | 230.06 | 317.82 |
| Amount in ₹ Crore | ||||
About Company
Incorporated in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) with over 20 years of experience in providing tailored lending solutions to rural and semi-urban populations in India. The company’s portfolio primarily includes Vehicle Finance and Business Finance Products designed for small business owners. Operating across four Indian states—Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat—Akme Fintrade has its registered office in Udaipur, Rajasthan, and a Corporate Office in Mumbai, Maharashtra. The company maintains 12 branches and over 25 points of presence, encompassing both digital and physical branches, and has served over 200,000 customers. Akme Fintrade finances the purchase of new two-wheelers and three-wheelers, such as scooters, motorcycles, and auto rickshaws, catering to both salaried professionals and self-employed non-professionals. As of December 31, 2023, the company employs 125 permanent staff members, with a strong focus on their overall welfare.
Strength Factors
Strong Rural Focus and Execution Capabilities: Akme Fintrade India Ltd has a proven track record of successful operations in rural and semi-urban areas, demonstrating strong execution capabilities tailored to these markets.
Established Lending Business: The Company has a well-established Vehicle Finance and small business lending portfolio, effectively serving the financial needs of small business owners and individual customers.
Experienced Management and Customer-Centric Approach: With a stable and experienced management team, the company maintains a customer-centric approach and deep understanding of its target customers, ensuring tailored financial solutions and strong customer relationships.
Risk Factors
Declining Revenue Trends: The Company has experienced a decline in revenue in Fiscal Year 2022, which could persist in the future, impacting overall financial performance and growth prospects.
Higher NPAs Compared to Peers: Akme Fintrade India Ltd has higher levels of Non-Performing Assets (NPAs) compared to some peer companies. Inability to manage or provide for these NPAs adequately could adversely affect the company's financial stability and operations.
Regulatory Compliance Concerns: Past instances of non-compliance with RBI norms/guidelines and potential violations of regulations prescribed by the RBI pose a risk. Such non-compliance could lead to penalties, restrictions, and reputational damage, affecting the company's operations and market standing.
Aasaan Loans IPO Lead Manager(s)
- Gretex Corporate Services Limited
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html