• Source:PTI
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Akme Fintrade (India) Ltd IPO:  Shares of non-banking finance company Akme Fintrade (India) Ltd were subscribed 3 times over on the first day of bidding on Wednesday. NSE data showed that the Rs 132-crore IPO received bids for 2,36,47,500 shares against the 78,65,000 shares on offer. The share of non-institutional investors was subscribed 5.15 times, while the share of retail individual investors (RIIs) was subscribed 4.16 times. The Qualified Institutional Buyers (QIBs) category received a subscription of 2 percent.

The initial public offer (IPO) involves fresh issues of up to Rs 1.1 lakh crore equity shares. The price band of the offer is Rs 114-120 per share. Akme Fintrade (India) Ltd on Tuesday said it had raised nearly Rs 38 crore from anchor investors.

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Akme Fintrade primarily provides rural and semi-urban lending solutions to clients in four states - Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. The company's portfolio includes vehicle and business financing products for small business owners. Gretex Corporate Services is the lead book-running manager for this offering. The company's shares will be listed on the BSE and NSE stock exchanges.

Akme Fintrade IPO details 

Issue size - 132 crore

Lot Size - 125 Shares

Price range - Rs 114-120

Min Investment - Rs 14,250

Bidding Closing date - June 21, 2024

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