Aasaan Loans IPO opens for subscription on June 19, 2024 and closes on June 21, 2024. The allotment for the Aasaan Loans IPO is expected to be finalized on Monday, June 24, 2024. Aasaan Loans IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, June 26, 2024.
IPO Size: 11,000,000 shares (132.00 Cr) Fresh Issue: 11,000,000 shares (132.00 Cr) Subscription Dates: June 19, 2024 to June 21, 2024 Expected Allotment: Monday, June 24, 2024 Listing Date (Tentative): June 26, 2024 Price Band: ₹114 to ₹120 per share Retail Investors: ₹.15,000 (125 shares) Small HNI : ₹.210,000(14 lots, 1750 shares) Big HNI : ₹.1,005,000(67 lots, 8375 shares)
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | June 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹114 to ₹120 per share |
| Lot Size | 125 Shares |
| Total Issue Size | 11,000,000 shares (aggregating up to ₹132.00 Cr) |
| Fresh Issue | 11,000,000 (aggregating up to ₹132.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 3,135,000 (28.50%) |
| QIB Shares Offered | 2,090,000 (19%) |
| NII (HNI) Shares Offered | 1,567,500 (14.25%) |
| bNII > Rs.10L | 1,045,000 (9.50%) |
| sNII < Rs.10L | 522,500 (4.75%) |
| Retail Shares Offered | 3,657,500 (33.25%) |
| Employees Shares Offered | 550,000 (5%) |
| Total Shares Offered | 11,000,000 (100%) |
The Akme Fintrade India Ltd IPO (Aasaan Loans IPO) achieved a subscription rate of times The retail category subscribed times, the QIB category subscribed times, and the NII category subscribed times. Review the subscription details on a day-to-day basis (live status).
| Investor Category | Shares Offered | Shares Bid for | Total Amount (Rs Cr.)* | Subscription (times) |
|---|---|---|---|---|
| Qualified Institutions | 2,090,000 | |||
| Non-Institutional Buyers | 1,567,500 | |||
| bNII (bids above ₹10L) | 1,045,000 | |||
| sNII (bids below ₹10L) | 522,500 | |||
| Retail Investors | 3,657,500 | |||
| Employees | 550,000 | |||
| Others | ||||
| Total** | 7,865,000 | 0 | 0.00 | 0.00 |
Akme Fintrade India Ltd IPO (Aasaan Loans IPO) raises ₹ crore from anchor investors. Akme Fintrade India Ltd IPO (Aasaan Loans IPO) Anchor bid date is June 18, 2024. Akme Fintrade India Ltd IPO (Aasaan Loans IPO) Anchor Investors list
| Bid Date | June 18, 2024 |
| Shares Offered | 3135000 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 22, 2024 |
Akme Fintrade India Ltd IPO (Aasaan Loans IPO) opens on June 19, 2024 and closes on June 21, 2024.
| IPO Open Date | Wednesday, June 19, 2024 |
| IPO Close Date | Friday, June 21, 2024 |
| Basis of Allotment* | Monday, June 24, 2024 |
| Initiation of Refunds* | Tuesday, June 25, 2024 |
| Credit of Shares to Demat* | Tuesday, June 25, 2024 |
| Listing Date* | Wednesday, June 26, 2024 |
| Cut-off time for UPI mandate confirmation | 05:00 pm, June 21, 2024 |
Investors can bid for a minimum of 125 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹ 15,000 |
| Retail (Max) | 13 | 1625 | ₹ 195,000 |
| S-HNI (Min) | 14 | 1750 | ₹ 210,000 |
| S-HNI (Max) | 66 | 8250 | ₹ 990,000 |
| B-HNI (Min) | 67 | 8375 | ₹ 1,005,000 |
The promoters of the company are Nirmal Kumar Jain, Manju Devi Jain, Dipesh Jain and Nirmal Kumar Jain HUF.
| Share Holding Pre Issue | 56.01% |
Incorporated in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) with over 20 years of experience in lending to rural and semi-urban areas in India.
The company mainly provides lending solutions tailored to the needs and aspirations of rural and semi-urban populations. Its portfolio comprises Vehicle Finance and Business Finance Products for small business owners.
The company operates in rural and semi-urban areas across four Indian states - Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. It has a registered office in Udaipur, Rajasthan, and a Corporate Office in Mumbai, Maharashtra. With 12 branches and over 25 points of presence, including digital and physical branches, it has served over 200,000 customers.
The company finances the purchase of new two-wheelers and three-wheelers, such as scooters, motorcycles, and auto rickshaws, for salaried professionals and self-employed non-professionals.
The company has 125 permanent employees as of December 31, 2023, and prioritizes their overall welfare.
The company proposes to utilize the Net Proceeds from the Issue towards augmenting the capital base of the company to fulfil its future capital requirements, which are anticipated to arise as a result of the expansion of the business and assets. Further, a portion of the proceeds from the Issue will be used towards meeting Issue-related expenses.
Akme Fintrade India Ltd
AKME Business Centre (ABC),
4-5 Subcity Centre, Savina Circle opp
Krishi Upaz Mandi Udaipur,- 313002
Phone: +91- 294-2489501
Email: cs@aasaanloans.com
Website: https://aasaanloans.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
| Listing Date | June 26, 2024 |
| Final Issue Price | ₹ 120 per share |
| Price Details | NSE | BSE |
|---|---|---|
| Final Issue Price | ₹ 120 | ₹ 120 |
Akme Fintrade India Ltd IPO (Aasaan Loans IPO) is a main-board IPO of 11,000,000 equity shares of the face value of ₹ 10 aggregating up to ₹ 132 Crores. The issue is priced at ₹114 to ₹120 per share. The minimum order quantity is 125 Shares.
The Akme Fintrade India Ltd IPO (Aasaan Loans IPO) opens on June 19, 2024 and closes on June 21, 2024.
Retail Investors: ₹.15,000 (125 shares) Small HNI : ₹.210,000(14 lots, 1750 shares) Big HNI : ₹.1,005,000(67 lots, 8375 shares)
The finalization of Basis of Allotment for Akme Fintrade India Ltd IPO (Aasaan Loans IPO) will be done on Monday, June 24, 2024, and the allotted shares will be credited to your demat account by Tuesday, June 25, 2024. Check the Akme Fintrade India Ltd IPO (Aasaan Loans IPO) allotment status.