Akme Fintrade IPO listing tomorrow: Here’s what GMP, subscription status hint ahead of share debut

  • Akme Fintrade IPO listing date is tomorrow, with allotment finalised and share crediting today. Subscription status was 55.12 times, raising nearly 38 crore from anchor investors. Estimated listing price is 140 per share, 16.67% higher than IPO price.

Dhanya Nagasundaram
First Published25 Jun 2024, 02:06 PM IST
Akme Fintrade IPO listing date has been scheduled for tomorrow (Wednesday, June 26).
Akme Fintrade IPO listing date has been scheduled for tomorrow (Wednesday, June 26). (https://aasaanloans.com/)

Akme Fintrade IPO listing date has been scheduled for tomorrow (Wednesday, June 26). Akme Fintrade IPO allotment was finalised yesterday (Monday, June 24). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Tuesday, June 25. Today will also see the completion of the share refund procedure for those who have not yet received them.

According to BSE data, the Akme Fintrade IPO subscription status on the third day of bidding was 55.12 times. The initial public offering (IPO) of Akme Fintrade (India) Ltd, a non-banking finance company (NBFC), had a subscription period that began on June 19 and finished on June 21.

Also Read: Akme Fintrade IPO allotment finalised today; latest GMP, step-by-step guide to check status

The Udaipur-based Akme Fintrade India's issue, with a price band of 114-120 apiece, raised nearly 38 crore from anchor investors. The primary focus of Akme Fintrade is offering loan solutions with an emphasis on rural and semi-urban areas to clients in Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. The organisation offers business finance solutions for small business owners in addition to automobile loans.

Let's check what does Akme Fintrade IPO GMP today signal ahead of listing.

Akme Fintrade IPO grey market premium is +20. This indicates Akme Fintrade share price were trading at a premium of 20 in the grey market, according to investorgain.com.

The Akme Fintrade IPO estimated listing price was suggested at 140 per share, which is 16.67% higher than the IPO price of 120, taking into account the top end of the IPO pricing band and the present premium in the grey market.

Also Read: Akme Fintrade IPO: From latest GMP to lot size, here are key things to know

Analysts at investorgain.com claim that the current GMP ( 20) is indicating a downward trend based on activity in the grey market during the last 13 sessions. Rs. 0 is the lowest GMP and Rs. 48 is the highest.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Akme Fintrade IPO details

Akme Fintrade IPO, which is worth 132 crore, completely comprises a fresh issue, and there is no offer-for-sale component.

The firm intends to use the net proceeds from the issue to increase the company's capital base in order to meet future capital requirements that are expected to occur as a consequence of business and asset expansion. Furthermore, a part of the revenues from the issuance will be utilised to cover issue-related expenditures.

Gretex Corporate Services Limited is the book-running lead manager for the Akme Fintrade IPO, while Bigshare Services Pvt Ltd is the registrar.

Also Read: Akme Fintrade India IPO: Here's what latest GMP indicates as focus shifts to allotment; How to check online?

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:25 Jun 2024, 02:06 PM IST
HomeMarketsAkme Fintrade IPO listing tomorrow: Here’s what GMP, subscription status hint ahead of share debut

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