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

  • Akme Fintrade India IPO: The mainboard IPO attracted massive interest and was subscribed 55.12 times on the last day of bidding.

Nikita Prasad
Published22 Jun 2024, 09:32 PM IST
Akme Fintrade India IPO had a price band of  <span class='webrupee'>₹</span>114-120 per share and bidding closed on Friday
Akme Fintrade India IPO had a price band of ₹114-120 per share and bidding closed on Friday(https://aasaanloans.com/)

Akme Fintrade India IPO: The initial public offering (IPO) of Akme Fintrade (India) Ltd received an overwhelming response from investors during its recent three-day subscription period. The mainboard IPO of the non-banking finance company (NBFC) opened for subscription on started from Wednesday, June 19, 2024 and was oversubscribed when it closed on Friday, June 21, 2024.

The focus of investors has now shifted to the allotment, as it is expected to be finalized on Monday, June 24, 2024. Akme Fintrade IPO was subscribed over 55.12 times subscription on the third day of bidding. The initial share sale received bids for 43,35,52,375 shares against 78,65,000 shares on the offer.
 

Also Read: Akme Fintrade IPO closes today: Issue oversubscribed by 55.12x. Check GMP, subscription status. Should you apply?

Akme Fintrade India IPO details

Akme Fintrade IPO, which is worth 132 crore comprises a fresh issue without any offer-for-sale (OFS) component. The price band was established between 114 and 120 per face value of 10 each. The Akme Fintrade IPO lot size is 125 equity shares, with subsequent lots being multiples of 125 equity shares.

The Akme Fintrade IPO had allocated 50 per cent of the shares to qualified institutional buyers (QIB), 15 per cent to non-institutional institutional investors (NII), and 35 per cent to retail investors. The employees' segment has been reserved 5,50,000 equity shares.

The firm intends to use the net proceeds from the issue to increase the capital base 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. The promoters of the company are Nirmal Kumar Jain, Manju Devi Jain, Dipesh Jain and Nirmal Kumar Jain HUF.
 

Akme Fintrade India IPO GMP

Akme Fintrade IPO grey market premium is +30. This indicates Akme Fintrade share price were trading at a premium of 30 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Akme Fintrade IPO expected listing price was indicated at 150 apiece, which is 25 per cent higher than the IPO price of 120. 'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Akme Fintrade IPO: 10 key risks investors should know before subscribing to the 132- crore issue

If you have applied for the Akme Fintrade India IPO, you can check your Akme Fintrade India IPO allotment status on the website of the IPO registrar, Bigshare Services Pvt Ltd. When the allotment if finalised on Monday, you can check the Akme Fintrade India IPO allotment status of your application on the allotment link - https://ipo.bigshareonline.com/ipo_status.html
 

How to check Akme Fintrade India IPO allotment status on Bigshare Services:

1.Log on to Akme Fintrade India IPO allotment page

2.Select IPO Name ‘Akme Fintrade India‘ from the drop-down menu bar

3.Select option from PAN number or application number

4.As per selection add PAN number, application number, or demat account number

5.Click on the ‘Search’ button

6.You will be able to see your Akme Fintrade India IPO allotment status on the screen.
 

How to check Akme Fintrade India IPO allotment status on BSE?

Step 1: Log on to the BSE Link to check the status of your application.

https://www.bseindia.com/investors/appli_check.aspx

Step 2: Find "Equity," select it, and then choose the issue name from the dropdown menu.

Step 3: Investors must provide their PAN card number or application number after choosing the issue name.

After that, press the "Search" button.

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First Published:22 Jun 2024, 09:32 PM IST
HomeMarketsIPOAkme Fintrade India IPO: Here’s what latest GMP indicates as focus shifts to allotment; How to check online?

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