Akme Fintrade IPO listing date today. GMP, experts signal positive debut of shares

Akme Fintrade IPO: The listing date for the initial public offering of Akme Fintrade (India) Limited has been fixed on 26th June 2024, i.e. today. According to the BSE notice, effective from Wednesday, June 26, 2024, the equity shares of Akme Fintrade (India) shall be listed and admitted to dealings on the Indian exchanges in the 'T' group of securities list. So, one won't be able to buy and sell Akme Fintrade shares on the same date post-listing as the stock would be listed in the trade-to-trade category. However, Akme Fintrade shares will become available for investors on BSE and NSE from 10:00 AM during Wednesday deals. The Akme Fintrade IPO was oversubscribed in all categories, and the stock market mood is also upbeat, indicating a positive debut for Akme Fintrade shares. As per the market observers, Akme Fintrade shares are available at a premium of ₹17 in the grey market today.

Akme Fintrade IPO listing price prediction

According to VLA Ambala, a SEBI-registered Research Analyst and founder of Stock Market Today, the oversubscription of the Akme Fintrade (India) Ltd. IPO in all categories, with a final day oversubscription of 53.78 times as of June 21, is a strong indicator of its potential. To put this in perspective, the retail portion was subscribed 43.35 times, the NII portion 129.34 times, and the qualified institutional buyer's portion 28.12 times. This level of oversubscription is significantly higher than the average for IPOs in the past year, suggesting a strong investor interest in Akme Fintrade. This could potentially lead to a higher listing price than the price band of ₹120.

On the other hand, Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, offers a more optimistic view, predicting a robust debut for Akme Fintrade shares. He highlights the company's 20 years of experience in lending to rural and semi-urban areas in India and the aggressive pricing of the issue based on the FY24 earnings. He expects a listing at around ₹170 to ₹180 per share, which could result in a listing gain of around 40 percent, a prospect that should excite potential investors.

Akme Fintrade IPO GMP today

According to market observers, the Akme Fintrade IPO grey market premium (GMP) today is ₹17. The grey market premium is the difference between the IPO's issue price and the price at which it is trading in the grey market. A positive GMP indicates that the market expects the IPO listing price to be higher than the issue price. In this case, the GMP suggests that the Akme Fintrade IPO listing price will be around ₹137 ( ₹120 + ₹17).

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