Akme Fintrade India's IPO to raise ₹132 cr, begins June 19
The non-bank financial company raised about ₹38 crore from anchor investors just before the IPO.
image for illustrative purpose
Akme Fintrade India Ltd. is starting its initial share sale on Wednesday, June 19, and it will end on June 21.
The non-bank financial company raised about ₹38 crore from anchor investors just before the IPO.
According to information from a BSE circular, shares were allocated to investors such as 3 Sigma Global Fund, Zeal Global Opportunities Fund, SB Opportunities Fund 1, and Vikasa India EIF Fund 1.
On Wednesday, the company's shares were trading at a ₹40 premium in the grey market.
The IPO price is set between ₹114-120 per share, and investors can bid for at least 125 shares.
At the highest price, the company hopes to raise ₹132 crore. The IPO includes selling 1.10 crore shares, each with a face value of ₹10.
Half of the shares are for qualified institutional buyers, 35% are for retail investors, and 15% are for non-institutional investors.
Akme Fintrade India Limited, founded in 1996 and overseen by the Reserve Bank of India, focuses on providing financial services to rural and semi-urban areas across India.
They specialize in offering loans for vehicles and businesses to small business owners and SMEs.
