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aasaan loans ipo

Akme Fintrade India (Aasaan Loans) IPO

  • Status: Closed
  • RHP:
  • ₹ 14,250 / 125 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    26 Jun 2024

  • Listing Price

    ₹125.70

  • Listing Change

    4.75%

  • Last Traded Price

    ₹94.28

IPO Details

  • Open Date

    19 Jun 2024

  • Close Date

    21 Jun 2024

  • IPO Price Range

    ₹ 114 to ₹ 120

  • IPO Size

    ₹ 132 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    26 Jun 2024

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IPO Timeline

Akme Fintrade India (Aasaan Loans) IPO Subscription Status

Last Updated: 24 June 2024 12:05 PM by 5Paisa

Last Updated: 21st June 2024, 05:50 PM by 5paisa

Akme Fintrade IPO is set to open from 19th June to 21st June 2024. The company is a non-banking finance company (NBFC). The IPO includes a fresh issue of 11,000,000 shares worth ₹132 cr. The share allotment date is 24th June 2024, and the IPO will be listed on 26th June 2024 on the stock exchanges. The price band is set at ₹114 to ₹120 and the lot size is 125 shares. 

Gretex Corporate Services Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar. 

Objectives of Aasaan Loans IPO

●    Augment the capital base of the Company.
●    To meet issue expenses. 
 

Aasaan Loans IPO Video

 

Aasaan Loans IPO Size

Types Size (₹Cr)
Total IPO size 132.00
Offer for sale -
Fresh issue 132.00

Aasaan Loans IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 125 ₹15,000
Retail (Max) 13 1625 ₹195,000
S-HNI (Min) 14 1,750 ₹210,000
S-HNI (Max) 66 8,250 ₹990,000
B-HNI (Min) 67 8,375 ₹1,005,000

Aasaan Loans IPO Anchor Allocation

Anchor Bid Date 18 June, 2024
Total no. of shares offered 3,135,000
Portion Size for Anchor Investors 37.62 Cr.
Lock in Period for 50% shares (30 days) 24 July, 2024
Lock in Period for rest of shares (90 days) 22 September, 2024

Established in 1996, Akme Fintrade Limited is a non-banking finance company (NBFC). The company offers Vehicle Finance and Business Finance Products for small business owners in rural and semi-urban areas via its lending platform www.aasaanloans.com.

The company has a presence in  Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. To date, it has 12 branches and over 25 points of presence (digital and physical branches with  2,00,000+ customers. It has two business verticals:

●    Vehicle financing, comprising of Used Commercial Vehicle, 2 Wheeler Loans, Used 2 Wheeler Loans
●    Business Finance to small business owners and SME/MSME business owners. 

Peer Comparison

●    MAS Financial Services Ltd Limited
●    Shriram Finance Limited
●    Cholamandalam Investment And Finance Company Limited
●    Arman Financial Service Limited
●    CSL Finance Limited

For More Information:
Webstory on Akme Fintrade (Aasaan Loans) IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 69.51 67.44 86.17
EBITDA 67.90 43.28 48.27
PAT 15.80 4.12 16.30
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 390.50 374.01 455.39
Share Capital 31.67 21.81 21.81
Total Borrowings 185.71 237.16 325.13
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 23.61 63.10 85.08
Net cash from / (used in) investing activities -14.96 1.59 2.62
Net cash flow from / (used in) financing activities -2.01 -74.55 -84.10
Net increase (decrease) in cash and cash equivalents 6.63 -9.85 3.60


Strengths

1.    The company has proven execution capabilities with a strong rural and semi-urban focus.
2.    It also has a well-established Vehicle Finance and small business lending business.
3.    The company has a customer-centric approach and a deep understanding of target customers.
4.    It also has access to Diversified Sources of Capital and Effective Asset Liability Management.
5.    The company follows a Robust underwriting process and risk management policies.
6.    The company operates on a Hub and Spoke business model that improves efficiencies and decreases costs.
7.    Experienced management team.
 

Risks

1.    The company has experienced a reduction in revenue in the past. 
2.    It has higher levels of NPAs as compared to some of its peer companies.
3.    A major part of revenue comes from the business Loans segment.
4.    It has reported negative cash flows in the past. 
5.    It operates in a highly competitive industry.
6.    Any failures to follow RBI norms can impact the business.  
 

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FAQs

Aasaan Loans IPO opens from 19th June to 21st June 2024.
 

The size of Aasaan Loans IPO is ₹132 cr. 
 

To apply for Aasaan Loans IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for Aasaan Loans IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The price band of Aasaan Loans IPO is set at ₹114 to ₹120 per share.
 

The minimum lot size of Aasaan Loans IPO is 125 shares and the minimum investment required to apply for the IPO is ₹14,250.
 

The share allotment date of Aasaan Loans IPO is 24th June 2024.
 

The Aasaan Loans IPO will be listed on 26th June 2024.
 

Gretex Corporate Services Limited is the book-running lead manager for Aasaan Loans IPO.
 

Aasaan Loans will use the proceedings from the public issue for: 

●    Augment the capital base of the Company.
●    To meet issue expenses.