Aasaan Loans also known as Akme Fintrade has announced the dates for its IPO, which will open for subscription on Wednesday (June 19, 2024), and close on Friday (June 21, 2024).
Akme Fintrade aims to raise approximately Rs 132 crores through this IPO, consisting of a fresh issue worth Rs 132 crores and with a face value of Rs 10 per equity share.
The IPO price band is set between Rs 114 to Rs 120 per share. Investors can look forward to the shares being listed on both the BSE and NSE.
The allocation for retail investors is 35%, while Qualified Institutional Buyers (QIB) will have 50%, and High Net Worth Individuals (HNI) will have 15%.
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About Akme Fintrade IPO
Akme Fintrade, established in 1996, is a non-banking finance company (NBFC) registered with the Reserve Bank of India. It operates as a non-systemically important, non-deposit-taking company.
With over two decades of experience, Akme Fintrade focuses on providing lending solutions to meet the needs and aspirations of people in rural and semi-urban areas across India.
Aasaan Loans offers a range of products including Vehicle Finance and Business Finance specifically for small business owners. They have a strong history of serving rural and semi-urban markets with significant growth potential.
According to Reuters, the company generated a revenue of Rs 86.17 crore in FY 2021, which decreased to Rs 67.44 crore in FY 2022, before slightly recovering to Rs 69.51 crore in FY 2023.
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For the first nine months of FY 2024, revenue stood at Rs 53.41 crores. Despite fluctuations in revenue, the company’s expenses decreased from Rs 67.59 crore in FY 2021 to Rs 38.29 crore in the first nine months of FY 2024.
This expense management has positively impacted net income, which was Rs 16.31 crores in FY 2021, dipped to Rs 4.12 crores in FY 2022, and then rose again to Rs 15.80 crores in FY 2023, with Rs 12.25 crores recorded in the first nine months of FY 2024.
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As a result, profit margins increased from 18.93% in FY 2021 to 22.94% in the first nine months of FY 2024, indicating increased operational effectiveness and profitability.
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Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before making any investment decision.
