Akme Fintrade IPO GMP Today (Last Day) as it Opens for Subscription

Akme Fintrade India Ltd (Aasan Loans) has launched its Initial Public Offering (IPO) today, June 19, 2024. The IPO is scheduled to close on June 21, 2024. This non-banking finance company, which focuses on lending in rural and semi-urban areas, is offering up to 11,000,000 equity shares at a price band of INR 114 to INR 120 per share. The total issue size is expected to raise between INR 125.40 crore to INR 132 crore. Checkout the Akme Fintrade IPO GMP Today in this short read.

Akme Fintrade is a well-established firm with over two decades of experience, primarily providing vehicle and business finance products to small business owners in Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. The proceeds from the IPO will be used to augment the company's capital base, supporting its growth and expansion plans.

The IPO details include:

• Minimum bid (lot size): 125 shares, requiring a minimum investment of INR 15,000.

• Retail Allocation: 35% of the issue is reserved for retail investors.

• Listing: The shares will be listed on both NSE and BSE.

• AFIL IPO GMP Today: ₹45 as of 20 June, 9:37 am.

• Share Price: ₹114-₹120 

The financial performance of Akme Fintrade shows a total credit exposure of INR 379.46 crore as of December 31, 2023, with a significant portion (79.23%) allocated to SME/business loans. The company has shown consistent revenue growth and aims to further strengthen its market presence through this IPO.

Akme Fintrade IPO GMP Today:-

The Grey Market Premium (GMP) for Akme Fintrade IPO is currently ₹48 per share. This indicates a positive market sentiment, with investors willing to pay a premium over the issue price on its opening day​. On day 1, it was subscribed 3.01 times with retail investors subscribing 4.18 times. Yesterday, on day 2, AFIL IPO was subscribed 4.28 times (5.83X by retail investors) indicating a good response.

Key dates to remember for the IPO:

• Issue opens: June 19, 2024

• Issue closes: June 21, 2024

• IPO Allotment: June 24, 2024

• Shares Credited: June 25, 2024

• Listing date: June 26, 2024

AFIL aka Aasan Loans IPO GMP Today is on the positive side, but we need to wait a day or 2 to get a clear indication on whether to apply or not.