Akme Fintrade (India) made a muted debut on June 26 after listing at Rs 127, a premium of nearly 6 percent over the issue price of Rs 120 on NSE.
The Akme Finrade IPO is a book-built issue totaling Rs 132 crores, consisting entirely of a fresh issue of 1.1 crore shares.
The IPO bidding took place from June 19 to June 21, with allotment finalised on June 24. The shares were listed on the BSE and NSE.
The IPO of the non-banking finance company received 53.97 times subscription on the closing day of bidding on June 21.
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The Rs 132-crore initial share sale got bids for 42.44 crore shares against 78.65 lakh shares on offer, as per NSE data.
The portion for non-institutional investors garnered 129.53 times subscription while the category for retail individual investors (RIIs) got subscribed 43.67 times. The qualified institutional buyers (QIBs) part received 28.12 times the subscription.
The IPO price band is set at Rs 114 - Rs 120 per share.
Gretex Corporate Services Ltd is the book-running lead manager for the IPO, and Bigshare Services Pvt Ltd is the registrar of the issue.
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Akme Fintrade is a NBFC working in the industry since 1996. The company mainly deals in two-wheeler loans, four-wheeler loans, business loan, mortgage loans etc.
Currently, the company operates across four states - Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. The company has 9 physical branches and 23 digital points of presence.
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