Akme Fintrade IPO: From latest GMP to lot size, here are key things to know

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₹132 crore initial public offering (IPO) on D-Street next week, with the subscription period running from June 19 to June 21. The company has set the price band for the issue at ₹114-120 per share.Also, the anchor investor bidding date had been set for Tuesday, June 18.Issue size: Akme Fintrade IPO is completely comprised a fresh issue of 1.1 crore shares.

There is no offer-for-sale component.Lot Size: The minimum lot size for an application is 125 shares and in multiples thereafter. The minimum amount of investment required by retail investors is ₹15,000.Objective: The proceeds from the IPO will be used to primarily bolster Akme Fintrade (India) Ltd's capital base, enabling it to support future business and asset expansion needs.

Additionally, a portion of the funds raised will be allocated toward covering expenses related to the issuance.Reservation: In the Akme Fintrade IPO, 50% of the shares are reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors. Additionally, 5,50,000 equity shares have been set aside for employees participating in the offering.Floor Price: The floor price of the Akme Fintrade IPO is set at 11.40 times the face value, while the cap price stands at 12 times the face value.

At the floor price, the price-to-earnings ratio (P/E) is 19.49 times, and at the cap price, it is 20.51 times.About the firm: The NBFC is registered with the RBI as a non-systemically important non-deposit taking firm and has over two decades of lending expertise in rural and semi-urban areas of India. The company's primary focus is on financing solutions for rural and semi-urban populations in order to meet their needs and goals.