Akme Fintrade IPO: Price band set at ₹114-120 per share; check GMP, key dates, issue details, more
₹114 to ₹120 apiece of face value of ₹10 each. The Reserve Bank of India (RBI) registered NBFC will kick-start its subscriptions from Wednesday, June 19, and conclude on Friday, June 21.
The anchor investor bidding date had been set for Tuesday, June 18.The floor price is 11.40 times of the face value and the cap price is 12 times of the face value. The price to earning ratio at the floor price is 19.49 times and at the cap price is 20.51 times.
The Akme Fintrade IPO lot size is 125 equity shares and in multiples of 125 equity shares thereafter.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.
The company offers Vehicle Finance and Business Finance Products to small business owners.Also Read: Bajaj Housing Finance IPO: Bajaj Finance arm files draft papers with SEBI for ₹7,000 crore issue; All You Need To KnowThe Akme Fintrade IPO has reserved 50% of the shares in the public offering for qualified institutional buyers (QIB), 15% for non-institutional institutional investors (NII), and 35% for retail investors. The employees segment has been allocated 5,50,000 equity shares.Tentatively, the Akme Fintrade IPO basis of allocation of shares will be concluded on Monday, June 24, and the business will commence refunds on Tuesday, June 25, with shares credited to allottees' demat accounts the same day.
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