Acme Fintrade raises Rs 38 crore from anchor investors; IPO to open on June 19

New Delhi, Non-banking finance company Acme Fintrade (India) Ltd on Tuesday said it has raised about Rs 38 crore from anchor investors, a day before its initial share sale opens for public subscription. According to a circular uploaded on the BSE website, the anchor investors who have been allotted shares are 3 Sigma Global Fund, Zeal Global Opportunities Fund, SB Opportunities Fund 1 and Vikas India EIF Fund 1.

The Udaipur-based company has allotted 31.35 lakh equity shares to anchor investors at a price of Rs 120 per share, aggregating to Rs 37.62 crore.

The company’s Rs 132 crore IPO will issue 1.1 crore equity shares. The issue with a price band of Rs 114-120 per share will open for subscription on June 19 and end on June 21.

Acme Fintrade is primarily engaged in providing rural and semi-urban focused lending solutions to customers in four states – Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. The company’s portfolio includes vehicle finance and business finance products for small business owners.

Greatex Corporate Services Limited is the sole book-running lead manager for the issue. The company’s shares will be listed on BSE and NSE.