Allotment of Akme Fintrade IPO shares is likely to take place on Monday. Here’s how you can check the status

NBFC Akme Fintrade received strong response from investors for its IPO, which closed last week. The issue was subscribed only 53 times. After the subscription closes, the company will finalize the share allotment on Monday.

Investors can check the status of their share allotment by logging on to the BSE or the registrar’s website.

First, here is how you can know the status on BSE

Step 1: Visit the BSE website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, it is the company name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

To check the status of Akme Fintrade IPO allocation by the registrar, which in this case is Bigshare Services, please follow the steps below.

Step 1: Visit the BigShare Services website (https://ipo.bigshareonline.com/IPO_Status.html)

Step 2: Select Akme Fintrade IPO

Step 3: Enter the PAN details and click on search to know the status
The post-election boom will see 9 new issues and 11 listings in the primary market next week

Akme Fintrade GMP
In the unlisted market, the company’s shares traded at Rs. Trading with a premium of 45. This compares to an IPO price of 120, a 47% increase on the day of listing, which is set for June 26.

The fund is being raised primarily to increase its capital base. As per RBI norms, the minimum capital adequacy for NBFCs should be 15%.

In the coming years, the Company plans to increase its loan advances which will require Tier-1 capital to comply with applicable capital adequacy norms. Through an IPO, it will have sufficient capital in the short to medium term without much need for fresh capital.

Akme Fintrade is a Non-Banking Finance Company (NBFC) engaged in rural and semi-urban focused credit solutions that cater to the needs and aspirations of rural and semi-urban people. Its portfolio includes vehicle finance and business finance products for small business owners.

The company has a long history of serving rural and semi-urban markets with high growth potential and has maintained a track record of financial performance and operational efficiency through consistently high rates of customer acquisition and retention and expansion into low-cost areas.

In FY23, the company’s revenue from operations was Rs. 67.44 crores to Rs. 69.51 crores. Meanwhile, profit after tax a year ago was just Rs. 4.12 crore increased manifold to Rs. 15.80 crores.

Gretex Corporate Services is acting as the booking running lead manager for the public offering.

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