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Posted on  June 15, 2024 under  by Meghna Mundhra

Aasaan Loans IPO Details - Complete Overview of Akme Fintrade India Limited IPO

Aasaan Loans IPO Price: ₹114 to ₹120 per share
IPO Date Range:
19 June 2024 - 21 June 2024

Aasaan Loans IPO

Company Overview

Incorporated in 1996, Akme Fintrade India Ltd, also known as Aasaan Loans, is a non-banking financial company (NBFC) with over 20 years of experience. Registered with the Reserve Bank of India as a non-systemically important non-deposit-taking NBFC, the company focuses on providing lending solutions tailored to the rural and semi-urban populations in India.

Operational Presence

Akme Fintrade operates across four Indian states: Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. With a registered office in Udaipur, Rajasthan, and a corporate office in Mumbai, Maharashtra, the company has established a strong presence with 12 branches and over 25 points of presence, including digital and physical branches. To date, Akme Fintrade has served more than 200,000 customers, emphasizing its commitment to reaching underpenetrated markets.

Product Offerings

Akme Fintrade's portfolio includes Vehicle Finance and Business Finance products designed for small business owners and individuals in rural and semi-urban areas. The company finances the purchase of new two-wheelers and three-wheelers, such as scooters, motorcycles, and auto-rickshaws, catering to salaried professionals and self-employed non-professionals. The company has maintained a strong track record of financial performance and operational efficiency through high rates of customer acquisition and retention, as well as cost-effective expansion into underpenetrated markets.

Digital Initiatives

Akme Fintrade is expanding its reach with a new digital lending platform, www.aasaanloans.com, which is set to go live soon. Currently in the User Acceptance Testing (UAT) phase with a select group of users, the platform initially focuses on two-wheeler finance. Future phases will introduce products for loans against property, commercial vehicle financing, and secured business loans. This digital initiative aims to enhance the company's service delivery and accessibility, further solidifying its presence in the rural and semi-urban financial markets.

Bidding Starts In

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Aasaan Loans IPO Specifics:

IPO DateJune 19, 2024 to June 21, 2024
Listing DateWednesday, June 26, 2024
Face Value₹10 per share
Price Band₹114 to ₹120 per share
Lot Size125 Shares
Total Issue Size11,000,000 shares
(aggregating up to ₹132.00 Cr)
Fresh Issue11,000,000 shares
(aggregating up to ₹132.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE

Aasaan Loans IPO Lot Size

Bidders have the opportunity to bid for a minimum of 125 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.

ApplicationLotsSharesAmount
Retail (Min)1125₹15,000
Retail (Max)131625₹1,95,000
S-HNI (Min)141,750₹2,10,000
S-HNI (Max)668,250₹9,90,000
B-HNI (Min)678,375₹10,05,000

Aasaan Loans IPO Reservation

QIB Shares OfferedNot more than 50% of the Net offer
Retail Shares OfferedNot less than 35% of the Offer
NII (HNI) Shares OfferedNot less than 15% of the Offer

Aasaan Loans IPO Timetable (Important Dates)

IPO Open DateWednesday, June 19, 2024
IPO Close DateFriday, June 21, 2024
Basis of AllotmentMonday, June 24, 2024
Initiation of RefundsTuesday, June 25, 2024
Credit of Shares to DematTuesday, June 25, 2024
Listing DateWednesday, June 26, 2024
Cut-off time for UPI mandate confirmation5 PM on June 21, 2024

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Akme Fintrade India Limited IPO Financial Information

Between March 31, 2022, and March 31, 2023, Akme Fintrade India Ltd witnessed a 3.06% growth in revenue and a significant 283.5% increase in profit after tax (PAT).

Period Ended31 Mar 202131 Mar 202231 Mar 202331 Dec 2023
Assets455.40374.01390.50417.96
Revenue86.7967.5069.5753.45
Profit After Tax16.314.1215.8012.25
Net Worth130.26136.84204.78217.01
Reserves & Surplus108.45115.03173.11185.34
Total Borrowing317.82230.06177.76195.19
Amount in ₹ Crore

Key Performance Indicator - Aasaan Loans IPO

KPIValues
EPSRs 3.87
ROCE5.64%
Debt/ Equity2.49
RoNW5.81%

Objects of the Issue:

Akme Fintrade India Limited plans to apply the Net Proceeds received from the Issue to enhance the company's capital foundation in order to satisfy its upcoming capital needs, which are expected to emerge due to the growth of the business and assets. Furthermore, a segment of the proceeds generated from the Issue will be allocated to cover expenses associated with the Issue.

Prospectus Links:

Prospectus: Official documents that provide detailed information about the IPO and the company. Akme Fintrade India Limited IPO DRHP and Akme Fintrade India Limited RHP.

Frequently Asked Questions

What is an IPO?

An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.

Why do companies go public with an IPO?

Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.

What is the price range for the Aasaan Loans IPO?

The price range for the Aasaan Loans IPO is ₹114 to ₹120 per share.

When will the Aasaan Loans IPO be listed on the stock exchange?

The Aasaan Loans IPO is expected to be listed on Wednesday, 26 June 2024.

How to apply for an IPO with Lakshmishree?

To apply for an IPO with Lakshmishree:
Go to www.lakshmishree.com/ipo
Select the desired IPO and fill in the required details.
Confirm your application and make the payment.
Once applied, you can track the status of your application on the platform or get in your registered Email ID.

How can I check the subscription status of an IPO on Lakshmishree?

Log in to your Lakshmishree account and navigate to the 'IPO' section. Here, you can view live updates on the subscription status of ongoing IPOs.

Written by Meghna Mundhra

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