Akme Fintrade Day 2 Closing Subscription

20 Jun 2024 , 06:40 PM

Akme Fintrade India Ltd, a non-banking financial company (NBFC), has had tremendous investor demand for its initial public offering (IPO), which was oversubscribed on the first day of trading. Akme Fintrade’s initial public offering (IPO) began on June 19 and will end on June 21.

The Akme Fintrade IPO price band is set at ₹114 to ₹120 per share. The company intends to raise 132 crore at the upper end of the pricing band through a fresh offering of 1.1 crore shares.

The NBFC wants to use the proceeds from the new offering to strengthen its capital base.

Akme Fintrade India’s IPO lot size is 125 shares, with a minimum investment of ₹15,000.

Akme Fintrade’s IPO allotment is expected to be finalised on June 24, with an IPO listing date of June 26. Akme Fintrade India’s shares will be listed on both the BSE and NSE.

Gretex Corporate Services Ltd is the book-running lead manager for the Akme Fintrade IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

Akme Fintrade’s IPO went through on the first day. The issue has been subscribed 11.63 times as of 6:00 pm June 20, the second day of the bidding process. It got bids for 9.14 crore shares, with 78.65 lakh shares on offer.

The IPO is booked 15.16 times in the retail category and 22.22 times in the non-institutional investor (NII) category. The component for Qualified Institutional Buyers (QIBs) has been subscribed to 17% thus far.

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