Akme Fintrade IPO subscription details on day 2

20 Jun 2024 , 12:22 PM

Akme Fintrade India Ltd’s IPO, a non-banking financial company (NBFC), saw strong investor demand and was oversubscribed on the first day of bidding. At the time of writing on Day 2 of subscription at June 20, 2024 at 12:05, the Akme Fintrade IPO has seen application for 5.74 times the subscription amount.  The Non-Institutional Investor (NII) segment saw a subscription of 9.80 times, and the retail investors subscribed to 8.00 times. 

The IPO opened on June 19 and will close on June 21. The price band for the IPO is set between ₹114 to ₹120 per share. The allotment of shares is expected to be finalized on June 24, with the listing date set for June 26. Akme Fintrade India shares will be listed on both the BSE and NSE.

The non-banking finance company (NBFC) raised around ₹38 Crore from anchor investors on Tuesday, June 18. Anchor investors include Sigma Global Fund, Zeal Global Opportunities Fund, SB Opportunities Fund 1, and Vikasa India EIF Fund 1.

Share allocation: 50% to qualified institutional buyers (QIB), 15% to non-institutional investors (NII), and 35% to retail investors, with 5,50,000 shares reserved for employees.

Akme Fintrade is an RBI-registered NBFC, operating for over two decades in rural and semi-urban India, focusing on vehicle financing and business finance for small business owners.

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