Spectrum Talent Management and Akme Fintrade file DRHP to raise funds via IPO

17 Feb 2023 , 09:39 AM

Spectrum Talent Management, a human resource services company and Akme Fintrade, an Udaipur-based non-banking financial institution, have filed preliminary papers to raise funds through initial public offer (IPO). 

Spectrum Talent Management has filed its DRHP with the National Stock Exchange of India (NSE) to seek approval for raising funds. The IPO comprises a fresh issue of 60,49,600 equity shares and an offer for sale of 5,99,200 equity shares with a face value of 10 per share.

The company will use net proceeds from the IPO for acquisitions of companies in similar/ complementary areas and working capital for expanding the business.

Spectrum Talent Management appointed Beeline Capital Advisors and Sarthi Capital Advisors as the book-running lead managers for the IPO and Systematix Corporate Services Ltd as advisors to the issue.

As per DRHP, Akme Fintrade public issue comprises fresh issuance of 1.1 crore equity shares and no offer for sale (OFS) component. The company will use net proceeds to argument capital base of the company.

The company is engaged in providing rural and semi-urban centric lending solution to customers in four states – Rajasthan, Maharashtra, Madhya Pradesh and Gujarat.

Gretex Corporate Services Ltd is the sole book running lead manager to the issue. Bigshare Services Private Limited is the registrar in the same.