Jun 18, 2024
By: Sourabh Jain
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Udaipur-based Akme Fintrade’s initial public offering (IPO) opens on Wednesday, June 19, and will close on Friday, June 21.
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Akme Fintrade has fixed a price band of ₹114-₹120 per share for its public issue.
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Akme Fintrade is a Udaipur-based non-banking financial company which provides lending solutions to the rural and semi-urban populations.
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Akme Fintrade is looking to raise ₹132 crore from the current IPO. This is entirely a fresh issue and there is no offer for sale (OFS) component.
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Investors can bid for a minimum of 125 shares and in multiples of 125 shares thereafter.
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The company, founded in 1996 currently has 15 branches spread across four states. It operates over 25 points of presence and has served over 2 lakh customers so far.
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The company’s income was ₹69.57 crore in FY23, up from ₹67.5 crore in FY22. The company reported a profit of ₹15.80 crore in FY23, up from ₹4.12 crore profit reported in FY22.
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The financial services segment is highly competitive and increased competition may affect its performance. The industry is also prone to regulatory changes and stringent compliance requirements.
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An increase in the non-performing assets (NPAs) might impact the company’s financial health and its ability to raise capital.
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The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.
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