Akme Fintrade IPO Allotment Status Finalised; Check Status

The initial public offering of Akme Fintrade (India) Limited, which operates Aasaan Loans, was subscribed 55.12 times on Friday led by non-institutional investors (NII) who subscribed to the issue 130.33 times. Retail investors subscribed to the issue 45.78 times followed by institutional investors (QIB) who subscribed to the issue 28.12 times. Employee reserved category subscribing 5.53 times on the final day of the bidding for the issue.

The allotment for the Akme Fintrade IPO was finalised on Monday, June 24.

Investors can check the Akme Fintrade IPO allotment status on the official website of the registrar for IPO, Bigshare Services Private Ltd. and the BSE website.

Given below is the step-by-step guide for verifying the Akme Fintrade IPO allotment status.

• Visit the Bigshare Services website here: https://www.bigshareonline.com/ipo_Allotment.html

• Select any of the one servers to know your IPO Allotment Status.

• Select "Akme Fintrade (India) Limited" from the company drop-down list on the Public Issues page.

• Select either the PAN number, Beneficiary ID or Application number to verify your allotment.

• Enter your PAN number, application number or Beneficiary ID.

• Enter the 'Captcha' as shown on the screen.

• Click on the "Search" button.

• Download or print the allotment status for your records.

• Go to the official BSE website here: https://www.bseindia.com/investors/appli_check.aspx

• Select the issue type as 'Equity.'

• Choose "Akme Fintrade (India) Limited" from the dropdown menu.

• Enter your application number or PAN (Permanent Account Number).

• Complete the 'Captcha' for verification.

• Click on the "Search" button to view your allotment status.

• Download or print the allotment status for your records.

The shares of Akme Fintrade (India) Limited (Aasaan Loans IPO) will be listed on Wednesday, June 26, 2024. The company will be listed on both the NSE and BSE.

• Basis of Allotment: Monday, June 24

• Initiation of Refunds: Tuesday, June 25

• Credit of Shares to Demat: Tuesday, June 25

• Listing Date: Wednesday, June 26

Investors who were successfully allotted the shares of the company will have their demat accounts credited on June 25. The refund procedure will begin on Tuesday, as soon as the allotment is finalised.

Akme Fintrade (India) Limited IPO became the 16th most subscribed IPO of 2024. With 55.12 times the subscription it ranked just below Apeejay Surrendra Park Hotels which saw an overall subscription of 59.66.

The company aims to raise Rs 132 crore from the IPO, which comprises a fresh issue of 1.1 crore equity shares with no offer-for-sale component. Akme Fintrade has set a price band of Rs 114–120 per share for the issue. The minimum lot size will be 125 shares, with further bids to be made in multiples thereof. The company raised Rs 37.6 crore from anchor investors on Tuesday. The issue also has 5.5 lakh shares reserved for its employees.

Udaipur-based Akme Fintrade is primarily engaged in providing rural and semi-urban-centric lending solutions to customers in four states - Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. The company's portfolio includes vehicle finance and business finance products for small business owners. Proceeds of the issue are proposed to be used to augment the capital base of the company.