Akme Fintrade Shares End At 11% Premium Over IPO Price
The Rs 132-crore IPO was subscribed 55.12 times on its final day.
Shares of Akme Fintrade (India) Ltd. ended on the National Stock Exchange at Rs 133.3 apiece, a premium of 11.1% over its issue price of Rs 120 per share. On the BSE, the stock closed at Rs 131.9 apiece, a premium of 9.96%.
The initial public offering of Akme Fintrade, which operates Aasaan Loans, had been subscribed 55.12 times on its final day. Investors who bid for the issue can check the Akme Fintrade (India) IPO allotment status here.
The subscription is led by non-institutional investors who subscribed to the issue 130.33 times. Retail investors subscribed to the issue 45.78 times followed by institutional investors 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
Business
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 organisation offers business finance solutions for small business owners in addition to automobile finance. Proceeds of the issue are proposed to be used to augment the capital base of the company.
