Aasaan Loans, or AKME Fintrade India, a non-banking financial company opened its IPO on June 19 to investors. The company wants to raise Rs 132 crore and will close the bidding on June 21. The share allotment is expected to be finalised on June 24 by the registrar. An allotment is the allocation of new shares or of selling shareholders in the D-Mat accounts of investors who applied for the IPO.
Here’s how you can check allotment:
Step 1
You need to visit the website of the issue’s registrar. Aasaan Loans chose Bigtshare Services.
Step 2
Select the IPO allotment status button on the left bottom.
Market rally leads to higher regulatory fees for stock exchanges Rainbow Children’s Medicare posts Q1 profit decline of 4.2% at Rs 39.73 crore due to cost of new hospitals Budget initiatives to boost growth, employment: FM Akums Drugs and Pharmaceuticals IPO opens on July 30; Check issue size, price band, and other details
Step 3
Select the server.
Step 4
Fill in the details: company name, PAN number/beneficiary ID/application number (one of these), and enter the given captcha.
Step 5
Hit the ‘Search’ button.
Grey Market Premium
The company’s shares were fetching a premium of 40% in the grey market. It is an unofficial place where share trade in an illegal way ahead of listing. Market participants keep an eye on IPO GMP to take cues for listing day.
Price band and minimum investment:
Aasaan Loans kept the IPO price band in a range of Rs 114 to Rs 120 per equity share. The retail buyers need to apply for at least one lot in an application that contains 125 shares amounting to Rs 15,000. While the lot sizes are different for NIIs and QIBs.
Registrar and BRLM
Gretex Corporate Services is the book-running lead manager, while Bigshare Services is handling the role of registrar for the issue.
About Aasaan Loans (AKME Fintrade)
Akme Fintrade (India) is a well-established vehicle finance, small businesses lending business with a customer-centric approach and a deep understanding of target customers. The company has access to diversified sources of capital and effective asset-liability management, along with the Hub and Spoke business model that improves efficiencies and decreases costs.
Expert’s take on AKME Fintrade
“At the upper price band, the company is valued at a P/E of 27.64x and P/BV of 1.52x, with a market cap of Rs 5,121 million post issue of equity shares and return on net worth of 7.72%. We believe that the IPO is fairly priced and recommend a “Subscribe for Long Term” rating to the IPO,” said Anand Rathi in an IPO note.
