Aasaan Loans IPO: Check issue size, price band, GMP

The initial public offering (IPO) of Akme Fintrade India Ltd (Aasaan Loans) will open for bidding on Wednesday looking to raise Rs 132 crore.

Akme Fintrade India Ltd is a non-banking financial company (NBFC) founded in 1996, with more than two decades of expertise in providing loans to rural and semi-urban regions across India.

The company focusses on offering lending solutions that cater to the specific needs and goals of rural and semi-urban communities. Its product range includes Vehicle Finance and Business Finance aimed at small business owners.

10 things to know about the IPO of Aasaan Loans

Subscription period: The Aasaan Loans IPO will be open for subscription from June 19, 2024, to June 21, 2024.

Price band: The price band for the Aasaan Loans IPO is set between Rs 114 and Rs 120 per share.

Fundraising target: Aasaan Loans is launching an IPO worth Rs 132.00 crore through a book-built issue.

Issue division: The IPO is entirely a fresh issue which consists of 1.1 crore shares amounting to Rs 132 crore.

Lot size: The minimum lot size for an application is 125 shares. Retail investors need to invest a minimum of Rs 15,000. For small non-institutional investors (sNII), the minimum investment is 14 lots (1,750 shares), totalling Rs 2,10,000.

For big non-institutional investors (bNII), the minimum investment is 67 lots (8,375 shares), totalling Rs 10,05,000.

Allotment date: The allotment for Aasaan IPO is expected to be finalised on Monday, June 24, 2024.

Listing date: The shares of Akme Fintrade India Ltd will list on the BSE and NSE, with a tentative listing date of Wednesday, June 26, 2024.

Registrar: Bigshare Services Pvt Ltd is the registrar for the issue of Aasaan Loans IPO.

Listing platforms: The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Grey market premium (GMP): The latest Grey Market Premium (GMP) for the Aasaan Loans IPO is Rs 36 as of June 18, 2024 at 12:53 PM, suggesting an estimated listing price of Rs 156. This indicates an expected percentage gain per share of 30%.