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Aasaan Loans IPO is a book built issue of Rs 132.00 crores. The issue is entirely a fresh issue of 1.1 crore shares.
Aasaan Loans IPO bidding started from June 19, 2024 and ended on June 21, 2024. The allotment for Aasaan Loans IPO was finalized on Monday, June 24, 2024. The shares got listed on BSE, NSE on June 26, 2024.
Aasaan Loans IPO price band is set at ₹114 to ₹120 per share. The minimum lot size for an application is 125 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (1,750 shares), amounting to ₹210,000, and for bNII, it is 67 lots (8,375 shares), amounting to ₹1,005,000.
Gretex Corporate Services Limited is the book running lead manager of the Aasaan Loans IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Aasaan Loans IPO RHP for detailed information.
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | June 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹114 to ₹120 per share |
| Lot Size | 125 Shares |
| Total Issue Size | 11,000,000 shares (aggregating up to ₹132.00 Cr) |
| Fresh Issue | 11,000,000 shares (aggregating up to ₹132.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Aasaan Loans IPO offers 11,000,000 shares. 2,090,000 (19.00%) to QIB, 1,567,500 (14.25%) to NII, 3,657,500 (33.25%) to RII, 550,000 (5.00%) to employees and 3,135,000 (28.50%) to Anchor investors. 29,260 RIIs will receive minimum 125 shares and 298 (sNII) and 597 (bNII) will receive minimum 1,750 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 3,135,000 (28.50%) | NA |
| QIB Shares Offered | 2,090,000 (19.00%) | NA |
| NII (HNI) Shares Offered | 1,567,500 (14.25%) | |
| bNII > ₹10L | 1,045,000 (9.50%) | 597 |
| sNII < ₹10L | 522,500 (4.75%) | 298 |
| Retail Shares Offered | 3,657,500 (33.25%) | 29,260 |
| Employee Shares Offered | 550,000 (5.00%) | NA |
| Total Shares Offered | 11,000,000 (100%) |
Aasaan Loans IPO raises Rs 37.62 crore from anchor investors. Aasaan Loans IPO Anchor bid date is June 18, 2024. Aasaan Loans IPO Anchor Investors list
| Bid Date | June 18, 2024 |
| Shares Offered | 3,135,000 |
| Anchor Portion Size (In Cr.) | 37.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 22, 2024 |
Aasaan Loans IPO opens on June 19, 2024, and closes on June 21, 2024.
| IPO Open Date | Wednesday, June 19, 2024 |
| IPO Close Date | Friday, June 21, 2024 |
| Basis of Allotment | Monday, June 24, 2024 |
| Initiation of Refunds | Tuesday, June 25, 2024 |
| Credit of Shares to Demat | Tuesday, June 25, 2024 |
| Listing Date | Wednesday, June 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2024 |
Investors can bid for a minimum of 125 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1625 | ₹195,000 |
| S-HNI (Min) | 14 | 1,750 | ₹210,000 |
| S-HNI (Max) | 66 | 8,250 | ₹990,000 |
| B-HNI (Min) | 67 | 8,375 | ₹1,005,000 |
| Lot Size Calculator | |||
The promoters of the company are Nirmal Kumar Jain, Manju Devi Jain, Dipesh Jain and Nirmal Kumar Jain HUF.
| Share Holding Pre Issue | 56.01% |
| Share Holding Post Issue |
Incorporated in 1996, Akme Fintrade India Ltd is a non-banking financial company (NBFC) with over 20 years of experience in lending to rural and semi-urban areas in India.
The company mainly provides lending solutions tailored to the needs and aspirations of rural and semi-urban populations. Its portfolio comprises Vehicle Finance and Business Finance Products for small business owners.
The company operates in rural and semi-urban areas across four Indian states - Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. It has a registered office in Udaipur, Rajasthan, and a Corporate Office in Mumbai, Maharashtra. With 12 branches and over 25 points of presence, including digital and physical branches, it has served over 200,000 customers.
The company finances the purchase of new two-wheelers and three-wheelers, such as scooters, motorcycles, and auto rickshaws, for salaried professionals and self-employed non-professionals.
The company has 125 permanent employees as of December 31, 2023, and prioritizes their overall welfare.
Akme Fintrade India Ltd's revenue increased by 3.06% and profit after tax (PAT) rose by 283.5% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 417.96 | 390.50 | 374.01 | 455.40 |
| Revenue | 53.45 | 69.57 | 67.50 | 86.79 |
| Profit After Tax | 12.25 | 15.80 | 4.12 | 16.31 |
| Net Worth | 217.01 | 204.78 | 136.84 | 130.26 |
| Reserves and Surplus | 185.34 | 173.11 | 115.03 | 108.45 |
| Total Borrowing | 195.19 | 177.76 | 230.06 | 317.82 |
| Amount in ₹ Crore | ||||
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 5.64% |
| Debt/Equity | 2.49 |
| RoNW | 5.81% |
| PAT Margin (%) | 22.93 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.87 |
The company proposes to utilize the Net Proceeds from the Issue towards augmenting the capital base of the company to fulfil its future capital requirements, which are anticipated to arise as a result of the expansion of the business and assets. Further, a portion of the proceeds from the Issue will be used towards meeting Issue-related expenses.
[Dilip Davda] The company is operating in financial services segment which is highly competitive and fragmented one. It also has ever changing regulatory norms. Based on FY24 annualized earnings, the issue is aggressively priced. There is no harm in skipping this pricey offer. Read detail review...
The Aasaan Loans IPO is subscribed 54.49 times on June 21, 2024 6:19:07 PM. The public issue subscribed 44.58 times in the retail category, 28.12 times in the QIB category, and 129.98 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 28.12 |
| NII | 129.98 |
| bNII (bids above ₹10L) | 121.56 |
| sNII (bids below ₹10L) | 146.83 |
| Retail | 44.58 |
| Employee | 5.42 |
| Total | 54.49 |
Total Application : 1,218,115 (41.63 times)
| Listing Date | June 26, 2024 |
| BSE Script Code | 544200 |
| NSE Symbol | AFIL |
| ISIN | INE916Y01019 |
| Final Issue Price | ₹120 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹120.00 |
| ₹125.70 |
| ₹125.70 |
| ₹131.95 |
| ₹131.95 |
| NSE |
|---|
| ₹120.00 |
| ₹127.00 |
| ₹127.00 |
| ₹133.35 |
| ₹133.35 |
Akme Fintrade India Ltd
AKME Business Centre (ABC),
4-5 Subcity Centre, Savina Circle opp
Krishi Upaz Mandi Udaipur,- 313002
Phone: +91- 294-2489501
Email: cs@aasaanloans.com
Website: https://aasaanloans.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Aasaan Loans IPO is a main-board IPO of 11,000,000 equity shares of the face value of ₹10 aggregating up to ₹132.00 Crores. The issue is priced at ₹114 to ₹120 per share. The minimum order quantity is 125 Shares.
The IPO opens on June 19, 2024, and closes on June 21, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Aasaan Loans IPO using UPI as a payment gateway. Zerodha customers can apply in Aasaan Loans IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aasaan Loans IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aasaan Loans IPO opens on June 19, 2024 and closes on June 21, 2024.
Aasaan Loans IPO lot size is 125 Shares, and the minimum amount required is ₹15,000.
You can apply in Aasaan Loans IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Aasaan Loans IPO will be done on Monday, June 24, 2024, and the allotted shares will be credited to your demat account by Tuesday, June 25, 2024. Check the Aasaan Loans IPO allotment status.
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