Aasaan Loans IPO: The initial public offering (IPO) of non-banking finance company Aasaan Loans (Akme Fintrade India Limited) will close for subscription today (June 21). The price band of Rs 132-crore IPO which opened for subscription on June 19 (Wednesday) was set between Rs 114 to Rs 120 per share. The public issue has received a decent response from investors. According to a news website, till 10:45 am on the last day of bidding i..e Friday, the IPO was subscribed 15.95 times, inviting bids for 12,54,64,625 shares compared to 78,65,000 on offer.
Aasaan Loans IPO subscription status:
The non-institutional investors category was subscribed 34.24 times while the category for Retail Individual Investors (RIIs) quota was subscribed 19.22 times. The Qualified Institutional Buyers (QIBs) portion received a 22% subscription. On Day 2 of bidding, the IPO was subscribed 11.61 times, garnering bids for 9,13,08,500 shares against 78,65,000 shares on offer.
Aasaan Loans IPO price band:
The price band of the issue has been fixed in the range of Rs 114 to Rs 120 per share.
Aasaan Loans IPO Allotment And Listing Dates
The allotment of Akme Fintrade India IPO is expected to be finalized on June 24, while Akme Fintrade India shares will be listed on Indian bourses BSE and NSE on June 26.
Aasaan Loans Latest IPO GMP Today
According to market observers, unlisted shares of the company are trading at a premium in the grey market today. The NBFC’s unlisted shares are trading at Rs 30 higher compared with its issue price in the grey market. The Rs 30 GMP indicates the grey market is anticipating a 25% listing gain from the offer.
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About Aasaan Loans:
According to the company website, Aasaan Loans is powered by Akme Fintrade India Limited (AFIL). Akme Fintrade India Limited (AIFL) has a legacy of 25 years in traditional lending services, with a presence in Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat – 20 physical branches in 4 states with 24 points of presence having served over 200,000 customers to date.
Aasaan Loans believes in assisting small businesses in growing by providing loans to those with potential and intent. Many such businesses have little or no access to capital from traditional banks and other financial institutions, or they lack either collateral or a financial data trail to obtain loans.
The company is primarily engaged in rural and semi-urban-centric lending solutions to look after the needs and aspirations of the rural and semi-urban populace. Our portfolio includes Vehicle Finance and Business Finance Products for small business owners.
Aasaan Loans has a long history of serving rural and semi urban markets with high growth potential and has maintained a track record of financial performance and operational efficiency through consistently high rates of customer acquisition and retention and low-cost expansion into underpenetrated areas. Therefore, we strategically focus on clients in the rural and semi-urban sectors.
Threats and things to consider before investing in Aasaan Loans IPO:
- The company requires substantial capital for its business and any disruption in its sources of capital could hurt its business, results of operations, and financial condition;
- The risk of non-payment or default by borrowers may adversely affect the company’s business, results of operations, and financial condition;
- The company’s failure to meet its obligations, including financial and other covenants under debt financing arrangements could adversely affect its business, results of operations, and financial condition;
- Any deterioration in the performance of any pool of receivables securitized to banks and other institutions may adversely impact our results of operations;
- Non-compliance with the RBI’s observations made pursuant to its periodic inspections and violations of regulations prescribed by the RBI, could expose the NBFC to certain penalties and restrictions.
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How To Check Aasaan Loans IPO Allotment:
- Step 1 – Visit the website of the issue’s registrar. Bigshare Services is handling the role of registrar for the issue.
- Step 2 – Choose the IPO allotment status button.
- Step 3 – Select the server.
- Step 4 – Enter the required details: company name, PAN number/beneficiary ID/application number (one of these), and enter the given captcha.
- Step 5 – Click the ‘Search’ button.
