Company is RBI registered NBFC having north centric business of financial services offerings. Aasaan Loans IPO aims to raise Rs. 132.00 crores. The issue is entirely a fresh issue of 1.1 crore shares.
| IPO opens | June 19, 2024 |
| IPO Closes | June 21, 2024 |
| IPO Size (Rs.) | ₹132.00 Cr (11,000,000 shares) |
| Breakup | Fresh issue |
| Face Value: | ₹ 10 per share |
| IPO Price in Rs : | ₹114 to ₹120 per share |
| Minimum Lot | 73 Shares |
| Listing At | NSE, BSE |
| QIB | ~50% |
| NII Quota | ~15% |
| Retail Quota | ~35% |
| Lead Manager | Gretex Corporate Services |
| Registrar | Bigshare Services Pvt Ltd |
Akme Fintrade: Anchors
Aasaan Loans IPO: Salient Points
- Akme Fintrade is RBI registered NBFC having north centric business of financial services offerings.
- Group company is BSE-listed Star Housing Finance,
- Company is Udaipur based. company has 12 branches and 25 touch-points.
- credit rating has dropped from BB+ in Jun 2022.4 to BBB (Stable).
- From Fy21 to Fy23 Number of customers has shrunk 27% , revenue from Rs. 86 cr in FY21 to Rs. 65 cr in FY23 and is Rs. 52 cr in 9MFY24.AUM has also declined.
- In Dec 2022, company raised Rs. 44 cr at Rs. 80 per share. Performance has gone down but now shares are Offred at Rs. 120.
- Company has shown MAS Financial, Shriram Finance, Cholamandalam Investment, Arman Financial, and CSL Finance as their listed peers which are much much better companies and not comparable.
- Akme Fintrade | Aasaan Loans is coming at a PE 31.3x(FY24 ).
- Being oferred at a PBV of 1.4x which looks higher for a small company
- GMP as reported on social media is around 25%.
- I am not likely to apply in Akme Fintrade | Aasaan Loans IPO.There can be speculation in shares though fundamental do not justify the price.
- Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.