Latest News | Akme Fintrade Collects Rs 38 Cr from Anchor Investors; IPO to Open on Jun 19

New Delhi, Jun 18 (PTI) Non-banking finance company Akme Fintrade (India) Ltd on Tuesday said it has raised nearly Rs 38 crore from anchor investors, a day before its initial share sale opening for public subscription.

The anchor investors who have been allocated shares are 3 Sigma Global Fund, Zeal Global Opportunities Fund, SB Opportunities Fund 1 and Vikasa India EIF Fund 1, according to a circular uploaded on BSE's website.

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The Udaipur-based company has allotted 31.35 lakh equity shares to anchor investors at Rs 120 apiece, totalling Rs 37.62 crore, it added.

The company's Rs 132 crore IPO comprises a fresh issue of 1.1 crore equity shares. The issue, with a price band of Rs 114-120 apiece, will open for subscription on June 19 and conclude on June 21.

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Akme Fintrade is primarily engaged in providing rural and semi-urban-centric lending solutions to customers in four states -- Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. The company's portfolio includes vehicle finance and business finance products for small business owners.

Gretex Corporate Services Ltd is the sole book-running lead manager for the issue. The shares of the company will be listed on the BSE and NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)