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 is open for subscription on June 19, 2024 and close today June 21, 2024. The allotment for the Aasaan Loans IPO is expected to be finalized on Monday, June 24, 2024. Aasaan Loans IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, 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.
Aasaan Loans IPO Details
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | [.] |
| 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 Reservation
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 Anchor Investors Details
Aasaan Loans IPO raises Rs 37.62 crore from anchor investors. Aasaan Loans IPO Anchor bid date is June 18, 2024.
| 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 Timeline (Tentative Schedule)
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 |
Aasaan Loans IPO Lot Size
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 | |||
Aasaan Loans IPO Promoter Holding
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 |
About Akme Fintrade India Ltd
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 Financial Information (Restated)
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 | ||||
Key Performance Indicator
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 |
Objects of the Issue (Aasaan Loans IPO Objectives)
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.
Aasaan Loans IPO Review (Avoid)
[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.
Aasaan Loans IPO Subscription Status (Bidding Detail)
The Aasaan Loans IPO is subscribed 54.49 times on June 21, 2024 6:19:07 PM (Day 3). 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.
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 28.12 | 20,90,000 | 5,87,62,125 |
| NII | 129.98 | 15,67,500 | 20,37,43,250 |
| bNII (bids above ₹10L) | 121.56 | 10,45,000 | 12,70,26,875 |
| sNII (bids below ₹10L) | 146.83 | 5,22,500 | 7,67,16,375 |
| Retail | 44.58 | 36,57,500 | 16,30,66,125 |
| Employee | 5.42 | 5,50,000 | 29,78,250 |
| Total | 54.49 | 78,65,000 | 42,85,49,750 |
What is Aasaan Loans IPO?
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.
How to apply in Aasaan Loans IPO through Zerodha?
Steps to apply in Aasaan Loans IPO through Zerodha
1. Visit the Zerodha website and login to Console.
2. Go to Portfolio and click the IPOs link.
3. Go to the ‘Aasaan Loans IPO’ row and click the ‘Bid’ button.
4. Enter your UPI ID, Quantity, and Price.
5. ‘Submit’ IPO application form.
6. Visit the UPI App (net banking or BHIM) to approve the mandate.
