Akiko Global Services IPO: Issue subscribed 50% so far on Day 1; check GMP, other key details of SME IPO
Akiko Global Services IPO opened for subscription on Tuesday, June 25, and will close on Thursday, June 27.
Akiko Global Services IPO: The initial public offering (IPO) of financial services company Akiko Global Services Limited hit the street on June 25. The company aims to raise ₹23.11 crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.
The company partners with major banks and non-banking financial companies (NBFCs) in India and specializes in distributing and selling financial products, such as credit cards and loans.
Let us check Akiko Global Services IPO GMP, subscription status, and other key details.
Akiko Global Services IPO Subscription Status
Akiko Global Services IPO has been subscribed 0.50 times so far on Tuesday, the first day of the bidding process. The public issue received bids for 10.44 lakh equity shares as against 20.81 lakh shares on the offer, as per the data available till 2:05 pm.
The IPO has been subscribed 0.96 times in the retail category, and 0.20 times in the Non-Institutional Investors (NII) category so far.
Akiko Global Services IPO GMP
Akiko Global Services IPO GMP today, or grey market premium today, is ₹18 per share, according to stock market observers. This indicates that Akiko Global Services shares were trading at ₹95 apiece in the grey market, a premium of 23.38% to the IPO price of ₹77 per share.
Akiko Global Services IPO Details
Akiko Global Services IPO opened for subscription on Tuesday, June 25, and will close on Thursday, June 27. The IPO allotment date is expected to be July 1, and IPO listing date is July 2. The equity shares of Akiko Global Services will be listed on NSE Emerge Platform.
Akiko Global Services IPO price band is set at ₹73 to ₹77 per share. At the upper-end of the price band, the company aims to raise ₹23.11 crore from the issue which is entirely a fresh issue of 30.02 lakh equity shares.
Akiko Global Services IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹123,200.
The company proposes to use the net issue proceeds for the implementation of ERP solutions and TeleCRM, Development of Mobile Applications for Financial Product Solutions, Meeting Working Capital Requirements, Enhancing Visibility and Awareness of the Brands, and General Corporate Purposes.
The Book Running Lead Manager to the issue is Fast Track Finsec Private Limited. The Akiko Global Services IPO registrar is Skyline Financial Services Private Limited.
“As a Channel Partner for leading banks and NBFCs in India, we specialize in distributing financial products like credit cards, loans, and CASA. Our success is driven by advanced digital marketing, including effective Google SEO campaigns, and a commitment to diverse marketing channels such as telemarketing and digital campaigns,” said Priyanka Dutta, Managing Director of Akiko Global Services.
The company’s platform, Money Fair, uses advanced algorithms for unbiased credit evaluation, enhancing customer options with multiple lenders.
In FY23, Akiko Global Services reported a revenue of ₹39.58 crore, EBITDA of ₹6.32 crore and a net profit of ₹4.53 crore.
For 10 months till January 2024, the company’s revenue was at ₹26.09 crore, EBITDA at ₹4.60 crore, and net profit at ₹3.21 crore.
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