How To Check Akme Fintrade IPO Allotment Status

The Akme Fintrade IPO, a non-banking finance company, witnessed an overwhelming response, receiving 55.12 times subscriptions on the closing day of bidding, Friday, June 21. The Akme Fintrade IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the Akme IPO allotment status.

Checking Allotment Status on Registrar's Website:

Follow these steps to check the Akme IPO allotment status

  1. Visit the registrar's website.
  2. Click on "Company Selection" and choose "Akme Fintrade" from the dropdown menu.
  3. Then on the next page, you can enter your PAN, application number, or Demat.
  4. Click Submit to retrieve the Akme IPO allotment status

Checking IPO Allotment Status on BSE:

  1. Go to the BSE website.
  2. Click on the ‘Equity' section and select "Akme Fintrade" from the dropdown menu.
  3. Enter your application number or PAN.
  4. Click on the ‘Search' button.
  5. The result will show the number of shares allotted to you.

If all the details are entered correctly and the allotment has been finalised, the Akme Fintrade IPO allotment status will be visible.

See Also: How To Check DEE Development IPO Allotment Status

Akme Fintrade IPO Subscription Status

The IPO, aimed at raising ₹132 crore, garnered bids for 43.35 crore shares against the 78.65 lakh shares on offer, according to NSE data. The portion reserved for non-institutional investors was oversubscribed 130.33 times, while the retail individual investors (RIIs) category saw 45.78 times subscriptions. The qualified institutional buyers (QIBs) segment received bids 28.12 times the allotted quota.

Akme Fintrade IPO GMP

The Akme IPO is currently reported at ₹30. With the IPO's price band set at ₹120, the expected listing price is ₹150, indicating a potential gain of approximately 25% on the listing. However, it's crucial to remember that while GMPs can provide some insight into market sentiment, they are not always a reliable predictor of a stock's performance upon listing.

Akme Fintrade IPO Details

Prior to the IPO, Akme Fintrade raised nearly ₹38 crore from anchor investors on Tuesday. The company focuses on providing lending solutions primarily to rural and semi-urban customers in Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat, offering products such as vehicle finance and business finance for small business owners.

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Posted In: NewsIPOsAkme Fintrade