Akme Fintrade IPO Oversubscribed 53.97 Times, Receives Massive Investor Interest

Akme Fintrade's Initial Public Offer received a phenomenal 53.97 times subscription, showcasing strong investor confidence. Retail and non-institutional investor categories were heavily oversubscribed. With a fresh issue of up to 1.1 crore equity shares in the price range of Rs 114-120 per share, Akme Fintrade is set to list on BSE and NSE soon.

Akme Fintrade (India) Ltd's Initial Public Offer (IPO) has surpassed expectations, achieving a staggering 53.97 times subscription on the final day of bidding, Friday. According to NSE data, the Rs 132 crore IPO gathered bids for an impressive 42,44,43,250 shares against the 78,65,000 shares on offer.

The non-institutional investor segment saw an overwhelming 129.53 times subscription, while the Retail Individual Investors (RIIs) category garnered 43.67 times and Qualified Institutional Buyers (QIBs) received 28.12 times.

The IPO debuted with a strong start, securing 3 times the subscription on its opening day, Wednesday, with shares priced between Rs 114-120 each. Akme Fintrade is engaged in providing lending solutions focused on rural and semi-urban areas across four states—Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat.

Having raised nearly Rs 38 crore from anchor investors, Akme Fintrade is now poised for its listing on both the BSE and NSE. The offering, managed by Gretex Corporate Services, underscores strong demand in the non-banking finance sector.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)