Akme Fintrade IPO Surges on Debut, Lifts Market Valuation to Rs 563.1 Crore

Akme Fintrade (India) Ltd's shares rose nearly 6% on their market debut, against the issue price of Rs 120. The stocks opened at Rs 125.70 on BSE and later surged to Rs 131.95. The company's IPO received 55.12 times subscription and its market valuation reached Rs 563.10 crore.

Shares of non-banking finance company Akme Fintrade (India) Ltd saw a robust listing performance, opening nearly 6 per cent higher at Rs 125.70 against the issue price of Rs 120 on the BSE on Wednesday.

The stock further climbed to a high of Rs 131.95, marking a remarkable jump of 9.95 per cent. At the NSE, the shares debuted at Rs 127, showcasing a rise of 5.83 per cent from the issue price.

The company's market valuation consequently surged to Rs 563.10 crore. The IPO of Akme Fintrade received an impressive 55.12 times subscription on the final day of bidding, underpinning strong investor interest. The Rs 132-crore IPO included a fresh issue of up to 1.1 crore equity shares, with the price range set between Rs 114-120 per share.

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