Akme Fintrade Shares Surge Over 11% Post IPO

Shares of non-banking finance company Akme Fintrade (India) Ltd surged over 11% higher against the issue price of Rs 120. The stock witnessed significant gains on both BSE and NSE, reflecting strong investor interest. The company's IPO received 55.12 times subscription, raising Rs 132 crore. Akme Fintrade is known for its rural and semi-urban-centric lending solutions in various states.

Shares of the non-banking finance company Akme Fintrade (India) Ltd saw a significant boost, ending over 11% higher than the issue price of Rs 120 on Wednesday.

The stock commenced trading at Rs 125.70 on the BSE, marking a 4.75% increase from its issue price, eventually closing at Rs 131.95, up by 9.95%.

On the NSE, the shares launched at Rs 127, achieving a rise of 5.83%, and later settled at Rs 133.35, a commendable 11.12% hike.

Akme Fintrade's market valuation has reached Rs 563.10 crore following these developments.

The company's IPO met with remarkable enthusiasm, being oversubscribed by 55.12 times by the end of the bidding period last Friday.

This Rs 132 crore IPO involved the issuance of 1.1 crore new equity shares.

The price bracket for the offer was set between Rs 114 and Rs 120 per share.

Specializing in rural and semi-urban lending solutions across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat, Akme Fintrade's portfolio encompasses vehicle and business finance targeting small business owners.

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