Akme Fintrade shares climb nearly 6% in market debut
The stock began the trade at Rs 125.70, reflecting a jump of 4.75 per cent from the issue price on the BSE. It later climbed 9.95 per cent to Rs 131.95.
Shares of non-banking finance company Akme Fintrade (India) Ltd listed nearly 6 per cent higher on Wednesday against the issue price of Rs 120.
The stock began the trade at Rs 125.70, reflecting a jump of 4.75 per cent from the issue price on the BSE. It later climbed 9.95 per cent to Rs 131.95.
At the NSE, shares of the company listed at Rs 127, up 5.83 per cent.
The company's market valuation stood at Rs 563.10 crore.
The initial public offering (IPO) of Akme Fintrade (India) Ltd received 55.12 times subscription on the closing day of bidding on Friday.
The Rs 132-crore initial share sale had a fresh issue of up to 1.1 crore equity shares.
The price range for the offer was Rs 114-120 per share.
Akme Fintrade is primarily engaged in providing rural and semi-urban-centric lending solutions to customers in Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. The company's portfolio includes vehicle finance and business finance products for small business owners.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
11:27 AM IST