PNN
Mumbai (Maharashtra) [India], June 21: Akiko Global Services Limited, specializing in the distribution of financial products such as credit cards, loans and CASA, has announced plans to go public with an Initial Public Offering (IPO) on the 25th. of June. 2024. The company aims to raise Rs 23.11 crore in the upper band through this IPO, and the shares will be listed on the NSE Emerge platform.
The issue size is up to 30,01,600 equity shares at a face value of Rs 10 each.
Share Allocation
*QIB anchor portion: up to 8,54,000 equity shares
*Qualified Institutional Buyers (QIB): Up to 5,69,600 equity shares
* Non-institutional investors: up to 4,28,800 equity shares
* Retail Individual Investors (RII): up to 9.98,400 shares
* Market maker: up to 1,50,400 equity shares
The net proceeds from the IPO will be used for implementation of ERP and TeleCRM solutions, development of mobile applications for financial product solutions, meeting working capital requirements, improving brand visibility and awareness and general corporate purposes. Bidding for the Anchor part will open on June 24, 2024, the edition will open for subscriptions for all other categories from June 25, 2024 and will close on June 27, 2024.
The lead manager of the issue is Fast Track Finsec Private Limited. The registrar of the issue is Skyline Financial Services Private Limited. The market maker of the issue is Nikunj Stockbroker Limited.
Priyanka Dutta, Managing Director, Akiko Global Services Limited, said, "As we embark on this journey with our upcoming IPO, I am truly excited about the growth prospects of Akiko Global Services Limited. As a channel partner for leading banks and NBFCs in India, We specialize in the distribution of financial products such as credit cards, loans and CASA Our success is driven by advanced digital marketing, including effective Google SEO campaigns, and a commitment to various marketing channels. , such as telemarketing and digital campaigns.
Our platform, Money Fair, uses advanced algorithms for unbiased credit assessment, improving customers' choices with multiple lenders. This strategic injection of capital will strengthen our capabilities and propel us to achieve even greater milestones in the market. “This IPO marks an important milestone in our journey, opening up new opportunities as we enter the public market.”
Vikas Kumar Verma, Director, Fast Track Finsec Private Limited, said: "The Indian credit card market has demonstrated robust growth, driven by increasing adoption of e-commerce, contactless payments and innovative product offerings. This growth trend has been accompanied by a notable increase in the issuance of credit cards.
Akiko Global Services Limited is committed to innovating and meeting the changing demand for sophisticated financial solutions in India. The proceeds from our upcoming IPO will be used to implement ERP solutions, TeleCRM, launch a mobile application for financial products, address working capital needs and enhance brand visibility “Akiko Global” and “Moneyfair”. These strategic initiatives aim to capitalize on current market dynamics and drive Akiko's growth. We extend our sincere wishes for continued success to Akiko Global Services Limited.”
Mumbai (Maharashtra) [India], June 21: Akiko Global Services Limited, specializing in the distribution of financial products such as credit cards, loans and CASA, has announced plans to go public with an Initial Public Offering (IPO) on the 25th. of June. 2024. The company aims to raise Rs 23.11 crore in the upper band through this IPO, and the shares will be listed on the NSE Emerge platform.
The issue size is up to 30,01,600 equity shares at a face value of Rs 10 each.
Share Allocation
*QIB anchor portion: up to 8,54,000 equity shares
*Qualified Institutional Buyers (QIB): Up to 5,69,600 equity shares
* Non-institutional investors: up to 4,28,800 equity shares
* Retail Individual Investors (RII): up to 9.98,400 shares
* Market maker: up to 1,50,400 equity shares
The net proceeds from the IPO will be used for implementation of ERP and TeleCRM solutions, development of mobile applications for financial product solutions, meeting working capital requirements, improving brand visibility and awareness and general corporate purposes. Bidding for the Anchor part will open on June 24, 2024, the edition will open for subscriptions for all other categories from June 25, 2024 and will close on June 27, 2024.
The lead manager of the issue is Fast Track Finsec Private Limited. The registrar of the issue is Skyline Financial Services Private Limited. The market maker of the issue is Nikunj Stockbroker Limited.
Priyanka Dutta, Managing Director, Akiko Global Services Limited, said, "As we embark on this journey with our upcoming IPO, I am truly excited about the growth prospects of Akiko Global Services Limited. As a channel partner for leading banks and NBFCs in India, We specialize in the distribution of financial products such as credit cards, loans and CASA Our success is driven by advanced digital marketing, including effective Google SEO campaigns, and a commitment to various marketing channels. , such as telemarketing and digital campaigns.
Our platform, Money Fair, uses advanced algorithms for unbiased credit assessment, improving customers' choices with multiple lenders. This strategic injection of capital will strengthen our capabilities and propel us to achieve even greater milestones in the market. “This IPO marks an important milestone in our journey, opening up new opportunities as we enter the public market.”
Vikas Kumar Verma, Director, Fast Track Finsec Private Limited, said: "The Indian credit card market has demonstrated robust growth, driven by increasing adoption of e-commerce, contactless payments and innovative product offerings. This growth trend has been accompanied by a notable increase in the issuance of credit cards.
Akiko Global Services Limited is committed to innovating and meeting the changing demand for sophisticated financial solutions in India. The proceeds from our upcoming IPO will be used to implement ERP solutions, TeleCRM, launch a mobile application for financial products, address working capital needs and enhance brand visibility “Akiko Global” and “Moneyfair”. These strategic initiatives aim to capitalize on current market dynamics and drive Akiko's growth. We extend our sincere wishes for continued success to Akiko Global Services Limited.”
