Akme Fintrade IPO: Today, June 26, 2024, has been set aside as the listing date for Akme Fintrade (India) Limited’s initial public offering. The BSE announcement states that the equity shares of Akme Fintrade (India) will be listed and admitted to trades on Indian exchanges in the ‘T’ group of securities list as of Wednesday, June 26, 2024. Because the company will be listed in the trade-to-trade category, it will not be possible to buy and sell Akme Fintrade shares on the same day after listing. On the other hand, during Wednesday deals, investors will be able to purchase Akme Fintrade shares on the BSE and NSE starting at 10:00 AM.
All categories of the Akme Fintrade IPO were oversubscribed, and the optimistic sentiment in the stock market suggests that Akme Fintrade shares will have a successful debut. Market watchers report that shares of Akme Fintrade are currently available on the grey market for ₹17 premium.
Price forecast for Akme Fintrade’s IPO listing
A clear indication of the potential of the Akme Fintrade (India) Ltd. IPO is the oversubscription in all categories, with a final day oversubscription of 53.78 times as of June 21, according to VLA Ambala, a research analyst registered with SEBI and the founder of Stock Market Today. To provide some context, the retail portion, qualified institutional buyer’s portion, and NII portion were subscribed to 43.35, 129.34, and 28.12 times, respectively. There seems to be a lot of investor interest in Akme Fintrade because this amount of oversubscription is far higher than the average for IPOs over the last year. An asking price above the ₹120 pricing range could result from this.
Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, however, has a more upbeat outlook and believes Akme Fintrade shares will have a strong debut. He draws attention to the issue’s aggressive price, which is predicated on FY24 profitability, as well as the company’s 20 years of expertise lending to rural and semi-urban areas in India. Potential investors should be excited by the prospect of a listing gain of almost 40 percent, which he anticipates would occur at a price of between ₹170 and ₹180 per share.
IPO GMP of Akme Fintrade today
Market watchers estimate that the grey market premium (GMP) for the Akme Fintrade IPO is currently ₹17. The difference between the IPO’s issue price and the price it is selling at in the grey market is known as the “grey market premium.” The market anticipates that the IPO listing price will exceed the issue price, as indicated by a positive GMP. According to the GMP, the Akme Fintrade IPO listing price in this instance will be about ₹137 (₹120 + ₹17).
(Disclaimer: The opinions and suggestions mentioned are from individual analysts, experts, and broking firms, not endorsed by Businessuncover. Investors should consult certified experts before deciding on investments.)
