Akiko Global Services shares hit lower circuit after listing at 27% premium

2 days ago 2

Despite weakness successful the Indian stock market, Akiko Global Services shares are listed connected the NSE astatine a important premium. Akiko Global Services stock terms opened connected the NSE SME Emerge level astatine ₹98, ₹21 per stock higher than the precocious terms set of Akiko Global Services IPO. This means the SME banal is listed connected NSE astatine implicit 27 percent premium. However, aft this beardown debut connected Dalal Street, the SME banal came nether the nett booking trigger wrong a fewer minutes of banal listing. The nett booking went further, and the banal touched an intraday debased of ₹93.10 apiece. While touching this intraday low, the NSE SMe banal touched a 5 percent precocious circuit instantly aft the stock listing.

Akiko Global Services IPO details

Akiko Global Services IPO opened connected 25th June 2024 to make ₹23.11 crore from its SME issue. The institution partners with large banks and non-banking fiscal companies (NBFCs) successful India and specializes successful distributing and selling fiscal products, specified arsenic recognition cards and loans. The institution proposes to usage the nett contented proceeds to instrumentality ERP solutions and TeleCRM, make mobile applications for fiscal merchandise solutions, conscionable moving superior requirements, heighten visibility and consciousness of the brands, and execute wide firm purposes.

Fast Track Finsec Private Limited was the book-running pb manager for the issue, and Skyline Financial Services Private Limited was the Akiko Global Services IPO registrar.

The company's platform, Money Fair, uses precocious algorithms for unbiased recognition evaluation, enhancing lawsuit options with aggregate lenders.

In FY23, Akiko Global Services reported a gross of ₹39.58 crore, EBITDA of ₹6.32 crore and a nett net of ₹4.53 crore.

For 10 months until January 2024, the company's gross was ₹26.09 crore, EBITDA was ₹4.60 crore, and nett net was ₹3.21 crore.

While launching the nationalist issue, Priyanka Dutta, Managing Director of Akiko Global Services, said, "As a Channel Partner for starring banks and NBFCs successful India, we specialize successful distributing fiscal products similar recognition cards, loans, and CASA. Our occurrence is driven by precocious integer marketing, including effectual Google SEO campaigns, and a committedness to divers selling channels specified arsenic telemarketing and integer campaigns."

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts, and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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