Despite weakness in the Indian stock market, Akiko Global Services shares are listed on the NSE at a substantial premium.
Akiko Global Services share price opened on the NSE SME Emerge platform at ₹98, ₹21 per share higher than the upper price band of Akiko Global Services IPO.
While touching this intraday low, the NSE SMe stock touched a 5 percent upper circuit immediately after the share listing.
Akiko Global Services IPO details Akiko Global Services IPO opened on 25th June 2024 to generate ₹23.11 crore from its SME issue.
Fast Track Finsec Private Limited was the book-running lead manager for the issue, and Skyline Financial Services Private Limited was the Akiko Global Services IPO registrar.
Despite weakness in the Indian stock market, Akiko Global Services shares are listed on the NSE at a substantial premium. Akiko Global Services share price opened on the NSE SME Emerge platform at ₹98, ₹21 per share higher than the upper price band of Akiko Global Services IPO. This means the SME stock is listed on NSE at over 27 percent premium. However, after this strong debut on Dalal Street, the SME stock came under the profit booking trigger within a few minutes of stock listing. The profit booking went further, and the stock touched an intraday low of ₹93.10 apiece. While touching this intraday low, the NSE SMe stock touched a 5 percent upper circuit immediately after the share listing.
Akiko Global Services IPO details Akiko Global Services IPO opened on 25th June 2024 to generate ₹23.11 crore from its SME issue. The company partners with major banks and non-banking financial companies (NBFCs) in India and specializes in distributing and selling financial products, such as credit cards and loans. The company proposes to use the net issue proceeds to implement ERP solutions and TeleCRM, develop mobile applications for financial product solutions, meet working capital requirements, enhance visibility and awareness of the brands, and achieve general corporate purposes.
Fast Track Finsec Private Limited was the book-running lead manager for the issue, and Skyline Financial Services Private Limited was the Akiko Global Services IPO registrar.
The company's platform, Money Fair, uses advanced algorithms for unbiased credit evaluation, enhancing customer options with multiple lenders.
In FY23, Akiko Global Services reported a revenue of ₹39.58 crore, EBITDA of ₹6.32 crore and a net profit of ₹4.53 crore.
For 10 months until January 2024, the company's revenue was ₹26.09 crore, EBITDA was ₹4.60 crore, and net profit was ₹3.21 crore.
While launching the public issue, Priyanka Dutta, Managing Director of Akiko Global Services, said, “As a Channel Partner for leading banks and NBFCs in India, we specialize in distributing financial products like credit cards, loans, and CASA. Our success is driven by advanced digital marketing, including effective Google SEO campaigns, and a commitment to diverse marketing channels such as telemarketing and digital campaigns.”
