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Akiko Global Services Limited IPO (The Money Fair IPO) Detail

June 25, 2024 - June 27, 2024

The Money Fair IPO is a book built issue of Rs 23.11 crores. The issue is entirely a fresh issue of 30.02 lakh shares.

The Money Fair IPO bidding started from June 25, 2024 and ended on June 27, 2024. The allotment for The Money Fair IPO was finalized on Monday, July 1, 2024. The shares got listed on NSE SME on July 2, 2024.

The Money Fair IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹123,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹246,400.

Fast Track Finsec Pvt Ltd is the book running lead manager of the The Money Fair IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for The Money Fair IPO is Nikunj Stock Brokers.

Refer to The Money Fair IPO RHP for detailed information.

The Money Fair IPO Details

IPO Date June 25, 2024 to June 27, 2024
Listing Date July 2, 2024
Face Value ₹10 per share
Price Band ₹73 to ₹77 per share
Lot Size 1600 Shares
Total Issue Size3,001,600 shares
(aggregating up to ₹23.11 Cr)
Fresh Issue3,001,600 shares
(aggregating up to ₹23.11 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue7,768,000
Share holding post issue10,769,600
Market Maker portion150,400 shares
Nikunj Stock Brokers

The Money Fair IPO Reservation

The Money Fair IPO offers 3,086,400 shares. 654,400 (21.20%) to QIB, 428,800 (13.89%) to NII, 998,400 (32.35%) to RII and 854,400 (27.68%) to Anchor investors.

Investor Category Shares Offered
Anchor Investor Shares Offered854,400 (27.68%)
Market Maker Shares Offered150,400 (4.87%)
QIB Shares Offered654,400 (21.20%)
NII (HNI) Shares Offered428,800 (13.89%)
Retail Shares Offered998,400 (32.35%)
Total Shares Offered3,086,400 (100%)

The Money Fair IPO Anchor Investors Details

The Money Fair IPO raises Rs 6.58 crore from anchor investors. The Money Fair IPO Anchor bid date is June 24, 2024. The Money Fair IPO Anchor Investors list

Bid Date June 24, 2024
Shares Offered 854,400
Anchor Portion Size (In Cr.) 6.58
Anchor lock-in period end date for 50% shares (30 Days) July 31, 2024
Anchor lock-in period end date for remaining shares (90 Days) September 29, 2024

The Money Fair IPO Timeline (Tentative Schedule)

The Money Fair IPO opens on June 25, 2024, and closes on June 27, 2024.

IPO Open Date Tuesday, June 25, 2024
IPO Close Date Thursday, June 27, 2024
Basis of Allotment Monday, July 1, 2024
Initiation of Refunds Monday, July 1, 2024
Credit of Shares to Demat Monday, July 1, 2024
Listing Date Tuesday, July 2, 2024
Cut-off time for UPI mandate confirmation 5 PM on June 27, 2024

The Money Fair IPO Lot Size

Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 1600 ₹123,200
Retail (Max) 1 1600 ₹123,200
HNI (Min) 2 3,200 ₹246,400
Lot Size Calculator

The Money Fair IPO Promoter Holding

The promoters of the company are Mr. Gurjeet Singh Walia, Ms. Richa Arora, Mr. Ankur Gaba, Mr. Puneet Mehta and Ms. Priyanka Dutta.

Share Holding Pre Issue 92.77%
Share Holding Post Issue 66.91%

About Akiko Global Services Limited

Incorporated in June 2018, Akiko Global Services Limited partners with major banks and non-banking financial companies (NBFCs) in India. The company has six years of experience and specializes in distributing and selling financial products, such as credit cards and loans.

The company specializes in helping banks and financial institutions in India sell credit cards and personal loans.

The Money Fair, powered by Akiko Global Services Limited, is a technology platform that uses algorithms to gather and analyze data to assess creditworthiness. It provides insights for easy comparison of offers and aims to increase the chances of securing a loan or a card for customers.

As of April 30, 2024, the company employs 418 permanent staff, including its directors and key managerial personnel.

Akiko Global Services Limited Financial Information (Restated)

Period Ended31 Jan 202431 Mar 202331 Mar 202231 Mar 2021
Assets1,794.911,130.87405.67234.88
Revenue2,609.763,958.971,353.31610.78
Profit After Tax321.48453.2677.8522.98
Net Worth1,403.37578.40123.1445.29
Reserves and Surplus626.57574.40121.1443.29
Total Borrowing122.0595.8926.1349.62
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of The Money Fair IPO is Rs 82.93 Cr.

KPI as of January 31, 2024.

KPI Values
ROE32.44%
ROCE29.23%
Debt/Equity0.09
RoNW22.91%
P/BV3.75
PAT Margin (%)12.41
Pre IPO Post IPO
EPS (Rs) 5.833.58
P/E (x) 13.221.5
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of January 31, 2024 that is available in RHP.

Objects of the Issue (The Money Fair IPO Objectives)

The company intends to utilize the proceeds of the Issue to meet the following objectives: -

  • Implementation of ERP Solution and TeleCRM
  • Mobile Application for financial product solution
  • To meet working capital requirements.
  • Enhancing visibility and awareness of the brands, including but not limited to "Akiko Global" or "Moneyfair
  • General Corporate Purpose; and
  • Issue Expenses

The Money Fair IPO Review (May apply)

[Dilip Davda]  The company is a channel partner for NBFCs and Banks. It posted growth in its top and bottom lines for the reported periods, but the sudden boost in pre-IPO year raise eyebrows. Based on FY24 annualized super earnings, the issue appears aggressively priced. Well-informed investors may park moderate fund for long term. Read detail review...


The Money Fair IPO Subscription Status (Bidding Detail)

The The Money Fair IPO is subscribed 34.96 times on June 27, 2024 6:19:56 PM. The public issue subscribed 45.57 times in the retail category, 10.21 times in the QIB category, and 48.05 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB10.21
NII48.05
Retail45.57
Total34.96

Total Application : 28,436 (45.57 times)

The Money Fair IPO Prospectus

The Money Fair IPO Rating

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Rating:Rated 1.0 stars
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The Money Fair IPO Listing Details

Listing Date July 2, 2024
BSE Script Code
NSE Symbol AKIKO
ISIN INE0PMR01017
Final Issue Price ₹77 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹77.00
₹98.00
₹93.10
₹98.00
₹93.35

Check IPO Performance…

Akiko Global Services Limited Contact Details

Akiko Global Services Limited
11th Floor, Off. No. 8/4-D, Vishwadeep Building
District Centre Janak Puri
West Delhi, New Delhi-110058
Phone: 011-4010 4241
Email: accounting@akiko.co.in
Website: http://www.themoneyfair.com/

The Money Fair IPO Registrar

Skyline Financial Services Private Ltd

Phone: 02228511022
Email: compliances@skylinerta.com
Website: https://www.skylinerta.com/ipo.php

The Money Fair IPO - Buy or Not

The Money Fair IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 0

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The Money Fair IPO FAQs

The Money Fair IPO is a SME IPO of 3,001,600 equity shares of the face value of ₹10 aggregating up to ₹23.11 Crores. The issue is priced at ₹73 to ₹77 per share. The minimum order quantity is 1600 Shares.

The IPO opens on June 25, 2024, and closes on June 27, 2024.

Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in The Money Fair IPO using UPI as a payment gateway. Zerodha customers can apply in The Money Fair IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in The Money Fair IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'The Money Fair IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The The Money Fair IPO opens on June 25, 2024 and closes on June 27, 2024.

The Money Fair IPO lot size is 1600 Shares, and the minimum amount required is ₹123,200.

You can apply in The Money Fair IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for The Money Fair IPO will be done on Monday, July 1, 2024, and the allotted shares will be credited to your demat account by Monday, July 1, 2024. Check the The Money Fair IPO allotment status.

The The Money Fair IPO listing date is on July 2, 2024.
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The Money Fair IPO Message Board

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