Akiko Global Services, a company that helps banks and financial institutions find new customers, got a decent response on the first day of its initial public offering (IPO) today, June 25th, 2024. As of 2:05 PM, investors had subscribed to about half of the shares offered by the company.
So far, investors have applied for roughly 10.44 lakh (104,400) shares, while Akiko Global Services offered 20.81 lakh (208,100) shares. This translates to a 50% subscription rate overall.
- Retail Investors: This category, which includes individual investors like you and me, has subscribed to 96% of their allocated shares.
- Non-Institutional Investors (NII): This category, which includes smaller investment firms, has subscribed to only 20% of their allocated shares.
A 50% subscription on the first day is a fair start for Akiko Global Services’ IPO. It indicates some investor interest, particularly from retail investors. However, it’s still early to say whether the IPO will be fully subscribed by the closing date on June 27th, 2024.
Other Important Details about the IPO
Here are some additional details to consider:
- Issue Price: The company is offering its shares in a price range of ₹73 to ₹77 per share.
- Company Financials: In the last financial year (FY23), Akiko Global Services reported a revenue of ₹39.58 crore (₹395.8 million), earnings before interest, taxes, depreciation, and amortization (EBITDA) of ₹6.32 crore (₹63.2 million), and a net profit of ₹4.53 crore (₹45.3 million).
Final Thoughts
It’s important to remember that IPO investment carries risk. Before making any decisions, thoroughly research the company, understand its business model, and assess your own financial goals and risk tolerance. Seeking guidance from a financial advisor can be beneficial as well.