The Money Fair- Akiko Global Service IPO: Review, Date & GMP

The Money Fair (Akiko Global Service LTD) IPO-Complete Overview

Founded in June 2018, Akiko Global Services Limited works with India's largest banks and non-banking financial companies (NBFCs). The organization has six years of expertise and focuses on distributing and selling financial items including credit cards and loans. The company helps Indian banks and financial institutions market credit cards and personal loans.

The Money Fair, sponsored by Akiko Global Services Limited, is a digital platform that collects and analyzes creditworthiness data using algorithms. It provides information for quick offer comparison and tries to boost consumers' chances of obtaining a loan or credit card.

Their daily activities use a Customer Relationship Management ("CRM") system. All leads are injected and monitored within the CRM built by the company. Their CRM is designed with features that protect customer information from all threats.

As of April 30, 2024, the company has 418 permanent employees, including directors and key management professionals.

Dear readers, we are pleased to provide details about the approaching IPO. The company plans to launch its IPO on June 25, 2024.

Let's take a closer look at the IPO's offerings below.

The Money Fair (Akiko Global Service LTD) IPO Overview

The Money Fair (Akiko Global Service LTD) IPO is an SME book-built issue of Rs.23.11 crore with a whole Fresh Issue of 3,001,600 shares (amounting to Rs.23.11 crore) out of which 35% is allocated to retail investors, 50% to institutional investors and 15% to non-institutional investors. 

On June 25, 2024, investors will be able to participate in the IPO, which will end on June 27, 2024. The anticipated listing date for the IPO is Tuesday, July 2, 2024, and it will be held on the NSE and SME. The price band of the share is Rs.73 to Rs.77.

If You want to apply for this IPO, Click Here to Open a Demat Account.

 

 

Company Financial

Below is the synopsis of the company's financial data for the financial year that concluded on 31 March 2022.

• The company’s total revenue is Rs.1 crore -100 crore.

• The net worth of the company has climbed by 171.88%.

• The company's EBITDA is gained by 213.27%.

• The total assets of the company rose by 84.21%.

• The company's liabilities climbed by 63.68 %.

(Amount in Lacs)

Period	31 Jan 2024	31 Mar 2023	31 Mar 2022
Total Assets	1,794.91	1,130.87	405.67
Total Revenue	2,609.76	3,958.97	1,353.31
PAT	321.48	453.26	77.85
Net worth	1,403.37	578.40	123.14
Reserve & Surplus	626.57	574.40	121.14
Total Borrowings	122.05	95.89	26.13

 

Revenue Bifurcation

Below is the revenue breakdown for various activities.

(Amount in Lacs)

Net Cash flow in multiple Activities	31 Aug 2023	31 Mar 2023	31 Mar 2022
Net Cash Flow Operating Activities	262.89	52.62	12.53
Net Cash Flow Investing Activities	1.41	28.98	14.98
Net Cash Flow Financing Activities	170.94	68.37	25.77

 

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfil its following goals:

• To implement ERP and TeleCRM solutions.

• Mobile applications for financial products.

• To meet the working capital necessities.

• Improving brand visibility and awareness, such as "Akiko Global" and "Moneyfair,"

• Establishing a corporate purpose and issuing expenses.

 

Peers of The Money Fair (Akiko Global Service LTD)

No listed peer in India of similar portfolio.

 

Evaluation

The pricing range for this IPO is Rs.73 to Rs.77 per share.

Evaluation of P/E Ratio

The P/E Ratio of The Money Fair (Akiko Global Service LTD) IPO is 21.51.

Comparative Analysis with Listed Peers

The company says it has no similar size of business listed in India

 

 

IPO's Strengths

• Management and employees are experienced and qualified.

• Solid and consistent financial performance.

• Increasing consumer base.

• The business concept is scalable and trustworthy.

• Proven promoters and senior management with deep domain understanding.

 

IPO’s Weaknesses 

• For the fiscal year that concluded on March 31, 2023, the company's top 10 clients accounted for roughly 93.26% of its total revenue. Any decline in business from one or more of them could have a negative impact on its earnings.

• The business rents its Registered Office, from which it operates, rather than owning it. The company's commercial operations may suffer if it is forced to leave the same location for whatever reason.

• The Promoters' average purchase cost of Equity Shares is less than the Issue Price.

• The business's efforts to execute its business strategies could not be successful.

• There is no registration for its logo, "The money fair simplifies your finances." if it is not registered, it could have a negative impact on its business.

• The company has had negative cash flow in a few prior years. A persistently negative cash flow could harm the company's expansion.

• Following the Issue, the Company's Promoters and members of the Promoter Group will continue to jointly have majority control over it, enabling them to decide how to vote on issues that are brought before shareholders for approval.

 

IPO GMP Today

The Money Fair (Akiko Global Service LTD) IPO’s latest GMP is Rs.5.

 

The Money Fair (Akiko Global Service LTD) IPO Timetable (Tentative)

The IPO is scheduled from June 25 to June 27, 2024, with allotment on July 1, refund initiation on July 1, and listing on July 2, 2024.

Events	Date
IPO Opening Date	June 25, 2024
IPO Closing Date	June 27, 2024
IPO Allotment Date	July 1, 2024
Refund initiation	July 1, 2024
IPO Listing Date	July 2, 2024

 

The Money Fair (Akiko Global Service LTD) IPO Details 

The IPO with a face value of Rs.10 per share is set to start on June 25, close on 27 June, and offer a total issue size, a whole fresh issue of  3,001,600 shares (amounting up to Rs.23.11 crore).

IPO Opening & Closing Date	June 25, 2024 to June 27, 2024
Face Value	Rs.10 per share
Issue Size	Rs.23.11 crore
Offer for Sale	Nil
Fresh Issue	Rs.23.11 crore
Listing at	NSE, SME
Issue Type	Book Built Issue IPO
Registrar	Skyline Financial Services Private Ltd

 

 

The Money Fair (Akiko Global Service LTD) IPO Lot Details 

The IPO permits retail investors to participate in a minimum and maximum of 1 lot (1600 shares) up to Rs.123200, while for HNI investors, the minimum lot is 2 (3200 shares) amounting to Rs.246400.

Minimum Lot Investment (Retail)	1 lot
Maximum Lot Investment (Retail)	1 lot
HNI (Min)	2 lots

 

The Money Fair (Akiko Global Service LTD) IPO Reservation

QIB Share Portion	50%
Retail Investors Share Portion	35%
NII Shares Portion	15%

 

Promoters and Management of The Money Fair (Akiko Global Service LTD) IPO

• Mr. Gurjeet Singh Walia

• Ms. Richa Arora

• Mr. Ankur Gaba

• Mr. Puneet Mehta 

• Ms. Priyanka Dutta

Pre-issue Promoter shareholding	92.77%
Post-issue Promoter shareholding	66.91%

 

The Money Fair (Akiko Global Service LTD) IPO Lead Managers

Fast Track Finsec Pvt Ltd 

 

Dividend Policy

The company has no such Dividend policy. 

 

Conclusion

The company has noticed a rise in its total revenue and an increase in net worth in the previous Financial Year(s). To fulfil its objectives, the company is currently conducting an initial public offering (IPO) for the general public.

We believe the information offered in this blog helps you learn about the company's financial performance. So this blog will be very useful to you if you are looking for information about the approaching IPO since it will give you reliable information about the company's insights, financials, and past performance. If this informative blog piques your interest, you may be interested in reading our other related and useful posts on our website.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

We believe this blog would be very beneficial to you if you are looking for such information related to this upcoming IPO since this blog would provide you with accurate information about the company's, insights, financials, and past performance. If this informative blog matches your interest, you might be interested in reading our other related useful blogs on our website.

Disclaimer: This IPO analysis is only for informational purposes and should not be considered as investment advice. Always do your research and consult with a financial advisor.

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