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- Akiko Global Services Ltd
Akiko Global Services Ltd
The Company commenced its operations in 2018 and is currently working as a Channel Partner (DSA) for major Banks / NBFCs. Their business model involves tele-calling, corporate activities, as well as a feet-on-street and digital marketing model to acquire customers digitally. It specialize in selling credit cards and personal loans on behalf of banks and financial institution in India. It predominantly focus on sustainable growth and expanding customer base, including telemarketing, feet-on-street, digital marketing, and corporate activities.
To continue acquiring customers effectively, it employ a multi-channel approach that maximizes reach and engagement. Their telemarketing team receives regular training to ensure effective communication and conversion rates. Their expertise is enhanced by using a Customer Relationship Management (CRM) system in day-to-day operations. All leads undergo injection and monitoring within proprietary CRM, exclusively developed by their core IT team. What distinguishes the Company from the competition is the IT team's capability to integrate with external CRMs or APIs without the need for outsourcing any customer data.
The Company propose IPO of 30,01,600 Fresh Issue Equity Shares.
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Akiko Global Services Ltd IPO Timeline
Akiko Global Services Ltd IPO opens on 25-Jun-2024, and closes on 27-Jun-2024. The Akiko Global Services Ltd IPO bid date is from 25-Jun-2024 to 27-Jun-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Akiko Global Services Ltd IPO Opening Date | 25-Jun-2024 |
| Akiko Global Services Ltd IPO Closing Date | 27-Jun-2024 |
| Basis of Allotment | 01-Jul-2024 |
| Initiation of Refunds | 01-Jul-2024 |
| Credit of Shares to Demat | 01-Jul-2024 |
| Akiko Global Services Ltd IPO Listing Date | 02-Jul-2024 |
Akiko Global Services Ltd IPO Lot Size
Akiko Global Services Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 123200).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹123200 |
| Maximum | 1 | 1600 | ₹123200 |
Akiko Global Services Ltd IPO Details
| Akiko Global Services Ltd IPO Date | 25-Jun-2024 to 27-Jun-2024 |
| Akiko Global Services Ltd IPO Face Value | Shares of ₹10 per share |
| Akiko Global Services Ltd IPO Price | ₹73 to ₹77 per share |
| Akiko Global Services Ltd IPO Lot Size | 1600 |
| Issue Size | Shares of ₹10 (aggregating up to ₹23.11 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹23.11 Cr) |
| Offer for Sale | - |
| Issue Type | Book Building - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Ankur Gaba, Priyanka Dutta, Puneet Mehta. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Implementation of ERP Solutions & TeleCRM
- 2 Mobile Application for Financial product solution
- 3 To meet working capital requirements
- 4 Enhancing visibility and awareness of its brand including but not limited to "Akiko Global" or "Moneyfair"
- 5 General corporate purposes
Company Financials
Akiko Global Services Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2023 | 11.31 | 39.59 | 4.53 |
| 03-2022 | 4.06 | 13.53 | 0.78 |
| 03-2021 | 2.35 | 6.11 | 0.23 |
| Amount in ₹ Crore | |||
- Experienced and Qualified Management and Employee base.
- Strong and Consistent Financial Performance.
- Growing customer base.
- Scalable and reliable business model.
- Experienced Promoters and Senior Management with extensive domain knowledge.
- Its top ten customers contribute approximately 93.26% of the company revenues for the financial year ended March 31, 2023. Any loss of business from one or more of them may adversely affect its revenues and profitability.
- The company does not own its Registered Office from which its operate and the same is on rental basis. If the company is required to vacate the same, due to any reason whatsoever, it may adversely affect its business operations.
- The average cost of acquisition of Equity Shares held by its Promoters is lower than the Issue Price.
- The company may not be successful in implementing its business strategies.
- Its logo `The money fair Simplify your finances' is not registered. In case of no registration its brand building efforts may be hampered which might lead to an adverse effect on its business.
- The company has a negative cash flow in some of the previous years, details of which are given below. Sustained negative cash flow could impact its growth and business.
- Its Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Its growth will depends on the company's ability to build its brand and failures to do so will negatively impact the company's ability to effectively compete in this industry.
- The company faces competition in its business from domestic competitors. Such competition would have an adverse impact on its business and financial performance.
- The company is dependent on its promoter and senior management and other key personnel, and the loss of, or its inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
- The company operates in dynamic and competitive online fintech industries, which makes it difficult to predict its future prospects.
- One of its objects of the Offer is to undertake investments in enhancing visibility and awareness of its brands, including but not limited to "Akiko Global" and "Moneyfair". The manner in which such expenditure or investment will be made, or the outcome of such expenditure or investment, is not ascertainable at this stage.
- The proper functioning of its online platform and technology infrastructure is essential to its business. Any disruption to the company's IT systems and infrastructure could materially affect its ability to maintain the satisfactory performance of its platform and deliver consistent services to the company users.
- Its business generates and processes a large amount of data, and any failures to protect confidential information, prevent cybersecurity and data breaches or improper use or disclosure of such data will materially and adversely affect its business, reputation, financial condition and results of operations.
- Its strategy to expand internationally involve risks that could increase its expenses, adversely affect the company results of operations and require increased time and attention from its management.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on its business, results of operation or financial condition.
- Its insurance coverage may not be adequate to protect the company against all potential losses to which its may be subject and this may have a material effect on the company's business and financial condition.
- The company is certain statutory and regulatory approvals for its business & proposed premises and the company's inability to renew or maintain its statutory and regulatory permits and approvals required to operate its business would adversely affect its operations and profitability.
- The Company, Directors and Promoters are not involved but may in the future, be involved in certain legal proceedings, which, if determined adversely, may adversely affect its business and financial condition.
- Its inability to manage growth could disrupt the company's business and reduce its profitability.
- The company operations could be adversely affected by disputes with employees.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- Delay in making payment of EPF, TDS and GST and Statutory fillings.
- The company has in past entered into "Related Party Transactions" and may continue to do so in the future.
- The geographical concentration of its customer base may restrict the company operations and adversely affect its business, results of operations, and financial conditions in the future.
- The company depends on a limited number of customers for significant portions of its revenues. The loss of one or more of the company significant customers or significant reduction in production and sales of, or demand for its production from our significant customers may adversely affect the company business, financial condition, result of operations and cash flows.
- Its Promoters and Directors may have interest in t the Company, other than reimbursement of expenses incurred or remuneration.
- The Objects of the Issue for which funds are being raised, are based on our management estimates and have not been appraised by any bank or financial institution or any independent agency.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Interest rate fluctuations may adversely affect the Company's business.
- Its ability to pay any dividends in the future will depends upon future earnings, financial condition, cash flows and working capital requirements.
- Any future issue of Equity Shares may dilute your shareholding and sales of its Equity Shares by the company Promoters or other major shareholders may adversely affect the trading price of the Equity Shares.
- The Issue Price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance thatsuch third-party statistical, financial and other industry information is complete, reliable oraccurate.
- You will not be able to sell immediately on Stock Exchange any of the Equity Shares you purchase in the Issue until the Issue receives appropriate trading permissions.
- QIBs and Non-Institutional Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Issue Closing Date.
- After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- No prior performance indicator.
- If the company is unable to recruit, train and retain qualified personnel, its business may be materially and adversely affected.
- Delay in paying wages.
- Enhancing Customer Acquisition.
- Strengthening Customer Retention.
- Increasing Collaboration with Banks.
- Embracing Technology.
Akiko Global Services Ltd IPO Promoter Holding
| Pre Issue Share Holding | 92.76% |
| Post Issue Share Holding | 66.90% |
Akiko Global Services Ltd IPO Subscription Status (Bidding Detail)
The Akiko Global Services Ltd IPO is subscribed 35 times on Jun 27, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 35 |
Akiko Global Services Ltd IPO Prospectus
Akiko Global Services Ltd IPO Listing Date
| Listing Date | 02 Jul 24 |
| BSE Script | 92712 |
| NSE Symbol | AKIKO |
| Listing In | NSE - SME |
| ISIN | INE0PMR01017 |
| IPO Price | ₹77 |
| Face Value | ₹10 |
Akiko Global Services Ltd IPO Registrar
Skyline Financial Services Pvt
Phone: 011- 40450193-97
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Akiko Global Services Ltd IPO Lead Manager(s)
- Fast Track Finsec Pvt Ltd
FAQs on Akiko Global Services Ltd IPO
Akiko Global Services Ltd IPO, which opens for subscription from 25-Jun-2024 to 27-Jun-2024 has an issue size of ₹23.11 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Akiko Global Services Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Akiko Global Services Ltd IPO Opens for subscription from 25-Jun-2024 to 27-Jun-2024.
The lot size of Akiko Global Services Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹123200 and ₹123200 respectively.
Allotment date for Akiko Global Services Ltd is 01-Jul-2024 and refund of application amount (in case allotment is not received) will begin from 01-Jul-2024. If your allotment goes through, then shares will be credited in your Demat account by 01-Jul-2024.
The registrar for Akiko Global Services Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.
The shares of Akiko Global Services Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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