Akiko Global Services IPO allotment: Here’s how to check status on NSE, Skyline Financial Services

Akiko Global Services Ltd IPO share allotment status is likely to be announced on July 1, following the end of the subscription period. The SME public offer, which closed for bidding on June 27, received a strong response from investors. According to the company’s RHP, share allotment status will be finalised on July 1 while refunds will also be issued the same day.

Investors can easily check share allocation details for Akiko Global Services Ltd.'s initial public offering (IPO) on the official registrar’s portal and the NSE website. Skyline Financial Services Pvt Ltd is the IPO's registrar.

Steps to check Akiko Global Services IPO share allotment on registrar website

• Visit official website of Skyline Financial Services Pvt Ltd (https://www.skylinerta.com)
• Click on Investors and select Public Issues
• Select Akiko Global Services from drop down list
• Fill Client ID, Application No or PAN details
• Click on the ‘Search’ button

Steps to check Akiko Global Services share allotment on NSE website

• Go to NSE IPO allotment status check page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Investors need to create Login & Password)
• Select Akiko Global Services
• Verify PAN No
• Enter IPO application No
• Click on Submit

Akiko Global Services IPO subscription

The IPO of Akiko Global Services opened for subscription on June 25 and closed on June 27.

According to the exchange data, the public offer of Akiko Global Services was booked nearly 35 times on the final day of the bidding on Thursday. Applications for 7.27 crore shares worth ₹560.41 crore were received against 20.81 lakh shares on offer.

Among the investors’ category, retail quota was booked more than 45 times. Bids for 4.54 crore shares were received against 9.98 lakh shares on offer for subscription. Qualified Institutional Buyers’ portion was booked 10.21 times. Bids for 66.80 lakh shares were garnered against 6,54,400 shares on offer.

Non-Institutional Investors subscribed their category 48.05 times. Bids for 2.06 crore shares were received against 4,28,800 shares on offer.

Akiko Global Services IPO details

The ₹23.11-crore IPO of Akiko Global Services, which operates under the Money Fair brand, was a fresh issue of 30.02 lakh shares. The company fixed the price band at ₹73 to ₹77 per share. The minimum lot size was 1,600 shares and the minimum investment required was ₹1,23,200.

Fast Track Finsec Pvt Ltd is the book-running lead manager. Skyline Financial Services Private Ltd is the IPO registrar.

Akiko Global Services IPO objective

The Money Fair is a channel partner for leading banks and NBFCs in India. The company launched operations in 2018. Its business involves tele-calling, corporate activities, and a feet-on-street and digital marketing model for customer acquisition. The mainly distributes financial products such as credit cards and loans.

The company has deployed a Customer Relationship Management system for its day-to-day operations.

The company has proposed to utilise ₹1.70 crore of the IPO proceeds for the implementation of an ERP Solution and TeleCRM.

It will utilise ₹2.8 crore to launch its mobile application for financial product solutions. It would use ₹2 crore to increase visibility and awareness about its brands. The company has proposed to use ₹11.38 crore to meet working capital requirements.

To know more about IPOs listing, schedule and upcoming IPOs, click here