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 opens for subscription on June 25, 2024 and closes on June 27, 2024. The allotment for the The Money Fair IPO is expected to be finalized on Monday, July 1, 2024. The Money Fair IPO will list on NSE SME with tentative listing date fixed as Tuesday, 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 | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹77 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,001,600 shares (aggregating up to ₹23.11 Cr) |
| Fresh Issue | 3,001,600 shares (aggregating up to ₹23.11 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 7,768,000 |
| Share holding post issue | 10,769,600 |
| Market Maker portion | 150,400 shares Nikunj Stock Brokers |
The Money Fair IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
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.
| 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 Ended | 31 Jan 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,794.91 | 1,130.87 | 405.67 | 234.88 |
| Revenue | 2,609.76 | 3,958.97 | 1,353.31 | 610.78 |
| Profit After Tax | 321.48 | 453.26 | 77.85 | 22.98 |
| Net Worth | 1,403.37 | 578.40 | 123.14 | 45.29 |
| Reserves and Surplus | 626.57 | 574.40 | 121.14 | 43.29 |
| Total Borrowing | 122.05 | 95.89 | 26.13 | 49.62 |
| 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 |
|---|---|
| ROE | 32.44% |
| ROCE | 29.23% |
| Debt/Equity | 0.09 |
| RoNW | 22.91% |
| P/BV | 3.75 |
| PAT Margin (%) | 12.41 |
Check The Money Fair IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.83 | 3.58 |
| P/E (x) | 13.2 | 21.5 |
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 Prospectus
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