Akiko Global Services stock debuts with 27% premium on NSE SME platform
Akiko Global Services debuted on the NSE SME platform with a 27.27% premium. The IPO was oversubscribed 30 times. The company focuses on credit cards and loans, using direct selling for product demos. In January 2024, their revenues were Rs 26.09 crore, with a profit after tax of Rs 3.21 crore.
The shares of debuted on the platform on Tuesday with a of 27.27%. The stock listed at Rs 98 as against an offer price of Rs 77.Ahead of the listing, the company's shares traded with a premium of Rs 15 in the unlisted market.
The , which was completely a fresh equity sale of 30.01 lakh shares received a healthy response from investors with an overall subscription of 30 times at close.
The company proposes to use the net proceeds for implementation of ERP Solution and TeleCRM, mobile application for financial product solution, to meet working capital requirements, enhancing visibility and awareness, general corporate purposes and issue expenses.
Founded in 2018, the company is currently working as a channel partner (DSA) for major banks and NBFCs. The business model involves tele-calling, corporate activities, as well as a feet on-street and digital marketing model to acquire customers digitally.
The company's proficiency lies in the field of credit cards and loans, empowering us to offer extensive guidance and assistance to individuals and businesses as they navigate the expansive landscape of financial products.
"Whether it's finding the right credit card for maximizing rewards and benefits, or securing the most suitable loan for personal or business needs, our team is dedicated to delivering informed and tailored recommendations," it said.
As it continues to grow, the company said it is committed to continually evaluating and improving key activities to enhance customer satisfaction and optimize business processes.
By combining the expertise of team members, the power of digital marketing, the effectiveness of our telemarketing approach, and our strong network of Feet-on-street, Akiko Global claims to strive to provide an exceptional and seamless experience for its customers.
Direct selling is a method of marketing and retailing goods or services directly to consumers, through personal contact, away from permanent retail premises. The products or services are sold through active direct sellers, who act as individual representatives of the direct selling entities. These sellers carry out product demonstrations while making such sales.
For the period ended January 2024, the company has clocked revenues of Rs 26.09 crore, while after tax stood at Rs 3.21 crore.
Source: Stocks-Markets-Economic Times
