(PTI) Non banking financial company Akme Fintrade (India) Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).
The public issue comprises fresh issuance of 1.1 crore equity shares and no offer for sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP).
Proceeds of the issue will be used to argument capital base of the company.
Udaipur-based Akme Fintrade is primarily engaged in providing rural and semi-urban centric lending solution to customers in four states -- Rajasthan, Maharashtra, Madhya Pradesh and Gujarat.
The company's portfolio includes vehicle finance and business finance products to small business owners.
Gretex Corporate Services Ltd is the sole book running lead manager to the issue. The equity shares of the company will be listed on the BSE and NSE.
