Akme Fintrade (India) Ltd Company Summary

Akme Fintrade (India) Ltd Summary

Akme Fintrade India Ltd was originally incorporated as Akme Fintrade (India) Private Limited dated February 5, 1996 by the RoC, Jaipur. Thereafter, Company converted to a Public Limited Company on January 05, 1997 and its name was changed to Akme Fintrade (India) Limited vide fresh Certificate of Incorporation dated March 11, 1997.The Company is a non-banking finance company (NBFC) incorporated in the year 1996 registered with the Reserve Bank of India. The Company is primarily engaged in rural and semi-urban centric lending solutions to look after the needs and aspirations of rural and semi-urban populace. The portfolio includes Vehicle Finance and Business Finance Products to small business owners. It serve rural and semi-urban markets with high growth potential and have maintained a track record of financial performance and operational efficiency through consistently high rates of customer acquisition and retention and low cost expansion into underpenetrated areas. Therefore, it focus on clients in the rural and semi urban sector.The Company has footprints in rural and semi-urban geographies in 4 Indian states Rajasthan, Maharashtra, Madhya Pradesh and Gujarat through registered office at Udaipur, Rajasthan, 7 branches and presence including digital and physical branches at more than 20 locations across India. Apart from branch network, it has reach to 24 locations digitally. The Company is headquartered in Udaipur having presence in the States of Rajasthan, Madhya Pradesh, Gujarat and Maharashtra. It operate in two principal lines of business, comprising Vehicle financing, Used Commercial Vehicle, 2 Wheeler Loans, Used 2 Wheeler Loans and Business Finance to small business owners and SME/MSME business owners. It finance the purchase of new two-wheelers and Three Wheelers, such as Scooters, motorcycles and auto rickshaws to salaried professionals and self-employed non-professionals. . It finance the purchase of used commercial vehicles, including light commercial vehicles (LCVs), which carry goods and passengers, and heavy commercial vehicles (HCVs), which carry goods. For LCVs, the customers are typically medium and small fleet operators. For HCVs, customers are typically transport operators and small businesses. The lending business to small business owners including SME and MSME lending business, primarily involves in extending secured loans for business purposes to small and medium size enterprises, including businessmen, traders, manufacturers and self-employed professionals. The property securing these loans are typically completed and largely self-occupied residential and commercial property.As at March 31, 2022, Company had more than 33,959 loans as of Vehicle Finance and MSMEs outstanding, including small enterprises, and self-employed non-professionals for their stores, retail outlets, handicrafts manufacturers and other businesses. The Company is planning to raise capital from Public by issuing 1,10,00,000 Equity Shares through Fresh Issue.