Aasaan Loans opened its IPO for the public on June 19 to raise Rs 132 crore. It is collecting bids at a price range of Rs 114 to Rs 125 per equity share. The company will close the subscription on June 21. It is an entirely fresh issue of 11 million shares. 

Allotment and Listing

The company’s shares are expected to be finalised on June 24, while the listing is tentatively scheduled for June 26 – will take place on the NSE and BSE. 

Minimum investment

A retail buyer needs to apply for a minimum of one lot, containing 125 shares amounting to Rs 15,000 shares. While the lot size for NIIs and QIBs is different. 

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BLRM

Gretex Corporate Services is the book-running lead manager, and Bigshare Services is handling the work of the registrar for the issue.

About Aasaan Loans

The NBFC is registered with the Reserve Bank of India as a non-systemically important non-deposit-taking entity, specializing in rural and semi-urban lending solutions in India. The company’s portfolio includes vehicle finance and business finance products for small business owners. Currently, the company is preparing to launch its digital lending platform, which initially focuses on Two-wheeler finance for rural and semi-urban customers. Future phases will introduce products like loans against property, commercial vehicle financing, and secured business loans. 

Expert’s take on IPO

“The company is looking to bolster its capital base so it can fund its future capital requirements as the business grows. Given the small size of the company and the valuation of the IPO, we advise to “Subscribe” to the IPO for listing gains,” said Master Capital Services.