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Akiko Global Services Limited, originally incorporated as Akiko Global Services Private Limited on June 13, 2018, is gearing up for its Initial Public Offering (IPO). The company, which transitioned to a public limited company on April 12, 2023, is set to open its IPO for subscription from June 25, 2024, to June 27, 2024. This IPO marks a significant milestone in the company’s journey as it aims to raise funds for various strategic initiatives. It specialize in selling credit cards and personal loans on behalf of banks and financial institution in India.
Strategic Initiatives
Akiko’s strategic initiatives are designed to enhance customer acquisition, retention, and collaboration with banks, while also embracing technological advancements.
1. Enhancing Customer Acquisition:
i. Multi-channel Approach: Akiko employs a diverse strategy to maximize reach and engagement. The telemarketing team receives regular training to improve communication and conversion rates.
ii. Digital Marketing: Investments in SEO, PPC advertising, social media marketing, WhatsApp, and email campaigns help increase brand visibility and attract a wider audience.
iii. Feet-on-Street Strategy: Field representatives target high foot traffic areas, building personalized relationships and guiding potential customers in making informed financial decisions.
2. Strengthening Customer Retention:
i. Customer Satisfaction: Akiko prioritizes prompt and personalized support from its customer service team.
ii. Regular Communication: Targeted promotional offers and regular engagement help maintain strong connections with existing customers.
iii. Cross-selling and Upselling: Continued interaction allows for identifying opportunities to offer additional financial products and services, catering to evolving customer needs.
3. Increasing Collaboration with Banks:
i. Deepening Relationships: Akiko aims to strengthen ties with banks, showcasing its expertise, exceptional customer support, and innovative marketing approach.
ii. Exclusive Products: Enhanced collaboration can lead to exclusive product offerings and features, providing a competitive edge.
4. Embracing Technology:
i. Innovative Solutions: Akiko invests in advanced analytics and AI-driven algorithms to optimize marketing efforts, personalize offerings, and predict customer behavior.
ii. User-friendly Mobile Application: The development of a secure mobile app empowers customers with real-time access to credit card and loan information, as well as self-service options.
Objectives of the IPO
The net proceeds from the IPO will be used for the following purposes:
- Implementation of ERP Solutions and TeleCRM
- Development of a Mobile Application for Financial Product Solutions
- Meeting Working Capital Requirements
- Enhancing Visibility and Awareness of the Brand, including “Akiko Global” or “Moneyfair”
- General Corporate Purposes
IPO Details
Key Dates and Information
- IPO Opening Date: June 25, 2024
- IPO Closing Date: June 27, 2024
- Basis of Allotment: July 1, 2024
- Initiation of Refunds: July 1, 2024
- Credit of Shares to Demat: July 1, 2024
- Listing Date: July 2, 2024
IPO Investor Categories
- Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes of insurance companies, and pension schemes. - Non-Institutional Investors(NII)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc who bid for shares worth more than Rs 2 lakhs are known as Non-institutional bidders (NII). Unlike QIB bidders, they do not need SEBI registration.
- NII category has two subcategories:
- sNII (bids below Rs 10L)
The Small NII category is for NII investors who bid for shares between Rs 2 lakhs to Rs 10 lakhs. The 1/3 of NII category shares are reserved for the Small NII sub-category. This subcategory is also known as Small HNI (sHNI). - bNII (bids above Rs 10L)
The Big NII category is for NII investors who bid for shares worth more than Rs 10 Lakhs. The 2/3 of NII category shares are reserved for the Big NII subcategory. This subcategory is also known as Big HNI (bHNI).
- sNII (bids below Rs 10L)
- Retail Individual Investors(RII)
The retail individual investor or NRIs who apply up to Rs 2 lakhs in an IPO are considered as RII reserved category. - Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO. - Others
A category of eligible shareholders or other investors who have a reserved quota in the IPO.
Conclusion
The Akiko Global Services Limited IPO presents an opportunity for investors to be part of a company with a strong track record and a robust business model in the financial services sector. With the funds raised from the IPO, the company plans to enhance its technological infrastructure, expand its market presence, and meet its working capital requirements, paving the way for future growth and development.
