The initial public offer of the Udaipur-based non-banking finance company (NBFC) Akme Fintrade (India) Ltd. has received quite a great response from non-institutional and retail investors, leading to the issue's oversubscription. Akme Fintrade IPO has received 53.78 times subscription so far on the third day of bidding on Friday, June 21.

The initial share sale received bids for 42,29,62,625 shares against 78,65,000 shares on offer, at 17:09 IST, according to BSE data.

The retail individual investor (RII) quota received 43.35 subscriptions, but the non-institutional investor quota received 129.34 subscriptions. A section of the subscription, designated for Qualified Institutional Buyers (QIBs), received 28.12 times subscriptions.

Akme Fintrade IPO received 3.01 times subscription on the first day of bidding on Wednesday, June 19 and was booked 11.63 times on the second day on Thursday, June 20.

Akme Fintrade IPO price band has been established between ?114 and ?120 per face value of ?10 each. The Reserve Bank of India's (RBI) registered NBFC subscription is set to end on Friday, June 21. The Akme Fintrade IPO lot size is 125 equity shares, with subsequent lots being multiples of 125 equity shares.

The Akme Fintrade IPO has allocated 50% of the shares to qualified institutional buyers (QIB), 15% to non-institutional institutional investors (NII), and 35% to retail investors. The employees' segment has been reserved 5,50,000 equity shares.