AKIKO GLOBAL SERVICES IPO Review

The Money Fair, powered by Akiko Global Services Limited (formerly known as Akiko global services private limited) is an algorithm-based technology that platform that gathers and analyses data of individuals from various sources and draws insights to judge their credit worthiness, their past and current performance that helps in ease of comparison of multiple offers available and unbiased advice. 

The Company is backed by strong and professional Promters named, Mr. Ankur Gaba, Ms. Richa Gaba, Mr. Puneet Mehta, Mr. Gurjeet Singh Walia and Ms. Priyanka Dutta, they have combined experience between 10 to 30 years in leading non-profit as well as for-profit organizations.

Financially, Akiko Global revenue increased from ₹610.78 Lakhs in FY21 to ₹1,353.31 Lakhs in FY22 and further jumped to ₹3,958.97 Lakhs in FY23 and currently at ₹2,609.76 Lakhs for 10MFY24. Similarly, EBITDA increased from ₹42.43 Lakhs in FY21 to ₹118.25 Lakhs in FY22 and further increased in FY23 at ₹632.42 Lakhs and currently at ₹460.08 Lakhs for 10MFY24. The PAT increased from ₹22.98 Lakhs in FY21 to ₹77.85 Lakhs in FY22 and further showing growth at ₹453.26 Lakhs in FY23 and currently at ₹321.48 Lakhs for 10MFY24. This indicates a steady growth in financial performance.

For the Akiko Global IPO, the company is issuing shares at a pre-issue EPS of ₹12.62 and a post-issue EPS of ₹4.20. The pre-issue P/E ratio is 6.10x, while the post-issue P/E ratio is 18.33x. The company's ROCE for 10MFY24 is 29.23%, and ROE for 10MFY24 is 32.44%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Akiko Global indicates potential listing gains of 15% - 20%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the IPO for listing gains or long term Investment purposes.