IPO Details

Bidding Dates

25 Jun '24 - 27 Jun '24

Minimum Investment

₹1,23,200/1 Lot (1,600 Shares)

Price Range

₹73 to ₹77 per share

Maximum Investment

₹1,23,200/1 Lot (1,600 Shares)

Retail Discount

Not Applicable

Issue Size

₹23.11 crore

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

The Money Fair IPO Important Dates

Important dates with respect to IPO allotment and listing

Opening Date

Jun 25, 2024

Closing Date

Jun 27, 2024

Allotment Date

Jul 1, 2024

Initiation of Refunds

Jul 1, 2024

Credit of Shares to Demat

Jul 1, 2024

Listing Date

Jul 2, 2024

Cut-off time for UPI mandate confirmation

Jun 27, 2024

About Akiko Global Services Limited

Incorporated in June 2018, Akiko Global Services Limited partners with major banks and non-banking financial companies (NBFCs) in India, specialising in the distribution and sale of financial products such as credit cards and loans. 

With six years of expertise, the company operates as a Channel Partner (DSA), leveraging a multifaceted business model that includes tele-calling, corporate activities, feet-on-street, and digital marketing to acquire customers.

Akiko Global Services excels in providing comprehensive guidance and assistance to individuals and businesses in navigating the financial product landscape. Their dedicated team offers tailored recommendations to help clients find the best credit card for maximising rewards or secure the most suitable loan for personal or business needs. 

The company's strong industry reputation stems from its commitment to delivering on promises and adhering to compliance standards, as evidenced by its ISO certification from QFS Management Systems LLP, accredited by the Standards Council of Canada.

Utilising a Customer Relationship Management (CRM) system, Akiko Global Services ensures that all leads are efficiently managed and customer information is protected. The company's proprietary CRM is designed to safeguard data and optimise business processes. 

Additionally, The Money Fair, powered by Akiko, uses advanced algorithms to assess creditworthiness, providing insights for easy comparison of offers and enhancing the chances of securing loans or credit cards for customers.

As of April 30, 2024, Akiko Global Services employs 418 permanent staff, including directors and key managerial personnel, dedicated to enhancing customer satisfaction and delivering exceptional service.

Industry Outlook:

  1. India's credit card market grew at a CAGR of 20% over the past five years, with credit card numbers surpassing 78 million in July 2022.
  2. Credit card spending in India reached an all-time high of ₹1.13 lakh crore in May 2022, indicating robust consumer demand.

The Money Fair IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Implementation of ERP Solution and TeleCRM
  2. Mobile Application for financial product solution
  3. To meet working capital requirements
  4. Enhancing visibility and awareness of our brands, including but not limited to “Akiko Global” or “Moneyfair.”
  5. General Corporate Purpose; and
  6. Issue Expenses

Peer Details

According to RHP, Akiko Global Services Limited does not have any listed peer companies for comparison of performance.

How to Check the Allotment Status of The Money Fair IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Akiko Global Services Limited

Registered office: 11th Floor, Off. No. 8/4-D, Vishwadeep Building, District Centre Janak Puri, West Delhi, New Delhi, Delhi, India, 110058

Phone: 011-4010 4241

E-mail: accounting@akiko.co.in

IPO Financials

Particulars For the period ended on January 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Revenue from Operations (in ₹ lakh) 2,590.30 3,958.11 1,351.92 610.78
Profit After Tax (PAT) (in ₹ lakh) 321.48 453.26 77.85 22.98
Cash & Cash Equivalents (in ₹ lakh) 29.71 100.56 8.56 36.79
Net Worth (in ₹ lakh) 1,403.37 578.40 123.14 45.29
Debt to Equity Ratio(x) 0.09 0.17 0.21 1.10
Return on Capital Employed (RoCE) (%) 29.23% 109.99% 63.39% 21.79%
Return on Equity (RoE) (%) 32.44% 129.22% 92.44% 67.99%
Earning Per Share (EPS)-in absolute ₹ 4.70 12.62 2.86 0.84

Know before investing


  1. Established in 2018, possesses valuable financial industry experience.

  2. Core team experts in credit cards and personal loans.

  3. Uses diversified acquisition strategies: telemarketing, feet-on-street, digital.

  4. Optimises sales with varied customer acquisition methods.

  5. Extensive customer database for precise targeting and tailored offerings.

  6. Enhances marketing efficiency through targeted customer segment strategies.


  1. High employee turnover increases training costs and reduces productivity.

  2. Limited financial resources restrict strategic investments and growth opportunities.

  3. Vulnerability to rapid technological changes threatens service delivery models.

  4. Intense competition in the financial sector pressures pricing power.

  5. Economic fluctuations affect demand for credit cards and loans.

  6. Cybersecurity threats pose risks to customer data and reputation.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Akiko Global Services Limited IPO (The Money Fair IPO) FAQs

What is The Money Fair IPO?

The Money Fair IPO is a book built IPO. The IPO will be open from June 25, 2024 to June 27, 2024.

When will The Money Fair IPO be allotted?

The Basis of Allotment will happen on Monday, July 1, 2024.

When will The Money Fair IPO open for subscription?

The IPO subscription window will open on June 25, 2024.

What minimum lot size can retail investors subscribe to?

The lot size for The Money Fair’s IPO is 1 lot of 1,600 shares, with a minimum investment of ₹1,23,200.

When will The Money Fair list on exchanges?

The listing date for The Money Fair is Tuesday, July 2, 2024.

What would be the listing gains on The Money Fair IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Money Fair IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for The Money Fair IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of The Money Fair IPO using one PAN?

You can submit only one application using your PAN card.