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Non-banking financial company Akme Fintrade (India) has filed preliminary papers with capital markets regulator - Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO).

According to the Draft Red Herring Prospectus (DRHP), the public issue comprises fresh issuance of 1.1 crore equity shares and no offer for sale (OFS) component. Proceeds of the issue will be used to argument capital base of the company. Gretex Corporate Services is the sole book running lead manager to the issue. The equity shares of the company will be listed on the BSE and NSE.

Akme Fintrade is primarily engaged in providing rural and semi-urban centric lending solution to customers in four states -- Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. The company's portfolio includes vehicle finance and business finance products to small business owners.