Akiko Global Services Ltd IPO

Akiko Global Services Limited was incorporated as a private limited company namely Akiko Global Services Private Limited under the Companies Act, 2013 vide certificate of incorporation dated June 13, 2018 issued by Registrar of Companies, NCT of Delhi and Haryana bearing registration no. 335272. Further, the Company was converted into a Public Limited Company in pursuance of a special resolution passed by the members of the Company at the Extra Ordinary General Meeting held on March 31, 2023. A fresh Certificate of Incorporation consequent to conversion was issued April 12,2023 by the Registrar of Companies, NCT of Delhi and Haryana and consequently the name of the Company was changed from Akiko Global Services Private Limited to Akiko Global Services Limited. The Company's Corporate Identification Number is U794999DL2018PLC335272.

The reforms of the 1990s have been associated with the expansion of the service sector in India. Midway through the 1980s, the service sector began to expand, but it took off in the 1990s when India started a series of economic reforms in response to a serious balance of payments issue. The services sector is not only the dominant sector in India's GDP but has also attracted significant foreign investment, has contributed significantly to exports and has provided large-scale employment. India's services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction. Direct Selling is a method of marketing and retailing goods or services directly to consumers, through personal contact, away from permanent retail premises. The products or services are sold through Active Direct Sellers, who act as individual representatives of the Direct Selling entities. These sellers carry out product demonstrations while making such sales. The Direct Selling concept is considered to have been kick-started in India in the late 1990s. The industry witnessed major growth with many global players entering the Indian market. The investors have seen how this platform created a positive impact on several other social and economic parameters. The credit card industry has grown tremendously in India. There are many developments happening in the space, with varied innovations and changes in technology. These new developments offer smooth on-boarding journeys, differentiated card products, personalised offers and rewards, and better mobile apps, which have proved to be greatly beneficial to existing customers and attracted new customers as well. Credit card issuers are also making efforts to bring further innovation and awareness to this space. The same can be seen from the significant growth in India's credit card market.