Akanksha Power and Infrastructure IPO Detail 2023
Introduction
The Akanksha Power and Infrastructure IPO will open on September 29 and close on October 4, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 22.48 crore through this public offering, consisting of 49.95 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 40 to ₹ 45 per share.
Akanksha Power and Infrastructure Limited (“the Company”)
Incorporated in 2008. The company is engaged in the business of manufacturing electric equipment, including electrical panels, instrument transformers, and vacuum contactors, catering to consumers from institutions, industries, and electricity transmission and distribution utilities. The company has two (2) manufacturing plants to manufacture the products with an emphasis on quality and performance.
In addition to production and manufacturing, they are also providing services related to the distribution and management of electricity, whose operation includes the establishment of electrical infrastructure that involves power quality audits, site analysis, online cloud-based multiple monitoring, and data analysis for better management to reduce losses at the transmission, distribution, and user levels. They are also engaged in managing the electrical distribution network for the distribution companies (“DISCOMs”).
Company Key Metrics
| Earning Per Share (EPS) | ₹ 2.29 per Equity Share |
| ROE | 18.20% |
| ROCE | 22.75% |
| P/E (x) | 19.68 |
| Return on Net Worth (RoNW) | 18.20% |
Objects of the Issue,
- To meet the Capital Expenditure Requirement of the Company.
- To meet the Working Capital requirements of the Company.
- To meet the General Corporate Purposes.
- To meet the Issue Expenses.
Financial Highlights (Restated)
| Particulars | For the period ended on 31st Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 1,451.10 | 1,305.42 | 1,064.50 | 672.38 |
| Total Assets | 4,320.69 | 3,838.92 | 3,781.19 | 1,945.31 |
| Reserve & Surplus | 1,269.60 | 1,123.92 | 883.00 | 490.88 |
| Total Borrowings | 1,477.63 | 1,055.03 | 891.47 | 767.54 |
| Total Revenue | 3,679.20 | 5,206.50 | 7,441.05 | 2,074.33 |
| Profit After Tax | 145.75 | 240.92 | 392.12 | 79.86 |
Akanksha Power and Infrastructure IPO details
As per the DRHP filed with SEBI, 49.95 lakhs shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 2.52 lakhs shares of the offering. While Narnolia Financial Services Ltd will be the lead manager for the IPO, Link Intime India Private Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 40 to ₹ 45 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 Shares |
| Issue Size | 4,995,000 shares (aggregating up to ₹ 22.48 crores) |
| Fresh Issue | 4,995,000 shares (aggregating up to ₹ 22.48 crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Asnani Stock Broker |
| Market maker portion | 252,000 shares |
Shareholding Pattern
| Shareholding pre-issue | 13,520,520 |
| Shareholding post issue | 18,515,520 |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net offer |
| NII (HNI) shares offered | Not less than 15% of the offer |
| Retail shares offered | Not less than 35% of the offer |
Akanksha Power and Infrastructure IPO GMP
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Akanksha Power and Infrastructure IPO Tentative Dates
The issue opens for subscription on September 29, 2023, and closes for subscription on October 4, 2023 (both days inclusive). The basis of allotment will be finalised on October 9, 2023, and the refunds will be initiated on October 10, 2023. In addition, the demat credits are expected to happen on October 11, 2023, and the stock will be listed on the NSE SME on October 12, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 29, 2023 |
| Closing Date | October 4, 2023 |
| Basis of Allotment | October 9, 2023 |
| Initiation of Refunds | October 10, 2023 |
| A credit of shares to Demat A/c | October 11, 2023 |
| Listing Date | October 12, 2023 |
Lot Size of Akanksha Power and Infrastructure IPO
The lot size of the Akanksha Power and Infrastructure IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 135,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 135,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 135,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 270,000 |
Promoters Holdings
Mr. Bipin Bihari Das Mohapatra & Ms. Chaitali Bipin Dasmohapatra are the promoter of the company.
| Pre-issue Shares Holdings | 83.28% |
| Post-issue Shares Holdings | 60.81% |
SWOT Analysis of Akanksha Power and Infrastructure Ltd.
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. Established operations and proven track record 2. Experienced Management Team 3. Increased adoption of better and energy efficient technology 4. Technical Partnership with the large players in the industry | 1. High working capital requirements 2. Heavy dependence on suppliers 3. Government Control in Pricing and other factors |
| OPPORTUNITIES | THREATS |
| 1. Development of Infrastructure will result in rise in demand 2. Government investment in electrical infrastructure such as RDSS 3. Expanding new geographical area 4. Vide array of stakeholders | 1. High level competition 2. Compliance and regulatory risk 3. Change in Government Policies 4. No entry barriers for new entrants (Competitors) |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Akanksha Power and Infrastructure Limited Plot No. 87/4, MIDC, Satpur Nashik- 422007 Phone: +91 9370345000 Email: bdm@apil.co.in Website: https://apipl.co.in/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: akanksha.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
| IPO Lead Manager(s) | Narnolia Financial Services Ltd |
FAQs
What is Akanksha Power and Infrastructure’s IPO price?
The Akanksha Power and Infrastructure IPO price is ₹ 40 to ₹ 45 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Akanksha Power and Infrastructure IPO contains 3,000 shares of ₹ 135,000.
When will the Akanksha Power and Infrastructure IPO allotment be available?
The finalisation of the basis of allotment for the Akanksha Power and Infrastructure IPO will be done on October 9, 2023, and the allotted shares will be credited to your demat account by October 11, 2023. Check the Akanksha Power and Infrastructure IPO allotment status.
When will the Akanksha Power and Infrastructure IPO be listed on exchanges?
The Akanksha Power and Infrastructure IPO shares listing date is October 12, 2023.
