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Akanksha Power and Infrastructure IPO Detail 2023

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
ROE18.20%
ROCE22.75%
P/E (x)19.68
Return on Net Worth (RoNW)18.20%

Objects of the Issue,

  1. To meet the Capital Expenditure Requirement of the Company.
  2. To meet the Working Capital requirements of the Company.
  3. To meet the General Corporate Purposes.
  4. To meet the Issue Expenses.

Financial Highlights (Restated)

ParticularsFor the period ended on 31st Dec. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth1,451.101,305.421,064.50672.38
Total Assets4,320.693,838.923,781.191,945.31
Reserve & Surplus1,269.601,123.92883.00490.88
Total Borrowings1,477.631,055.03891.47767.54
Total Revenue3,679.205,206.507,441.052,074.33
Profit After Tax145.75240.92392.1279.86
(Amount in ₹ Lakhs)

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 TypeBook Built Issue IPO
IPO Price₹ 40 to ₹ 45 per share
Face Value₹ 10 per share
Market Lot3,000 Shares
Issue Size4,995,000 shares (aggregating up to ₹ 22.48 crores)
Fresh Issue4,995,000 shares (aggregating up to ₹ 22.48 crores)
Listing AtNSE SME

Market Maker detail

Market makerAsnani Stock Broker
Market maker portion252,000 shares

Shareholding Pattern

Shareholding pre-issue13,520,520
Shareholding post issue18,515,520

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot 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 DateSeptember 29, 2023
Closing DateOctober 4, 2023
Basis of AllotmentOctober 9, 2023
Initiation of RefundsOctober 10, 2023
A credit of shares to Demat A/cOctober 11, 2023
Listing DateOctober 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)13,000₹ 135,000
Retail (Maximum)13,000₹ 135,000
HNI (Minimum)26,000₹ 270,000

Promoters Holdings 

Mr. Bipin Bihari Das Mohapatra & Ms. Chaitali Bipin Dasmohapatra are the promoter of the company.

Pre-issue Shares Holdings83.28%
Post-issue Shares Holdings60.81%

SWOT Analysis of Akanksha Power and Infrastructure Ltd.

STRENGTHSWEAKNESSES
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
OPPORTUNITIESTHREATS
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 InformationAkanksha Power and Infrastructure Limited
Plot No. 87/4, MIDC, Satpur Nashik- 422007
Phone: +91 9370345000
Email: [email protected]
Website: https://apipl.co.in/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/mipo/ipoallotment.html
IPO Lead Manager(s)Narnolia Financial Services Ltd

FAQs

The Akanksha Power and Infrastructure IPO price is ₹ 40 to ₹ 45 per share.

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.

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.

The Akanksha Power and Infrastructure IPO shares listing date is October 12, 2023.

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