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Aakash Exploration IPO is a fixed price issue of ₹10.08 crores. The issue is entirely a fresh issue of 0.18 crore shares of ₹10.08 crore.
Aakash Exploration IPO bidding started from Apr 17, 2018 and ended on Apr 19, 2018. The allotment for Aakash Exploration IPO was finalized on Apr 24, 2018. The shares got listed on NSE SME on Apr 27, 2018.
Aakash Exploration IPO price is ₹56.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,12,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,24,000.
Monarch Networth Capital Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Monarch Networth Capital Ltd..
Refer to Aakash Exploration IPO RHP for detailed Information.
| IPO Date | April 17, 2018 to April 19, 2018 |
| Listing Date | April 27, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹56 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 18,00,000 shares (aggregating up to ₹10.08 Cr) |
| Reserved for Market Maker | 90,000 shares Monarch Networth Capital Ltd. (aggregating up to ₹0.5040 Cr) |
| Net Offered to Public | 17,10,000 shares (aggregating up to ₹9.58 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 49,50,000 shares |
| Share Holding Post Issue | 67,50,000 shares |
Aakash Exploration IPO offers total 18,00,000 shares. Out of which 8,55,000 (47.50%) allocated to NII, 8,55,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 90,000 (5.00%) |
| NII (HNI) Shares Offered | 8,55,000 (47.50%) |
| Retail Shares Offered | 8,55,000 (47.50%) |
| Total Shares Offered | 18,00,000 (100.00%) |
Aakash Exploration IPO opens on April 17, 2018, and closes on April 19, 2018.
| IPO Open Date | Tue, Apr 17, 2018 |
| IPO Close Date | Thu, Apr 19, 2018 |
| Tentative Allotment | Tue, Apr 24, 2018 |
| Initiation of Refunds | Wed, Apr 25, 2018 |
| Credit of Shares to Demat | Thu, Apr 26, 2018 |
| Tentative Listing Date | Fri, Apr 27, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Apr 19, 2018 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,12,000 |
| Retail (Max) | 1 | 2,000 | ₹1,12,000 |
| HNI (Min) | 2 | 4,000 | ₹2,24,000 |
Incorporated in 2007, Gujarat based Aakash Exploration Services Limited is a company engaged in providing services for Oil and Gas Exploration.
The company is an ISO 9001 14001 and OHSAS 18001 certified company. It provides Mobile Work Over Rigs, Hot Oil Circulation Unit, Air Compressor, Mobile Steaming Unit (Boiler), Mobile Pumping Unit, Crane, Manpower Services, SRP Unit supply and Maintenance and other similar Services.
Aakash Exploration is providing Oil and Gas field Services to M/S Oil & Natural Gas Corporation Ltd (A Govt. of India Company), Ahmedabad, Mehsana and Hazira Projects and also providing similar services to private oil field operators namely GSPCL, Cairn, Essar, Great Eastern Energy, IOC, Niko, OIL, Price Petroleum etc to their extreme satisfaction. Aakash Exploration Services Limited is a national group of Oil and Gas Field Services with a staff of more than 250 employees and operating in more than 7 states of India.
| Particulars | For the year/period ended (in Rs. Lacs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 3,382.38 | 3,131.06 | 2,549.24 | 1,393.22 | 1,056.70 | |
| Total Revenue | 3,380.30 | 2,563.31 | 2,345.20 | 1,389.54 | 944.65 | |
| Profit After Tax | 110.02 | 44.32 | 101.44 | 49.38 | 14.40 | |
The Company Aakash Exploration IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Payment of Cash Credit Facilities | 3.00 |
| 2 | Repayment of Unsecured Loans | 2.00 |
| 3 | Working Capital Requirement | 2.08 |
| 4 | General Corporate Purpose | 2.50 |
[Dilip Davda] <p>Although sector is poised for bright prospects and company has shown steady growth in its working except for FY16, its aggressive pricing is leaving nothing on table for new investors in near term. Hence there is no harm in giving this issue a miss.</p> Read detail review...
| Listing Date | April 27, 2018 |
| BSE Script Code | |
| NSE Symbol | AAKASH |
| ISIN | INE087Z01016 |
| Final Issue Price | ₹56 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹56.00 |
| Open | ₹55.75 |
| Low | ₹53.00 |
| High | ₹57.00 |
| Last Trade | ₹57.00 |
Aakash Exploration Services Ltd.
424-426, 4th Floor,
Shukan Mall, Nr. Visat Petrol Pump,
Sabarmati,
Ahmedabad, Gujarat, 380005
Phone: +91 79-48006633/ 65423366
Email: hemang@aakashexploration.com
Website: http://www.aakashexploration.com
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: virenr@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Aakash Exploration IPO is a SME IPO of 18,00,000 equity shares of the face value of ₹10 aggregating up to ₹10.08 Crores. The issue is priced at ₹56 per share. The minimum order quantity is 2000.
The IPO opens on April 17, 2018, and closes on April 19, 2018.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Aakash Exploration IPO using UPI as a payment gateway. Zerodha customers can apply in Aakash Exploration IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aakash Exploration IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aakash Exploration IPO opens on April 17, 2018 and closes on April 19, 2018.
Aakash Exploration IPO lot size is 2000, and the minimum amount required for application is ₹1,12,000.
You can apply in Aakash Exploration IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Aakash Exploration IPO will be done on Tuesday, April 24, 2018, and the allotted shares will be credited to your demat account by Thursday, April 26, 2018. Check the Aakash Exploration IPO allotment status.
The Aakash Exploration IPO listing date is on Friday, April 27, 2018.
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