Fixed Price IPO | ₹10 Cr | Listed at NSE SME | Tue, Apr 17, 2018 - Thu, Apr 19, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Apr 17, 2018
IPO Close
Thu, Apr 19, 2018
Issue Price
₹56 per share
Market Cap (Pre-IPO)
₹37.80 Cr
| IPO Date | 17 to 19 Apr, 2018 |
| Listed on | Fri, Apr 27, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹56 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 18,00,000 shares (agg. up to ₹10 Cr) |
| Reserved for Market Maker | 90,000 shares Monarch Networth Capital Ltd. (agg. up to ₹0.5040 Cr) |
| Fresh Issue (Ex Market Maker) | 17,10,000 shares (agg. up to ₹10 Cr) |
| Net Offered to Public | 17,10,000 shares (agg. up to ₹10 Cr) |
| Share Holding Pre Issue | 49,50,000 shares |
| Share Holding Post Issue | 67,50,000 shares |
| NSE Symbol | AAKASH |
| ISIN | INE087Z01016 |
Aakash Exploration IPO comprises a total issue size of 18,00,000 shares. The net offer to the public is 17,10,000 shares, after excluding 90,000 shares allotted on a firm basis. Of the Net offer 8,55,000 (50.00%) allocated to NII 8,55,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 8,55,000 | 50.00% | 47.50% |
| Retail Shares Offered | 8,55,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 90,000 | 5.00% | |
| Total Shares Offered | 18,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The Aakash Exploration IPO is subscribed 1.48 times on April 19, 2018 5:00:00 PM (Day 3). The public issue subscribed 1.38 times in the retail category, [.] times in the QIB category, and 1.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.59 | 8,55,000 | 13,60,000 |
| Retail | 1.38 | 8,55,000 | 11,78,000 |
| Total | 1.48 | 17,10,000 | 25,38,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and Underwriting. | 0.33 |
| 2 | Regulatory expenses and payment to other intermediaries, Advertisement & Marketing Expenses and other out of pocket expenses, selling commissions, brokerages. | 0.18 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹56.00 |
| Open | ₹55.75 |
| Low | ₹53.00 |
| High | ₹57.00 |
| Last Trade | ₹57.00 |
Lead Manager Reports
Aakash Exploration IPO is a SME IPO of 18,00,000 equity shares of the face value of ₹10 aggregating up to ₹10 Crores. The issue is priced at ₹56 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Apr 17, 2018, and closes on Thu, Apr 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 Tue, Apr 17, 2018 and closes on Thu, Apr 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 Thu, Apr 26, 2018. Check the Aakash Exploration IPO allotment status.
The Aakash Exploration IPO listing date is on Fri, Apr 27, 2018.
