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Akanksha Power IPO is a book build issue of ₹27.49 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹27.49 crore.
Akanksha Power IPO bidding started from Dec 27, 2023 and ended on Dec 29, 2023. The allotment for Akanksha Power IPO was finalized on Jan 1, 2024. The shares got listed on NSE SME on Jan 3, 2024.
Akanksha Power IPO price band is set at ₹55.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,04,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,20,000.
Narnolia Financial Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The market maker of the company areNikunj Stock Brokers Ltd., SS Corporate Securities Ltd..
Refer to Akanksha Power IPO RHP for detailed Information.
| IPO Date | December 27, 2023 to December 29, 2023 |
| Listing Date | January 3, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹52 to ₹55 per share |
| Issue Price Final | ₹55 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 49,98,000 shares (aggregating up to ₹27.49 Cr) |
| Reserved for Market Maker | 2,60,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹1.43 Cr) SS Corporate Securities Ltd. |
| Net Offered to Public | 47,38,000 shares (aggregating up to ₹26.06 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,35,20,520 shares |
| Share Holding Post Issue | 1,62,58,200 shares |
Akanksha Power and Infrastructure IPO offers total 49,98,000 shares. Out of which 23,66,000 (47.34%) allocated to QIB, 9,48,000 (18.97%) allocated to QIB, 7,12,000 (14.25%) allocated to NII, 16,60,000 (33.21%) allocated to RII and 14,18,000 (28.37%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,60,000 (5.20%) |
| QIB Shares Offered | 23,66,000 (47.34%) |
| − Anchor Investor Shares Offered | 14,18,000 (28.37%) |
| − QIB (Ex. Anchor) Shares Offered | 9,48,000 (18.97%) |
| NII (HNI) Shares Offered | 7,12,000 (14.25%) |
| Retail Shares Offered | 16,60,000 (33.21%) |
| Total Shares Offered | 49,98,000 (100.00%) |
Akanksha Power IPO raises ₹7.80 crore from anchor investors. Akanksha Power IPO Anchor bid date is December 26, 2023. Akanksha Power IPO Anchor Investors list
| Bid Date | December 26, 2023 |
| Shares Offered | 14,18,000 |
| Anchor Portion Size (In Cr.) | 7.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 31, 2024 |
Akanksha Power IPO opens on December 27, 2023, and closes on December 29, 2023.
| IPO Open Date | Wed, Dec 27, 2023 |
| IPO Close Date | Fri, Dec 29, 2023 |
| Tentative Allotment | Mon, Jan 1, 2024 |
| Initiation of Refunds | Tue, Jan 2, 2024 |
| Credit of Shares to Demat | Tue, Jan 2, 2024 |
| Tentative Listing Date | Wed, Jan 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 29, 2023 |
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 | ₹1,10,000 |
| Retail (Max) | 1 | 2,000 | ₹1,10,000 |
| HNI (Min) | 2 | 4,000 | ₹2,20,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in July 2008, Akanksha Power and Infrastructure Limited manufactures electrical equipment such as switchboards, transformers and vacuum contactors for institutions, industries and utilities.
The company's product portfolio includes manufacturing and supply of CT-PT, metering units, cubic automatic power correction panels (capacitor panels), fixed capacitor banks, motor control centre (MCC), power control centre (PCC), variable frequency drive (VFD) panels, thyristor switches and vacuum contactors. The company also offers energy management systems and smart energy metres (Advanced Metering Infrastructure). In addition, the company offers engineering and implementation services for turnkey electrical projects.
In addition to production and manufacturing, the company also offers services related to the distribution and management of electricity. The company's operations include setting up electrical infrastructure that includes power quality testing, site analytics, online cloud-based multiple monitoring and data analytics for better management. The company aims to reduce losses in transmission, distribution and at the user level.
The company's customer base includes Military Engineer Services, Hindustan Aeronautics Limited, Coal India Limited, HINDALCO Industries Limited, Indian Oil Corporation Limited, Ordnance Factory Board, Larson & Toubro Limited, NALCO, ABB India Private Limited, Hitachi Energy India Limited, TPCODL (Tata Power Group), Jindal Stainless Limited, National Mineral Development Corporation Limited, Steel Authority of India Limited, Thyssenkrupp Electrical Steels Limited, Kutch Copper Limited (Adani Group) and TPNODL (Tata Power Northern Odissa Distribution Limited).
The company is certified as an ISO 9001:2015 compliant organisation
The company has two manufacturing facilities in Satpur, Nashik, Maharashtra, India.
As of June 30, 2023, the company has 62 permanent employees and 387 contract employees who are paid on a daily basis.
As of June 30, 2023, Odisha contributed 34.61% to the company's total revenue, while Maharashtra, Chhattisgarh, Karnataka and Gujrat contributed 8.77%, 0.10%, 3.19% and 1.30%, respectively.
Akanksha Power and Infrastructure Limited's revenue decreased by -10.8% and profit after tax (PAT) rose by 20.58% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,530.82 | 4,762.65 | 3,838.92 | 3,781.19 |
| Total Income | 1,027.27 | 4,644.03 | 5,206.50 | 7,441.05 |
| Profit After Tax | 71.06 | 290.50 | 240.92 | 392.12 |
| Net Worth | 2,074.75 | 1,595.94 | 1,305.42 | 1,064.50 |
| Reserves and Surplus | 722.70 | 1,414.44 | 1,123.92 | 883.00 |
| Total Borrowing | 1,722.62 | 1,527.68 | 1,055.03 | 891.47 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Akanksha Power IPO is ₹101.85 Cr.
| KPI | Values |
|---|---|
| ROE | 18.20% |
| ROCE | 22.75% |
| Debt/Equity | 0.96 |
| RoNW | 18.20% |
The objects of the Issue are:-
[Dilip Davda] The company is in the business of sustainable quality power solutions with latest technology and enjoys a niche place. Uniqueness of their technological products are set to revolutionize the trends going forward. However, it marked inconsistency in its bottom lines for the reported periods and based on FY24 annualized earnings, the issue appears fully priced. Investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | January 3, 2024 |
| BSE Script Code | |
| NSE Symbol | AKANKSHA |
| ISIN | INE0PCY01014 |
| Final Issue Price | ₹55 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹55.00 |
| Open | ₹62.00 |
| Low | ₹62.00 |
| High | ₹65.10 |
| Last Trade | ₹65.10 |
Akanksha Power & Infrastructure Ltd.
Plot No. 87/4
MIDC, ,
Satpur
Nashik, Maharashtra, 422007
Phone: +91 9370345000
Email: bdm@apil.co.in
Website: https://www.apil.co.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: akanksha.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Akanksha Power IPO is a SME IPO of 49,98,000 equity shares of the face value of ₹10 aggregating up to ₹27.49 Crores. The issue is priced at ₹55 per share. The minimum order quantity is 2000.
The IPO opens on December 27, 2023, and closes on December 29, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Akanksha Power IPO using UPI as a payment gateway. Zerodha customers can apply in Akanksha Power IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Akanksha Power IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Akanksha Power IPO opens on December 27, 2023 and closes on December 29, 2023.
Akanksha Power IPO lot size is 2000, and the minimum amount required for application is ₹1,10,000.
You can apply in Akanksha Power 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 Akanksha Power IPO will be done on Monday, January 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, January 2, 2024. Check the Akanksha Power IPO allotment status.
The Akanksha Power IPO listing date is on Wednesday, January 3, 2024.
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