Bookbuilding IPO | ₹27 Cr | Listed at NSE SME | Wed, Dec 27, 2023 - Fri, Dec 29, 2023
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 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,10,000 (2000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Wed, Dec 27, 2023
IPO Close
Fri, Dec 29, 2023
Issue Price
₹55 per share
Market Cap (Pre-IPO)
₹101.85 Cr
| IPO Date | 27 to 29 Dec, 2023 |
| Listed on | Wed, Jan 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹52 to ₹55 |
| Issue Price | ₹55 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 49,98,000 shares (agg. up to ₹27 Cr) |
| Reserved for Market Maker | 2,60,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹1 Cr) SS Corporate Securities Ltd. |
| Fresh Issue (Ex Market Maker) | 47,38,000 shares (agg. up to ₹26 Cr) |
| Net Offered to Public | 47,38,000 shares (agg. up to ₹26 Cr) |
| Share Holding Pre Issue | 1,35,20,520 shares |
| Share Holding Post Issue | 1,62,58,200 shares |
| NSE Symbol | AKANKSHA |
| ISIN | INE0PCY01014 |
Akanksha Power IPO comprises a total issue size of 49,98,000 shares. The net offer to the public is 47,38,000 shares, after excluding 2,60,000 shares allotted on a firm basis. Of the Net offer 23,66,000 (49.94%) are allocated to QIB, 7,12,000 (15.03%) allocated to NII 16,60,000 (35.04%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 23,66,000 | 49.94% | 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 | 15.03% | 14.25% |
| Retail Shares Offered | 16,60,000 | 35.04% | 33.21% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,60,000 | 5.20% | |
| Total Shares Offered | 49,98,000 | 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 | ₹1,10,000 |
| Retail (Max) | 1 | 2,000 | ₹1,10,000 |
| HNI (Min) | 2 | 4,000 | ₹2,20,000 |
Akanksha Power IPO raises ₹7.80 crore from anchor investors. Akanksha Power IPO Anchor bid date is December 26, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Dec 26, 2023 |
| Shares Offered | 14,18,000 |
| Anchor Portion (₹ Cr.) | 7.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jan 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Mar 31, 2024 |
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.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 55.31 | 47.63 | 38.39 | 37.81 |
| Total Income | 10.27 | 46.44 | 52.07 | 74.41 |
| Profit After Tax | 0.71 | 2.91 | 2.41 | 3.92 |
| NET Worth | 20.75 | 15.96 | 13.05 | 10.65 |
| Reserves and Surplus | 7.23 | 14.14 | 11.24 | 8.83 |
| Total Borrowing | 17.23 | 15.28 | 10.55 | 8.91 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure | 5.00 |
| 2 | Working Capital Requirement | 15.00 |
| 3 | General Corporate Purposes | 2.46 |
| 4 | Issue Expenses | 5.02 |
| KPI | |
|---|---|
| ROE | 18.20% |
| ROCE | 22.75% |
| Debt/Equity | 0.96 |
| RoNW | 18.20% |
| PAT Margin | 6.16% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.29 | |
| P/E (x) | 24.02 | 35.72 |
| Promoter Holding | 83.28% | 60.81% |
| Market Cap | ₹101.85 Cr. |
The Akanksha Power and Infrastructure IPO is subscribed 117.39 times on December 29, 2023 7:29:00 PM (Day 3). The public issue subscribed 110.44 times in the retail category, 38.51 times in the QIB category, and 238.6 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 38.51 | 9,48,000 | 3,65,04,000 |
| NII* | 238.6 | 7,12,000 | 16,98,80,000 |
| Retail | 110.44 | 16,60,000 | 18,33,36,000 |
| Total | 117.39 | 33,20,000 | 38,97,20,000 |
Total Application : 91,668
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead manager(s) fees including underwriting commission. | 1.50 |
| 2 | Underwriting Commission to SS Corporate Securities Limited | 0.30 |
| 3 | Underwriting Commission to Nikunj Stock Brokers Limited | 0.30 |
| 4 | Registrar to the issue | 0.08 |
| 5 | Legal Advisors | 0.05 |
| 6 | Statutory Advertisement | 0.05 |
| 7 | Regulators including stock exchanges | 0.05 |
| 8 | Printing and distribution of issue stationary | 0.03 |
| 9 | Others, if any (Advisors to the issue, Peer Review Auditor, Road shows, Brokerage, Selling commission, UPI and upload fees and other miscellaneous expenses) | 2.66 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹55.00 |
| Open | ₹62.00 |
| Low | ₹62.00 |
| High | ₹65.10 |
| Last Trade | ₹65.10 |
Lead Manager Reports
Akanksha Power IPO is a SME IPO of 49,98,000 equity shares of the face value of ₹10 aggregating up to ₹27 Crores. The issue is priced at ₹55 per share. The minimum order quantity is 2000.
The IPO opens on Wed, Dec 27, 2023, and closes on Fri, Dec 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 Wed, Dec 27, 2023 and closes on Fri, Dec 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 Tue, Jan 2, 2024. Check the Akanksha Power IPO allotment status.
The Akanksha Power IPO listing date is on Wed, Jan 3, 2024.
