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Akash Infra-Projects IPO is a fixed price issue of ₹25.50 crores. The issue is a combination of fresh issue of 0.13 crore shares aggregating to ₹15.84 crores and offer for sale of 0.08 crore shares aggregating to ₹9.66 crores.
Akash Infra-Projects IPO bidding started from Feb 28, 2017 and ended on Mar 6, 2017. The shares got listed on NSE SME on Mar 15, 2017.
Akash Infra-Projects IPO price is ₹125.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹1,25,000 (1000 shares). The minimum lot size investment for HNI is 2 lots (2,000 shares), amounting to ₹2,50,000.
Tipsons Consultancy Services Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The market maker of the company is Beeline Broking Ltd..
Refer to Akash Infra-Projects IPO RHP for detailed Information.
| IPO Date | February 28, 2017 to March 6, 2017 |
| Listing Date | March 15, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹125 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 20,40,000 shares (aggregating up to ₹25.50 Cr) |
| Reserved for Market Maker | 1,08,000 shares Beeline Broking Ltd. (aggregating up to ₹1.35 Cr) |
| Fresh Issue (Ex Market Maker) | 11,59,200 shares (aggregating up to ₹14.49 Cr) |
| Offer for Sale | 7,72,800 shares of ₹10 (aggregating up to ₹9.66 Cr) |
| Net Offered to Public | 19,32,000 shares (aggregating up to ₹24.15 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 63,21,067 shares |
| Share Holding Post Issue | 75,88,267 shares |
Akash Infra Projects IPO offers total 20,40,000 shares. Out of which 9,66,000 (47.35%) allocated to NII, 9,66,000 (47.35%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,08,000 (5.29%) |
| NII (HNI) Shares Offered | 9,66,000 (47.35%) |
| Retail Shares Offered | 9,66,000 (47.35%) |
| Total Shares Offered | 20,40,000 (100.00%) |
Akash Infra-Projects IPO opens on February 28, 2017, and closes on March 6, 2017.
| IPO Open Date | Tue, Feb 28, 2017 |
| IPO Close Date | Mon, Mar 6, 2017 |
| Tentative Listing Date | Wed, Mar 15, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Mar 6, 2017 |
Investors can bid for a minimum of 1,000 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 | 1,000 | ₹1,25,000 |
| Retail (Max) | 1 | 1,000 | ₹1,25,000 |
| HNI (Min) | 2 | 2,000 | ₹2,50,000 |
Incorporated in 1999, Akash Infra-Projects Ltd (AIPL) is engaged into the business of civil construction and has undertaken various government contracts for construction of roads. It is primarily into the Construction of roads, resurfacing, widening repairs of roads and Minor bridges etc.
It has proven track record of successful completion of various road projects in the state of Gujarat. It is also into the business of hospitality segment and operating and managing hotel named Pathikashram at Gandhinagar which is owned by Gujarat Government.
The Company Akash Infra-Projects 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 | Long term working capital requirement | 13.00 |
| 2 | General Corporate Purpose | 2.62 |
| 3 | Company’s share of Issue related Expenses | 0.22 |
[Dilip Davda] Considering declining trends of top and bottom line and the higher pricing, only risk savvy cash surplus investors may consider it for long term. Read detail review...
| Listing Date | March 15, 2017 |
| BSE Script Code | |
| NSE Symbol | AKASH |
| ISIN | INE737W01013 |
| Final Issue Price | ₹125 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹125.00 |
| Open | ₹124.50 |
| Low | ₹124.50 |
| High | ₹131.60 |
| Last Trade | ₹128.15 |
Akash Infra-Projects Ltd.
2 Ground Floor, Abhishek Complex,
Opp. Hotel Haveli,
Sector 11,
Gandhinagar, Gujarat, 382011
Phone: +91-079-23227006
Email: ipo@akashinfra.com
Website: http://www.akashinfra.com
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: purvashr@mtnl.net.in
Website: https://www.purvashare.com/investor-service/ipo-query
Akash Infra-Projects IPO is a SME IPO of 20,40,000 equity shares of the face value of ₹10 aggregating up to ₹25.50 Crores. The issue is priced at ₹125 per share. The minimum order quantity is 1000.
The IPO opens on February 28, 2017, and closes on March 6, 2017.
Purva Sharegistry (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 Akash Infra-Projects IPO using UPI as a payment gateway. Zerodha customers can apply in Akash Infra-Projects IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Akash Infra-Projects IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Akash Infra-Projects IPO opens on February 28, 2017 and closes on March 6, 2017.
Akash Infra-Projects IPO lot size is 1000, and the minimum amount required for application is ₹1,25,000.
You can apply in Akash Infra-Projects 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 Akash Infra-Projects IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Akash Infra-Projects IPO allotment status.
The Akash Infra-Projects IPO listing date is on Wednesday, March 15, 2017.
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