Fixed Price IPO | ₹26 Cr | Listed at NSE SME | Tue, Feb 28, 2017 - Mon, Mar 6, 2017
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Feb 28, 2017
IPO Close
Mon, Mar 6, 2017
Issue Price
₹125 per share
Market Cap (Pre-IPO)
₹94.85 Cr
| IPO Date | 28 Feb to 6 Mar, 2017 |
| Listed on | Wed, Mar 15, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹125 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 20,40,000 shares (agg. up to ₹26 Cr) |
| Reserved for Market Maker | 1,08,000 shares Beeline Broking Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 11,59,200 shares (agg. up to ₹14 Cr) |
| Offer for Sale | 7,72,800 shares of ₹10 (agg. up to ₹10 Cr) |
| Net Offered to Public | 19,32,000 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 63,21,067 shares |
| Share Holding Post Issue | 75,88,267 shares |
| NSE Symbol | AKASH |
| ISIN | INE737W01013 |
Akash Infra-Projects IPO comprises a total issue size of 20,40,000 shares. The net offer to the public is 19,32,000 shares, after excluding 1,08,000 shares allotted on a firm basis. Of the Net offer 9,66,000 (50.00%) allocated to NII 9,66,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 9,66,000 | 50.00% | 47.35% |
| Retail Shares Offered | 9,66,000 | 50.00% | 47.35% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,08,000 | 5.29% | |
| Total Shares Offered | 20,40,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| 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.
| 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 | Long term working capital requirement | 13.00 |
| 2 | General Corporate Purpose | 2.62 |
| 3 | Company’s share of Issue related Expenses | 0.22 |
The Akash Infra Projects IPO is subscribed [.] times on March 6, 2017 5:00:00 PM (Day 5). The public issue subscribed [.] times in the retail category, [.] times in the QIB category, and [.] times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and reimbursements of Market Making fees (1st year), and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.28 |
| 2 | Printing & Stationery, Distribution, Postage, etc | 0.02 |
| 3 | Advertisement and Marketing Expenses | 0.02 |
| 4 | Stock Exchange Fees, Regulatory and other Expenses | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹125.00 |
| Open | ₹124.50 |
| Low | ₹124.50 |
| High | ₹131.60 |
| Last Trade | ₹128.15 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
Akash Infra-Projects IPO is a SME IPO of 20,40,000 equity shares of the face value of ₹10 aggregating up to ₹26 Crores. The issue is priced at ₹125 per share. The minimum order quantity is 1000.
The IPO opens on Tue, Feb 28, 2017, and closes on Mon, Mar 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 Tue, Feb 28, 2017 and closes on Mon, Mar 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 Wed, Mar 15, 2017.
