Akanksha Power IPO: Check Out Price Band, Lot Size & More
by Sandip Das on 27 December 2023, 4 min read
The initial public offering (IPO) of small and medium-sized enterprises (SME) Akanksha Power and Infrastructure has opened for subscription on December 27, 2023. The issue will close on December 29, 2023. The public issue’s price band is set at Rs 52 to Rs 55 per share. The minimum lot size for an application is 2,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples thereof.
Also read: Manoj Ceramic IPO: Check Out Issue Price, Price Band & More
| Category | Number of shares bid for |
|---|---|
| Qualified Institutional Buyers(QIBs) | 66,40,000 |
| Non Institutional Investors | 6,48,000 |
| Retail Individual Investors(RIIs) | 45,38,000 |
| Total | 1,18,26,000 |
About the Company
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, among others.
Company Financials
| Particulars | Period ended December 31, 2022 | Year ended March 31, 2022 |
| Revenue from operation | Rs 3,662.26 lakhs | Rs 5,183.70 lakhs |
| Profit after Tax | Rs 145.76 lakhs | Rs 240.92 lakhs |
Issue Size
The issue size comprises of fresh issue of 49,95,000 Equity Shares. It has face value of Rs 10 each fully paid-up of the Company.
IPO Reserve Portion
- Qualified Institutional Buyers (QIB) – Not more than 50 percent of the shares in the public issue
- Non Institutional Investors (NII) – Not less than 15 percent
- Retail Investors – Not less than 35 percent of the offer
Objectives of the Issue
The issue is entirely a fresh issue of 49.98 lakh shares. The company intends to use the net proceeds of the offering for capital expenditure amounting to Rs 50 crore and Rs 150 crore for working capital requirements.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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