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Akanksha Power IPO

Akanksha Power & Infrastructure IPO

  • Status: Closed
  • RHP:
  • ₹ 104,000 / 2000 shares

    Minimum Investment

IPO Details

  • Open Date

    27 Dec 2023

  • Close Date

    29 Dec 2023

  • IPO Price Range

    ₹ 52 to ₹ 55

  • IPO Size

    ₹ 27.49 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    03 Jan 2024

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IPO Timeline

Akanksha Power & Infrastructure IPO Subscription Status

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Akanksha Power and Infrastructure Limited IPO is all set to open from 27th December to 29th December 2023. The company is involved in the business of providing sustainable and reliable power solutions. The IPO includes a fresh issue of 4,998,000 shares worth ₹27.49 cr. The share allotment date is 1st January 2024, and the IPO will be listed on 3rd January 2024 on the stock exchanges. The price band is ₹52 to ₹55 per share and the lot size is 2000 shares.    

Narnolia Financial Services Limited is the book-running lead manager for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of Akanksha Power and Infrastructure IPO:

Akanksha Power and Infrastructure Limited plans to utilize the raised capital from the IPO to:
●    To fund the working capital requirements and working expenditure requirements. 
●    General corporate purposes.
●    For funding public issue expenses. 
 

Incorporated in 2008, Akanksha Power and Infrastructure Limited is in the business of providing sustainable and reliable power solutions. The company started its commercial operation in 2010, as an ‘input-based rural power distribution franchise (DF)’ in Khaira Electrical Subdivision, Balasore, Odisha. 

Akanksha Power and Infrastructure has two manufacturing facilities in Nashik, Maharashtra, and makes electric equipment. This includes electrical panels, instrument transformers, and vacuum contactors, catering to a diverse range of clients such as institutions, industries and electricity transmission and distribution utilities. 

The company also offers turnkey solutions in Odisha. Other services by Akanksha Power and Infrastructure include distribution and management of electricity. Additionally, it manages the electrical distribution network for the distribution companies (“DISCOMs”). It also provides  APFC Panels and undertakes Green field street lighting Projects. 

The company has an ISO 9001:2015 certification. Its portfolio of services includes:

●    Supply of CT-PT, Metering Units and Cubical
●    Automatic power correction panel (Capacitor Panel)
●    Fixed capacitor banks
●    Motor Control Centre (MCC)
●    Power Control Centre (PCC)
●    Variable Frequency Drive (VFD) Panels
●    Thyristor switches and Vacuum contactors
●    Energy Management System and Smart Energy Meters (Advanced Metering Infrastructure)
●    Engineering and execution of electrical turnkey projects
 
Some of the renowned clients of Akanksha Power and Infrastructure are Military Engineer Services, Indian Oil Corporation Limited, Coal India Limited, Larson & Toubro Limited, NALCO, and more. 

Peer Comparison

●    HPL Electric & Power Limited
●    Genus Power Infrastructure Limited
●    Cospower Engineering Limited

 

For More Information:
Webstory on Akanksha Power and Infrastructure IPO
Akanksha Power and Infrastructure IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 46.09 51.83 74.24
EBITDA 5.22 4.81 6.85
PAT 2.90 2.41 3.92
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 47.63 38.39 37.81
Share Capital 1.815 1.815 1.815
Total Borrowings 31.67 25.34 27.17
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 4.02 -4.28 5.61
Net cash from / (used in) investing activities -7.47 0.062 -3.11
Net cash flow from / (used in) financing activities 6.94 2.98 -1.09
Net increase (decrease) in cash and cash equivalents 3.49 -1.24 1.40


Strengths

1.    The company has Strong and Unique Product Technology. 
2.    It has ISO 9001:2015 certification for quality. 
3.    It has a strong customer and contractor base.
4.    It is a well-established brand and has many renowned clients. 
5.    A wide product offering.
6.    Experienced Promoters and Management. 
 

Risks

1.    There is a downward trend of revenue during the last financial year and stub period. 
2.    The company has reported negative cash flows in the past.
3.    A significant portion of the revenue is from government tender in the past.
4.    Revenue is also dependent on a few States in India. 
5.    High working capital requirements. 
6.    APFC Panels and Green field street lighting Projects contribute majorly to revenue. 
7.    Global Shortage in chip supply could impact the business. 
 

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FAQs

The minimum lot size of Akanksha Power IPO is 2000 shares and the investment required is ₹1,04,000.

The price for Akanksha Power IPO is ₹52 to ₹55 per share. 

Akanksha Power and Infrastructure IPO opens from from 27th December to 29th December 2023.

The size of Akanksha Power IPO is ₹27.49 cr. 

The share allotment date of Akanksha Power IPO is 1st January 2024.

The Akanksha Power IPO will be listed on 3rd January 2024.

Narnolia Financial Services Ltd is the book-running lead manager for Akanksha Power IPO.

Akanksha Power and Infrastructure plans to utilize the raised capital from the IPO to:

1.    To fund the working capital requirements and working expenditure requirements. 
2.    General corporate purposes.
3.    For funding public issue expenses.  
 

To apply for Akanksha Power IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Akanksha Power and Infrastructure Limited IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.