Akanksha Power and Infrastructure Ltd. logo

Akanksha Power and Infrastructure was founded on July 1, 2008, with the aim of offering efficient, cost-effective power solutions through APFC panels, AMI infrastructure with smart meters, and power quality measurement products

Bidding Dates
27 Dec 2023 - 29 Dec 2023
Subscription
108.93x Oversubscribed
Minimum InvestmentMinimum LotMaximum LotLot SizeNumber of SharesIssue Price BandPost Issue Promoter Holding %Issue SizeIPO Document
₹104,0001120005.0 M₹52 - ₹5560.81 %₹259.9 M - ₹274.9 MRHP DOC

Akanksha Power IPO SUBSCRIPTION STATUS

29 Dec '23
Total108.93x
Retail Individual Investor146.31x
HNI (NII) Investors316.83x
Qualified Institutional Buyers20.39x

Akanksha Power IPO overall subscription rate was 108.93 times the total available shares

Akanksha Power IPO retail subscription rate was 146.31 times in the retail segment

Akanksha Power IPO non-institutional investor subscription rate was 316.83 times in the non-institutional investor category

Akanksha Power IPO Qualified Institutional Bidder subscription rate was 20.39 times the available shares for Qualified Institutional Bidder

DayRetail Individual InvestorHNI (NII) InvestorsQualified Institutional Buyers
Category Reservation35%15%50%
29 Dec 2023
(Day 3)
146.31x316.83x20.39x
28 Dec 2023
(Day 2)
35.71x22.11x3.73x
27 Dec 2023
(Day 1)
5.16x2.31x3.71x

Akanksha Power FINANCIALS

Period Net Profit (Rs in millions) Revenue from Operations (Rs in millions) Cash Flow from Operations (Rs in millions) Free Cash Flow (Rs in millions) Margins
Q1FY24 7.1 98.8 -14.3 -16.3 9.2%
FY23 29.1 460.9 40.2 -29.9 11.3%
FY22 24.1 518.4 -42.8 -52.4 9.3%
FY21 39.2 742.7 56.1 48.8 9.2%

Akanksha Power IPO SUBSCRIPTION STATUS DETAILS

Akanksha Power had 5.0 M shares on offer

Akanksha Power IPO offer price was in the range ₹52 - ₹55

Akanksha Power IPO minimum Investment was ₹104000

Akanksha Power IPO issue size was ₹ 259.9 M - ₹ 274.9 M

Akanksha Power had a minimum lot size of 2000 Shares per application

Akanksha Power NUMBER OF SHARES ON OFFER

Total5.0 M
Fresh Issue5.0 M
Offer for Sale0
Post Issue Promoter Holding %60.81 %

Akanksha Power IPO IMPORTANT DATES

Issue Open Date27 Dec 2023
Issue close Date29 Dec 2023
Allotment Date01 Jan 2024
Refund Date02 Jan 2024
Demat Account Credit Date02 Jan 2024
Listing Date03 Jan 2024
Listing on Exchange(s)NSE
Akanksha Power Allotment StatusExchange

Akanksha Power IPO subscription opened on 27 Dec 2023, and closed on 29 Dec 2023

IPO allotment for Akanksha Power was finalized on Monday, 01 Jan 2024

IPO listing for Akanksha Power was on NSE on Wednesday, 03 Jan 2024

Akanksha Power IPO LISTING GAINS

Issue Price (adjusted)55.0
Listing Open Price62.0
Listing Close Price65.1
Listing Gain%12.7%
Current Gain%178.8%

Akanksha Power Peer

StockStock PriceMarket Cap (Rs crore)PE TTMPEG TTMPS TTMROE%ROA%Annual Revenue (Rs crore)Annual Revenue Growth %Annual Net Profit (Rs crore)Annual Net Profit Growth %EPS TTMEPS TTM Growth %
Akanksha Power and Infrastructure Ltd.153.428451.31.93.18.24.19315.85.934.9327.6
Waaree Energies Ltd.230466274.917.90.52.125.712.327244.983.53711.398.7128.436.8
Apar Industries Ltd.1567865651.847.712.618.17.122966.922.9976.918.9328.946.6
Havells India Ltd.1013.863559.338.22.82.517.911.523022.24.31690.614.826.513.7
Premier Energies Ltd.87639766.223.90.44.73513.98025.920.71509.861.136.759.1
Syrma SGS Technology Ltd.1625.331281.274.20.9511.15.54856.926.6317.887.121.984.8

Akanksha Power INFORMATION ON IPO ISSUE

About Akanksha Power

Akanksha Power and Infrastructure was founded on July 1, 2008, with the aim of offering efficient, cost-effective power solutions through APFC panels, AMI infrastructure with smart meters, and power quality measurement products

Object of the Issue

  1. To meet the capital expenditure requirement of the company
  2. To meet the working capital requirements of the company
  3. To meet the general corporate purposes
  4. To meet the issue expenses

Akanksha Power - PROMOTERS

Name
Bipin Bihari Das Mohapatra
Chaitali Bipin Dasmohapatra

Akanksha Power Lead Manager to the Issue

Narnolia Financial Services Limited

pankaj.passi@narnolia.com

Akanksha Power Registrar to the Issue

Link Intime India Private Limited

akanksha.ipo@linkintime.co.in

Akanksha Power Strengths

Strong and unique product portfolio

Power supplies constitute one of the core business activities for the company, specifically designed for industrial applications. The product range includes AC-DC switching power supplies, programmable power supplies, DC-DC converters, and power supplies intended for charging storage batteries

Strength

Quality and service standards

The company holds an ISO 9001:2015 certification, attesting to its quality management standards in the design, manufacturing, and supply of various electrical products and solutions. These include CTPT, metering units and cubicles, automatic power correction panels, fixed capacitor banks, Thyristor switches, and vacuum contactors. The certification also covers the execution of electrical turnkey projects, among other activities

Strength

Akanksha Power Risks

Legal proceedings

The company faces ongoing legal proceedings that could result in penalties and negatively impact the business if resolved adversely

Risk

Negative cash flows

The company has experienced negative cash flows from its operating, investing, and financing activities in both current and past years. Continued negative cash flow could adversely affect growth

Risk

IPO FAQs

  • The promoters of the company are Bipin Bihari Das Mohapatra and Chaitali Bipin Dasmohapatra.
  • The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
  • The price band of the IPO is Rs 52.0 - 55.0.
  • The IPO application opens on Dec 27, 2023 and closes on Dec 29, 2023.
  • The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
  • For all category investors, the minimum application amount for this IPO is Rs. 104,000.0, the maximum value for this IPO is Rs 110,000.0.
  • This IPO will be allotted on Jan 01, 2024.
  • The refund will be credited to your account on Jan 02, 2024.
  • The allotted shares will be credited to your demat on Jan 02, 2024.
  • Akanksha Power and Infrastructure Ltd.’s shares listed on the stock exchanges on Jan 03, 2024.