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Founded in July 2008, 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 (MCC), power control centre (PCC), variable frequency drive (VFD) panels, thyristor switches and vacuum contactors. The company also offers energy management systems and smart energy metres (Advanced Metering Infrastructure). In addition, the company offers engineering and implementation services for turnkey electrical projects.
In addition to production and manufacturing, the company also offers services related to the distribution and management of electricity. The company’s operations include setting up electrical infrastructure that includes power quality testing, site analytics, online cloud-based multiple monitoring and data analytics for better management. The company aims to reduce losses in transmission, distribution and at the user level.
The company’s customer base includes Military Engineer Services, Hindustan Aeronautics Limited, Coal India Limited, HINDALCO Industries Limited, Indian Oil Corporation Limited, Ordnance Factory Board, Larson & Toubro Limited, NALCO, ABB India Private Limited, Hitachi Energy India Limited, TPCODL (Tata Power Group), Jindal Stainless Limited, National Mineral Development Corporation Limited, Steel Authority of India Limited, Thyssenkrupp Electrical Steels Limited, Kutch Copper Limited (Adani Group) and TPNODL (Tata Power Northern Odissa Distribution Limited).
The company is certified as an ISO 9001:2015 compliant organisation
The company has two manufacturing facilities in Satpur, Nashik, Maharashtra, India.
As of June 30, 2023, the company has 62 permanent employees and 387 contract employees who are paid on a daily basis.
As of June 30, 2023, Odisha contributed 34.61% to the company’s total revenue, while Maharashtra, Chhattisgarh, Karnataka and Gujrat contributed 8.77%, 0.10%, 3.19% and 1.30%, respectively.
Akanksha Power and Infrastructure IPO Details
| IPO Date | December 27, 2023 to December 29, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹52 to ₹55 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,998,000 shares (aggregating up to ₹27.49 Cr) |
| Fresh Issue | 4,998,000 shares (aggregating up to ₹27.49 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 11,260,200 |
| Share holding post issue | 16,258,200 |
| Market Maker portion | 260,000 shares |
Akanksha Power and Infrastructure IPO Timeline (Tentative Schedule)
Akanksha Power and Infrastructure IPO opens on December 27, 2023, and closes on December 29, 2023.
| IPO Open Date | Wednesday, December 27, 2023 |
| IPO Close Date | Friday, December 29, 2023 |
| Basis of Allotment | Monday, January 1, 2024 |
| Initiation of Refunds | Tuesday, January 2, 2024 |
| Credit of Shares to Demat | Tuesday, January 2, 2024 |
| Listing Date | Wednesday, January 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 29, 2023 |
Akanksha Power and Infrastructure IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹110,000 |
| Retail (Max) | 1 | 2000 | ₹110,000 |
| HNI (Min) | 2 | 4,000 | ₹220,000 |
Akanksha Power and Infrastructure IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Akanksha Power and Infrastructure IPO Promoter Holding
The promoter of the Company is Mr Bipin Bihari Das Mohapatra and Ms Chaitali Bipin Dasmohapatra.
| Share Holding Pre Issue | 83.28% |
| Share Holding Post Issue | 60.81% |
Akanksha Power and Infrastructure IPO Anchor Investors Details
Akanksha Power and Infrastructure IPO raises Rs 7.80 crore from anchor investors. Akanksha Power and Infrastructure IPO Anchor bid date is December 26, 2023.
| Bid Date | December 26, 2023 |
| Shares Offered | 1,418,000 |
| Anchor Portion Size (In Cr.) | 7.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | February 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 15, 2024 |
Akanksha Power and Infrastructure Limited Financial Information (Restated)
Akanksha Power and Infrastructure Limited’s revenue decreased by -10.8% and profit after tax (PAT) rose by 20.58% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,530.82 | 4,762.65 | 3,838.92 | 3,781.19 |
| Revenue | 1,027.27 | 4,644.03 | 5,206.50 | 7,441.05 |
| Profit After Tax | 71.06 | 290.50 | 240.92 | 392.12 |
| Net Worth | 2,074.75 | 1,595.94 | 1,305.42 | 1,064.50 |
| Reserves and Surplus | 722.70 | 1,414.44 | 1,123.92 | 883.00 |
| Total Borrowing | 1,722.62 | 1,527.68 | 1,055.03 | 891.47 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 24.02 |
| ROE | 18.20% |
| ROCE | 22.75% |
| Debt/Equity | 0.96 |
| EPS (Rs) | 2.29 |
| RoNW | 18.20% |
Objects of the Issue (Akanksha Power and Infrastructure IPO Objectives)
The objects of the Issue are:-
- To meet out the Capital Expenditure Requirement of Company;
- To meet out the Working Capital requirements of the Company;
- To meet out the General Corporate Purposes; and
- To meet out the Issue Expenses.
