Akanksha Power & Infrastructure Ltd IPO Timeline
Akanksha Power & Infrastructure Ltd IPO opens on 27-Dec-2023, and closes on 29-Dec-2023. The Akanksha Power & Infrastructure Ltd IPO bid date is from 27-Dec-2023 to 29-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
|Akanksha Power & Infrastructure Ltd IPO Opening Date
|Akanksha Power & Infrastructure Ltd IPO Closing Date
|Basis of Allotment
|Initiation of Refunds
|Credit of Shares to Demat
|Akanksha Power & Infrastructure Ltd IPO Listing Date
Akanksha Power & Infrastructure Ltd IPO Lot Size
Akanksha Power & Infrastructure Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 110000).
Akanksha Power & Infrastructure Ltd IPO Details
|Akanksha Power & Infrastructure Ltd IPO Date
|27-Dec-2023 to 29-Dec-2023
|Akanksha Power & Infrastructure Ltd IPO Face Value
|Shares of ₹10 per share
|Akanksha Power & Infrastructure Ltd IPO Price
|₹52 to ₹55 per share
|Akanksha Power & Infrastructure Ltd IPO Lot Size
|Shares of ₹10 (aggregating up to ₹27.49 Cr)
|Shares of ₹10 (aggregating up to ₹27.49 Cr)
|Offer for Sale
|Book Building - SME
|NSE - SME
|QIB Shares Offered
|Retail Shares Offered
|NII (HNI) Shares Offered
|Bipin Bihari Das Mohapatra, Chaitali Bipin Dasmohapatra.
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Capital expenditure
- 2 Working capital requirement
- 3 General corporate purposes
Akanksha Power & Infrastructure Ltd Financial Information (Restated)
|Profit After Tax
|Amount in ₹ Crore
- Good track record.
- Government support to power sector and electric equipment industry.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with its consumers.
- Quality assurance and control.
- The present promoters of the Company are first generation entrepreneur.
- The Company is involved in certain legal proceedings/litigations. Any adverse decision in such proceedings may render it/them liable to penalties and may adversely affect its business and result of operations.
- The company does not own its factory premises situated at F-97, MIDC, Satpur, Nashik- 422007, Maharashtra, India.
- The company does not have long term contracts with its suppliers and therefore, there may be potential unavailability of raw materials in future, which may adversely affect its business operations.
- The restated financials of the Company show a downward trend of revenue during the last financial year and stub period. If these trends continue, its business operations and financial condition may be adversely affected.
- The Company operation and growth is dependent upon successfully implementation its business strategies.
- The Company has negative cash flows from its operating, investing activities and financing activities in the current and past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
- The company has obtained some of its contracts through government tenders, unavailability or any failure to secure these tenders in the future may adversely affect its business operations and financial conditions.
- If the company is experience delays and/or defaults in client payments, its may be unable to recover all expenditures.
- Its business operations are subject to various operating risks at the company sites, accidental risk, the occurrence of which can affect its results of operations and consequently, financial condition of the Company.
- The Company has obtained unsecured loans amounting to Rs. 543.28 Lakhs that may be recalled by the lenders at any time.
- Its contingent liabilities as stated in the company Restated Financial Statements could adversely affect its financial condition.
- Significant portion of its revenue has been generated from some states of India, any loss of business from these states may adversely affect its revenues and profitability.
- Its top ten customers contribute significant portion of the company revenues during the current and previous financial years. Any loss of business from one or more of them may adversely affect its revenues and profitability.
- The Statutory Auditor of the Company in its report has given emphasis on certain matter.
- Its inability to effectively manage project execution may lead to project delays which may affect its business and results of operations.
- The Company operations requires significant amount of working capital for a continuing growth. Its inability to meet the company working capital requirements may adversely affect its results of operations.
- There is no monitoring agency appointed by the Company and the deployments of funds are at the discretion of its Management and its Board of Directors, though it shall be monitored by the Audit Committee.
- The company unable to work on its full potential and utilized its full capacity for the production and manufacturing of products.
- The Objects of the Issue for which funds are being raised, are based on its management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
- The Company may incur penalties or liabilities for non-compliances with certain provisions of the GST Act and other applicable laws in the last Years.
- The Company may incur penalties or liabilities for non-compliances with certain provisions of the EPF Act and other applicable laws in the last Years.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the issue price.
- Its major revenue is sourced from sale of the company products such as APFC Panels and Green field street lighting Projects. Its inability or failure to manage and attract more clients in this regards could adversely affect its business.
- Its Promoters, Directors have provided personal guarantees to loan facility availed by it, which if revoked may require alternative guarantees, repayment of amount due or termination of the facilities.
- Any disagreements or disputes with its Chinese suppliers regarding the imported raw materials could have an impact on its operational outcomes and financial state.
- Global Shortage in chip supply could have adverse effects its manufacturing process.
- Its profitability and business operations is significantly dependent on the company ability to successfully anticipate the industry and client requirements. Any failure on its part to do so, may have an impact on the company operations, which could have an adverse effect on its revenue, reputation, financial conditions, results of operations and cash flows.
- The Company has entered into certain related party transactions in the past and may continue to do so in the future.
- The company operate in highly competitive markets and its inability to compete effectively may lead to lower market share or reduced operating margins, and adversely affect its results of operations.
- In addition to normal remuneration, other benefits and reimbursement of expenses some of its Directors (including its Promoters) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- If the company fail to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report its financial risk.
- Any infringement of third party intellectual property rights or failure to protect its intellectual property rights may adversely affect its business.
- The company requires certain quality certifications, approvals, licenses, registrations and permits to operate its business, and failure to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals may adversely affect its operations and financial conditions.
- Certain Agreements, deeds or licenses, statutory approvals and certificates may be in the previous name of the company, the company has to update the name of the company in all the statutory approvals and certificates due to the conversion of the Company.
- The company is subject to stringent labour laws or other industry standards and any strike, work stoppage, Lock-out or increased wage demand by its employees or any other kind of disputes with the company employees could adversely affect its business, financial condition and results of operations.
- The company is dependent on its promoters and its management team and the loss of, or the company's inability to hire, retain, train, and motivate qualified personnel could adversely affect its business, results of operations and financial condition.
- Its Promoters, together with its Promoter Group, will continue to retain majority shareholding in the Company after the Issue, which will allow them to exercise significant control over it. The company cannot assure you that its Promoters and Promoter Group will always act in the best interests of the Company or you.
- The company is subject to various laws and regulations and required to comply with several regulatory compliance requirement, in jurisdictions where its operate, including environmental and health and safety laws and regulations, which may subject it to increased compliance costs, which may in turn result in an adverse effect on its financial condition.
- Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and U.S. GAAP, which may be material to investors' assessments of its financial condition, result of operations and cash flows.
- The Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuations.
- The Company has not paid any dividend in past 3 financials years and its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- Industry information included in this Red Herring Prospectus has been derived from an industry report from various websites. The reliability on the forecasts of the reports could be incorrect and would significantly impact its operations.
- The Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by it, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
- There are certain restrictions on daily movements in the price of Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
- Market price of its share will be decide by market forces and issue price of equity share may not be indicative of the market price its share price after the issue.
- Expand its geographical network.
- Expand its product range with focus on value added products.
- Increasing Operational Efficiency.
- Rationalization of its Working Capital Cycle.
- Quality Assurance.
Akanksha Power & Infrastructure Ltd IPO Promoter Holding
|Pre Issue Share Holding
|Post Issue Share Holding
Akanksha Power & Infrastructure Ltd IPO Subscription Status (Bidding Detail)
The Akanksha Power & Infrastructure Ltd IPO is subscribed - times on Dec 29, 2023 05:00:00 PM. 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)
Akanksha Power & Infrastructure Ltd IPO Prospectus
Akanksha Power & Infrastructure Ltd IPO Listing Date
|03 Jan 24
|NSE - SME
Akanksha Power & Infrastructure Ltd IPO Registrar
Link Intime India Pvt Ltd
Phone: +91 8108114949;
Akanksha Power & Infrastructure Ltd IPO Lead Manager(s)
- Narnolia Financial Services Ltd
FAQs on Akanksha Power & Infrastructure Ltd IPO
Akanksha Power & Infrastructure Ltd IPO, which opens for subscription from 27-Dec-2023 to 29-Dec-2023 has an issue size of ₹27.49 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Akanksha Power & Infrastructure Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Akanksha Power & Infrastructure Ltd IPO Opens for subscription from 27-Dec-2023 to 29-Dec-2023.
The lot size of Akanksha Power & Infrastructure Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹110000 and ₹110000 respectively.
Allotment date for Akanksha Power & Infrastructure Ltd is 01-Jan-2024 and refund of application amount (in case allotment is not received) will begin from 02-Jan-2024. If your allotment goes through, then shares will be credited in your Demat account by 02-Jan-2024.
The registrar for Akanksha Power & Infrastructure Ltd IPO is Link Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.
The shares of Akanksha Power & Infrastructure Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).