Akanksha Power and Infrastructure IPO - Review, Date & Today GMP

Akanksha Power and Infrastructure Limited - Complete Overview

Established in 2008, Akanksha Power and Infrastructure Limited specializes in providing sustainable and reliable power solutions.

Initially, from 2008 to 2010, the company was primarily involved in the trading of capacitors, sourced from EPCOS India Private Limited, which is now known as TDK Electronics.

The company's significant commercial activities commenced in 2010 when it secured an input-based rural power distribution franchise (DF) in the Khaira Electrical Subdivision of Balasore, Odisha. By 2013, the company had established manufacturing facilities and commenced the production of APFC Panels to offer power-quality solutions.

Furthermore, Akanksha Power and Infrastructure Limited expanded its business scope to include the turnkey construction of High Tension (HT) and Low Tension (LT) electrical infrastructure, such as 33/11 KV substations and distribution substations. In 2016, the company diversified its product portfolio by introducing items like Current Transformers (CT), Potential Transformers (PT), and Residual Voltage Transformers (RVT), designed for measuring current and voltage in electrical systems.

In 2018, the company successfully secured greenfield LED street light projects on a turnkey basis in 12 districts of Odisha. Presently, the company is actively engaged in providing operation and maintenance (O&M) services for these projects for the next 7 years.

In 2019, the company launched another innovative product: Vacuum Contactors, specifically engineered for heavy-duty applications, known for their reliable operation even in harsh environments. Additionally, the company introduced capacitor switches, which enhance the efficiency of power systems. The company is now gearing up to launch its Advanced Metering Infrastructure (AMI) to effectively manage technical and commercial losses.

Currently, Akanksha Power and Infrastructure Limited operates two manufacturing plants located in Nashik, Maharashtra, India.

 

What does the company do?

Akanksha Power and Infrastructure Limited specializes in providing sustainable and reliable power solutions.

 

 

Company Products 

APFC Panel, Low voltage and medium voltage capacitor banks, MV APFC Panel, CT, PT, RVT, Metering Cubicle, Vacuum Contactor (Capacitor Switch), PCC / MCC /VFD Panels, Residual Voltage Transformer (RVT), Thyristor Modules, Automatic Power Factor Correction (APFC) relay, Instrument Transformer, Outdoor Oil cooled Voltage Transformer, Outdoor Oil cooled current Transformer, Indoor Epoxy Resin Instrument Transformer, Universal Measuring Instruments, Power quality analyzers and Energy Management System, and DC UPS And Power Supply.

 

IPO Overview

The Akanksha Power and Infrastructure Limited IPO date is set to open for subscription from September 29, 2023, to October 4, 2023. This SME IPO is anticipated to be listed on October 12, 2023.

The Akanksha Power and Infrastructure Limited's IPO price is fixed between Rs. 40 to Rs. 45 per share. The company aims to raise Rs. 22.48 Crores in funds through this upcoming SME IPO.

To stay informed about the upcoming IPO, please visit the Finowing IPO section.

 

Akanksha Power and Infrastructure Limited IPO timetable (Tentative)

Events	Date
IPO Opening Date	29 September 2023
IPO Closing Date	4 October 2023
IPO Allotment Date	9 October 2023
Refund initiation	10 October 2023
IPO Listing Date	12 October 2023

 

Akanksha Power and Infrastructure Limited IPO Details

IPO Opening & Closing Date	29 September to 4 October 2023
Face value	Rs. 10 per share
Issue Price	Rs. 40 to Rs. 45 per share
Lot Size	3000 Shares
Price of 1 lot	Rs. 135,000
Issue Size	4,995,000 Shares (aggregating up to Rs. 22.48 Cr)
Offer for sale	NA
Fresh issue	4,995,000 Shares (aggregating up to Rs. 22.48 Cr)
Listing at	NSE SME
Issue Type	Book Built Issue IPO
Registrar	Link Intime India Pvt. Ltd.

 

Akanksha Power and Infrastructure Limited IPO Lot Details 

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
Minimum Lot Investment (HNI)	2 Lot

 

Akanksha Power and Infrastructure Limited IPO Reservation

Institutional Share Portion	50%
Non-Institutional Share Portion	15%
Retail Share Portion	35%

 

Company Financial

Amount in Lakhs

Period	FY 21	FY 22	FY 23
Total Assets	3,781.19	3,838.92	4,762.65
Total Revenue	7,441.05	5,206.50	4,644.03
PAT	392.12	240.92	290.50
Net worth	1,064.50	1,305.42	1,595.94
Reserve & Surplus	883.00	1,123.92	1,414.44
Total Borrowings	891.47	1,055.03	1,527.68

 

Segment-wise Revenue Breakup of the Company

(Amount in Lakhs)

Particulars	FY 23	FY 22	FY 21
Sale of Products	2,483.20	1,276.64	1,543.40
Sales of Services & Turnkey Execution	2,126.24	2,617.49	4,533.37
Sale of Power	0.00	1,289.57	1,350.58
Total	4,609.44	5,183.70	7,427.35

 

Product-wise Revenue Breakup of the Company

(Amount in Lakhs)

Product	FY 23	FY 22	FY 21
Sale of Products
Electrical Panel	1758.90	707.02	1102.18
Current / Potential Transformer	308.76	119.19	158.71
Vacuum Contactor	415.55	450.43	282.51
Sales of Services & Turnkey Execution
Erection & Commissioning	11.58	-	167.98
Sales of Service / Execution works	2114.65	2617.49	4319.25
Inspection Fees	-	-	-
Installation Charges	-	-	46.14
Sale of Power
Electricity Distribution Franchise	-	1289.57	1,350.58
Total	4,609.44	5,183.70	7,427.35

 

Geography-wise Revenue Breakup of the Company

(Amount in Lakhs)

State Name	FY 23	FY 22	FY 21
Andhra Pradesh	29.12	0.00	1.61
Chhattisgarh	115.22	2.76	-
Dadra & Nagar Haveli	0.00	0.00	0.50
Delhi	0.00	1.99	2.08
Gujarat	73.68	82.19	22.47
Haryana	0.00	0.05	32.89
Jharkhand	4.25	106.69	-
Karnataka	106.14	324.30	215.59
Kerala	0.00	0.00	-
Madhya Pradesh	32.88	137.21	338.83
Maharashtra	1,744.81	341.04	229.93
Odisha	2,357.93	4157.46	6537.06
Punjab	2.20	0.00	-
Rajasthan	11.46	0.00	-
Tamil Nadu	7.72	7.71	4.14
Telangana	1.65	1.16	-
Uttar Pradesh	17.14	20.27	8.11
West Bengal	105.24	0.87	34.15
Total (A)	4609.44	5183.70	7427.35

 

Objective of the Issue

The funds raised through the IPO were allocated to achieve the following objectives:

• Fulfilling the Company's capital expenditure needs.
• Addressing the Company's working capital requirements.
• Covering general corporate purposes.
• Managing the expenses associated with the IPO.

 

Promoters and Management of Akanksha Power and Infrastructure Limited

Mr. Bipin Bihari Das Mohapatra and Ms. Chaitali Bipin Das Mohapatra are the promoters of the company.

Pre-issue Promoter Shareholding	83.28%
Post-issue Promoter Shareholding	60.81%

 

Peer Comparison 

Below are the listed peers of Akanksha Power and Infrastructure Limited 

Company Name	CMP (Rs)	EPS (Rs)	P/E Ratio
Akanksha Power and Infrastructure Limited	-	2.29	-
HPL Electric & Power Limited	217.50	4.69	18.07
Genus Power Infrastructure Limited	253.90	1.26	67.22
Cospower Engineering Limited	320.00	1.39	216.65

 

IPO's Valuations

Akanksha Power and Infrastructure Limited IPO price is set between Rs. 40 to Rs. 45 per share and an EPS of Rs. 2.29, at the upper end of the price range, the company's IPO valuation reflects a PE ratio of 19.65.

 

Dividend Policy

According to the Akanksha Power and Infrastructure Limited IPO DRHP, the company has not distributed any dividends in the past. Nevertheless, the potential for future dividend payments is contingent upon the company's financial performance.

 

IPO's Strengths 

• Robust and Distinctive Product Technology.
• Seasoned Promoters, Management Team, and a proficient workforce.
• Sustained Excellence in Quality and Service Standards.
• Established and Reliable Supplier Relationships.
• Steady and loyal customer base.
• Diverse Portfolio of Products and Services.

 

IPO Weaknesses 

• The current promoters of the company are entrepreneurs of the first generation.
• The company is currently engaged in legal proceedings and litigation.
• The restated financials of the company indicate a decline in revenue in the last fiscal year and the recent period.
• The company has experienced negative cash flows from its operations, investments, and financing activities in both the current and previous years.
• A significant portion of the company's revenue is derived from specific states in India, and any loss of business from these states could negatively impact its revenues.
• The Statutory Auditor of the company has highlighted certain matters in its report.
• The primary source of the company's revenue comes from the sale of products such as APFC Panels and greenfield street lighting projects.
• The company operates in highly competitive markets.
• The company requires various quality certifications, approvals, licenses, registrations, and permits to conduct its business.
• Certain agreements, deeds, licenses, statutory approvals, and certificates may be registered under the company's previous name.

 

 

IPO GMP Today

Latest GMP of Akanksha Power and Infrastructure SME IPO is Rs. 5.

 

Conclusion 

Operating within a fiercely competitive market, Akanksha Power and Infrastructure Limited has encountered negative cash flow. Nevertheless, the company boasts a resilient customer base and provides a wide array of products. It is recommended to carefully assess all these factors before considering an investment in the offering.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the RHP.

 

 

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