Akanksha Power & Infrastructure
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 27 Dec 2023 – 29 Dec 2023
- Listing date
- 03 Jan 2024
- Face value
- ₹10 per share
- Issue price
- ₹55 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹27.49 Cr
- Market cap at offer price
- ₹102 Cr
- Promoter holding
- 83.28% → 60.81% pre-issue → post-issue
- ISIN
- INE0PCY01014
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Narnolia Financial Services Ltd.
- Registered office
- Plot No.87/4, MIDC,, Satpur, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 14,18,000 | — | — |
| Market maker | 2,60,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹55
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,10,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,20,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,90,000 |
| B-HNI (min) | 10 | 20,000 | ₹11,00,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 2.29 | — |
| P/E (×) | 24.02 | — |
| Market cap | — | ₹102 Cr |
Key performance indicators
- Return on net worth
- 18.20%
- ROCE
- 22.75%
- Debt / equity
- 0.96
- PAT margin
- 6.16%
- NAV per share
- ₹87.93
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Akanksha Power & Infrastructure
Akanksha Power and Infrastructure Limited, incorporated in 2008 and converted to public limited company in 2023, is engaged in the business of manufacturing electrical equipment with emphasis on power quality solutions. The company manufactures APFC panels, instrument transformers (CT/PT), vacuum contactors, and related electrical panels, serving institutional, industrial, and electricity distribution clients. Beyond manufacturing, the company provides services related to distribution and management of electricity, including power quality audits, online cloud-based monitoring, and support to DISCOMs for reducing distribution losses. The company has expanded into turnkey projects including supply, installation, erection, commissioning and maintenance of electrical infrastructure up to 33 KV, greenfield LED streetlighting projects, and operation/maintenance of electrical distribution networks in rural areas.
Company Analysis
from RHPAkanksha Power and Infrastructure manufactures electrical equipment including APFC panels, instrument transformers, and vacuum contactors while providing power quality solutions and engineering services to utilities and industries.
Akanksha Power and Infrastructure Limited, incorporated in 2008 and converted to public limited company in 2023, is engaged in the business of manufacturing electrical equipment with emphasis on power quality solutions. The company manufactures APFC panels, instrument transformers (CT/PT), vacuum contactors, and related electrical panels, serving institutional, industrial, and electricity distribution clients. Beyond manufacturing, the company provides services related to distribution and management of electricity, including power quality audits, online cloud-based monitoring, and support to DISCOMs for reducing distribution losses. The company has expanded into turnkey projects including supply, installation, erection, commissioning and maintenance of electrical infrastructure up to 33 KV, greenfield LED streetlighting projects, and operation/maintenance of electrical distribution networks in rural areas.
Objects of the Issue
- Capital Expenditure Rs 500.00 Lakh p.79
- Working Capital Requirements Rs 1,500.00 Lakh p.82
- General Corporate Purposes Not to exceed 25% of gross proceeds p.86
- Issue Related Expenses Rs [●] Lakh (as of December 13, 2023: Rs 14.90 Lakh incurred) p.86
Issue Structure
- Total Issue
- 49,98,000 Equity Shares at Rs [●] per share (Floor Price: Rs 52, Cap Price: Rs 55)
- Fresh Issue
- 49,98,000 Equity Shares
- Offer for Sale
- NIL
- Price Band
- Floor Price Rs 52 per share (5.20 times face value); Cap Price Rs 55 per share (5.50 times face value)
- Lot Size
- 2,000 Equity Shares and in multiples of 2,000 Equity Shares thereafter
- Face Value
- Rs 10 per Equity Share
Business Model
The company operates a B2B model with three primary revenue streams: (1) Sale of electrical products including APFC panels, instrument transformers and vacuum contactors; (2) Services and turnkey execution including power quality audits, monitoring, site analysis, and project management; (3) Distribution management services and O&M contracts with electricity distribution companies. Revenue is generated through direct contractual arrangements with power utilities, through project contractors, and from government tenders.
Business Segments
SWOT Analysis
- • ISO 9001:2015 certified with established manufacturing processes(p.123)
- • Strategic technology partnerships with global leaders(p.150)
- • Experienced managing director with 23+ years industry experience(p.150)
- • Strong track record of executing large-scale projects(p.132)
- • Wide range of customizable products serving diverse sectors(p.151)
- • High working capital requirements for operations(p.33)
- • No long-term contracts with suppliers creating raw material availability risk(p.28)
- • Significant dependence on few customers for revenues(p.30)
- • Company lacks clear title to one factory premises under litigation(p.27)
- • Negative cash flows from operating and investing activities(p.29)
- • Government initiative to install 250 million smart meters by 2025(p.119)
- • Revamped Distribution Sector Scheme with ₹3,03,758 crores outlay for smart metering(p.156)
- • Growing demand for power quality solutions in DISCOMs(p.125)
- • Expansion into smart water and gas meter segments(p.162)
- • Indian power sector expected to add 500 GW renewable energy by 2030(p.121)
- • Revenue concentration in Odisha state creates geographic risk(p.30)
- • High competition with low entry barriers in electrical equipment sector(p.150)
- • Cyclical nature of electrical equipment industry and economic slowdown risk(p.45)
- • Dependence on government tender process for major projects(p.29)
- • Global economic slowdown and geopolitical tensions affecting imports(p.45)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Bipin Bihari Das Mohapatra | Promoter | 45.82% | 33.45% |
| Chaitali Bipin Dasmohapatra | Promoter | 31.58% | 23.06% |
| Akanksha Bipin Das Mohapatra | Promoter Group | 5.18% | 3.78% |
| Harshit Bipin Das Mohapatra | Promoter Group | 0.70% | 0.51% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.