Akanksha Power and Infrastructure IPO

Akanksha Power and Infrastructure Limited

₹1,04,000 /2000 sharesMinimum Investment

Akanksha Power and Infrastructure IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹55.00₹62.00₹7.00 (12.73%)

Akanksha Power and Infrastructure IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
27 Dec ‘23 - 29 Dec ‘23₹1,04,0002,000₹52 - ₹55
Issue SizeIPO Doc
27.49Cr
RHP PDF

About Akanksha Power and Infrastructure

Akanksha Power and Infrastructure Limited, established in 2008, is engaged in manufacturing electrical equipment such as electrical panels, instrument transformers, and vacuum contactors. The company operates two plants, focusing on institutions, industries, and electricity transmission and distribution utilities as its primary customer base. In addition to manufacturing, Akanksha Power offers services in power distribution and management. This includes establishing electrical infrastructure, power quality audits, site analysis, and cloud-based monitoring to optimize power usage and minimize losses. The company also manages electrical distribution networks for DISCOMs and undertakes turnkey projects related to electrical infrastructure up to 33 KV, including installation, commissioning, and maintenance. Their operations extend to managing LED streetlight projects and maintenance of electrical divisions, notably in Odisha. ;
Parent Organisation
Akanksha Power and Infrastructure Limited
Founded
2008
Managing Director
Mr. Bipin Bihari Das Mohapatra

Strengths & Risks

  • Akanksha Power has benefitted from partnerships with international firms like TDK-Japan and MATRICA-Russia. This allows them to integrate advanced global technologies into their products.
  • Akanksha Power has received ISO 9001:2015 certification, reflecting high standards in manufacturing and supply of electrical equipment.
  • Their established relationships with suppliers ensure a reliable and timely supply of materials, crucial for maintaining product quality and meeting customer demands.
  • The company has built a stable and varied customer base, including significant work for government projects.
  • They offer a wide range of products and services, including customized solutions for different industry needs, showcasing their versatility in the electrical equipment sector.
  • The company's promoters are first-generation entrepreneurs. Their limited experience may impact the company's growth prospects.
  • Akanksha Power and Infrastructure is involved in legal proceedings, which, if resolved unfavorably, could result in liabilities and adversely affect business operations. These proceedings involve a disputed amount of Rs. 10,32,750/- in civil cases and Rs. 2,81,500/- in criminal cases.
  • The company does not own the property of its factory premises in Nashik, Maharashtra, which is under litigation. An unfavorable outcome could disrupt manufacturing operations.
  • The company has shown a downward trend in revenue Rs. 5183.70 lakhs in March 2022 to Rs. 4644.03 lakhs in March 2023, which, if continued, could adversely impact business operations and financial health.
  • The company has negative cash flow in the last 3 financial years. Sustained negative cash flow from operating and investing activities could impact the company’s growth and business prospects.
  • A significant portion of revenue comes from government tenders. Failure to secure these could adversely affect business operations.
  • Outstanding unsecured loans amounting to Rs. 543.28 lakhs may be recalled by lenders at any time, impacting financial stability.
  • The company has contingent liabilities which, if materialized, could adversely affect financial conditions.
  • The statutory auditor has emphasized concerns regarding the valid title deed of a factory premise, which could impact operations and financial position.
  • Akanksha Power and Infrastructure has faced penalties for non-compliance with provisions of the Employees' Provident Fund (EPF) Act and other applicable laws, including delays and errors in filings. Continued non-compliance or errors in regulatory filings could lead to further penalties and liabilities, negatively impacting the company's financial condition and operational results.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular52 - 55₹2 Lakh
High Networth Individual52 - 55₹2 - 5 Lakh
For Akanksha Power and Infrastructure IPO, eligible investors can apply as Regular.
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