Akanksha Power and Infra Set to Launch IPO on December 27

Nashik-based Akanksha Power and Infrastructure Ltd. (APIL) is gearing up for its inaugural Initial Public Offering (IPO), scheduled to open on December 27. The IPO comprises 4,998,000 equity shares, each valued at Rs. 10, and is priced in the range of Rs. 52 to Rs. 55 per share.

Established in 2008, APIL operates in the B2B sector, specializing in the manufacturing of electric equipment such as electrical panels, instrument transformers, and vacuum contactors. The company serves clients across institutions, industries, and electricity transmission and distribution utilities.

APIL operates two state-of-the-art manufacturing plants, emphasizing product quality and performance. Initially involved in capacitor trading from 2008 to 2010, procured from EPCOS India Private Limited (now TDK Electronics), the company has expanded its business scope. It now undertakes turnkey construction projects for High Tension and Low Tension electrical infrastructures, including substations, and has introduced new products such as Current Transformers, Potential Transformers, residual voltage transformers, vacuum contactors, and Advanced Metering Infrastructure.

The company's foray into greenfield LED streetlight projects and the provision of operation and maintenance services marks a significant stride towards effective control of technical and commercial losses. APIL's client roster boasts reputable names like Mahatransco, ABB, HAL, Oil India, Coal India, Sail, and Nalco.

In a strategic move to fund its recent initiatives, APIL is launching its IPO to raise capital. The IPO, managed by Narnolia Financial Services Ltd., comprises 4,998,000 equity shares at a price band of Rs. 52 to Rs. 55 per share. The company aims to raise Rs. 27.49 crore, with the subscription period open from December 27, 2023, to December 29, 2023.

The allocation of funds from the IPO includes Rs. 5.00 crore for capital expenditure, Rs. 15.00 crore for working capital, and the remainder for general corporate purposes. Link Intime India Pvt. Ltd. is the registrar of the issue, while Nikunj Stock Brokers Ltd. and SS Corporate Securities Ltd. serve as market makers. Following allotment, the shares will be listed on the NSE SME Emerge platform.

APIL's financial performance showcases steady growth, reporting a total revenue/net profit of Rs. 74.41 crore/Rs. 3.92 crore (FY21), Rs. 52.07 crore/Rs. 2.41 crore (FY22), and Rs. 46.44 crore/Rs. 2.91 crore (FY23). For Q1 of FY24, ending on June 30, 2023, the company recorded a net profit of Rs. 0.71 on a total revenue of Rs. 10.27 crore. The impending IPO is anticipated to propel APIL's trajectory further, promising innovative solutions in the realm of power and infrastructure.