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Business News/ Markets / Ipo/  Akanksha Power and Infra IPO opens next week; price band set at 52-55 apiece

Akanksha Power and Infra IPO opens next week; price band set at ₹52-55 apiece

  • Akanksha Power and Infrastructure IPO is a book built issue of 27.49 crore. The issue is entirely a fresh issue of 49.98 lakh shares.

Akanksha Power and Infrastructure IPO is a book built issue of 27.49 crore.

Akanksha Power and Infrastructure IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) Akanksha Power and Infrastructure opens for subscription on Wednesday, on December 27, 2023 and closes on December 29, 2023. The public issue's price band is set at 52 to 55 per share.

The minimum lot size for an application is 2,000 shares, which means investors can bid for a minimum of 2,000 shares and in multiples thereof. The allocation to anchor investors for Akanksha Power and Infrastructure IPO is scheduled to take place Tuesday, December 26.

Also Read: Ola Electric IPO: Issue details, objectives, risk factors & more; Check 10 key things to know from DRHP

Akanksha Power and Infrastructure IPO has reserved not more than 50 per cent of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15 per cent for Non Institutional Investors (NII), and not less than 35 per cent of the offer is reserved for Retail Investors. The market maker portion consists of up to 260,000 equity shares.

Akanksha Power and Infrastructure Limited manufactures electrical equipment such as switchboards, transformers and vacuum contactors for institutions, industries and utilities.

The company's product portfolio includes manufacturing and supply of CT-PT, metering units, cubic automatic power correction panels (capacitor panels), fixed capacitor banks, motor control centre, among others.

Akanksha Power and Infrastructure IPO Details

Akanksha Power and Infrastructure IPO is a book built issue of 27.49 crore. The issue is entirely a fresh issue of 49.98 lakh shares. The company intends to use the net proceeds of the offering for the following goals: general corporate purposes and financing the company's working capital needs.

Akanksha Power and Infrastructure IPO will list on NSE SME with tentative listing date fixed as Wednesday, January 3, 2024. The promoter of the Company is Mr Bipin Bihari Das Mohapatra and Ms Chaitali Bipin Dasmohapatra.

Also Read: Kay Cee Energy & Infra Limited IPO opens next week, price band set at 51-54 apiece

Narnolia Financial Services Ltd is the book running lead manager of the Akanksha Power and Infrastructure IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Akanksha Power and Infrastructure IPO are Nikunj Stock Brokers and Ss Corporate Securities.

Akanksha Power and Infrastructure IPO GMP Today

Akanksha Power and Infrastructure IPO GMP or grey market premium is 15 This indicates Akanksha Power and Infrastructure share price were trading at a premium of 15 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Akanksha Power and Infrastructure share price is 70 apiece, which is 27.27 per cent higher than the IPO price of 55. 'Grey market premium' indicates investors' readiness to pay more than the issue price.

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ABOUT THE AUTHOR

Nikita Prasad

Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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