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

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.  

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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.

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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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Published: 22 Dec 2023, 10:35 PM IST