Akanksha Power and Infra IPO opens: Check lot size, allotment date, other details

Akanksha Power and Infra IPO: Akanksha Power and Infra IPO is now open for subscription. The Nashik-based company is engaged in the B2B business of manufacturing electric equipment, including electrical panels, instrument transformers, and vacuum contactors. The subscription window will open for three days and end on December 29.

Akanksha Power and Infra IPO Price Band

This is the company's maiden IPO consisting of 49,98,000 equity shares with a price band of Rs 52 – Rs 55 per share. The face value of each share is Rs10 each. 

The minimum lot size for an application is 2,000 shares. It will cost Rs 1,10,000. For the high-net-worth individual (HNI) quota, the minimum lot size for investment is two which will have 4,000 shares. It will cost Rs 2,20,000.

Akanksha Power and Infra IPO Allotment Date

Akanksha Power IPO allotment is expected to be finalised on January 1, 2024. Once done, details will be available made available on the official website of the registrar. Link Intime India Private Ltd is the official registrar of the public issue. 

Akanksha Power and Infra Share Listing Date

The equity shares of Akanksha Power and Infra are expected to be listed on January 3.

The company plans to raise Rs 27.49 crore at the upper cap of the price band. From the funds mobilized, it plans to spend Rs 5 crore for capital expenditure, Rs 15 crore for working capital and the balance for general corporate purposes. 

The issue is lead managed by Narnolia Financial Services Ltd. Link Intime India Pvt. Ltd. Is the registrar of the issue. Nikunj Stock Brokers Ltd. And SS Corporate Securities Ltd.