|
PNN
New Delhi [India], December 26: Nashik based Akanksha Power and Infrastructure Ltd. (APIL) Is engaged in the B2B business of manufacturing electric equipment, including electrical panels, instrument transformers, and vacuum contactors, catering to consumers from institutions, industries, and electricity transmission and distribution utilities. The Company has two (2) manufacturing plants, to manufacture the products with emphasis on quality and performance. Akanksha was founded in 2008 with a vision to provide sustainable and reliable power solutions to its customers; and from 2008 to 2010, the Company was engaged in the trading of Capacitors, which were procured from EPCOS India Private Limited, currently known as TDK Electronics. It has entered into a new sector of business that includes turnkey construction of High Tension and Low Tension electrical infrastructures including 33/11 KV substations, distribution substations and has also added new products like Current Transformer, Potential Transformer, and residual voltage transformer. Green field LED street light projects as well as operation and maintenance services. It also launched vacuum contactors, and is now set to launch Advanced Metering Infrastructure for effective control of technical and commercial losses. This new development considered to bring in revolutionary process that will benefit one and all. The Company presently has two (2) manufacturing plants situated at Plot No. 87/4, MIDC, Satpur, Nashik- 422007, Maharashtra, India, and F- 97, MIDC, Satpur, Nashik- 422007, Maharashtra, India. Its client list included Mahatransco, ABB, HAL, Oil India, Coal India, Sail, Nalco to name a few. To part finance its new initiatives, the company is coming out with its maiden Initial Public Offer (IPO) of 4998000 equity shares of Rs 10 each with a price band of Rs 52 - Rs 55 per share. The company plans to raise Rs 27.49 cr., at the upper cap of the price band. The issue opens for subscription on 27.12.23 and will close on 29.12.23. From the funds mobilized, it plans to spend Rs 5.00 cr. For capital expenditure, Rs 15.00 cr. 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. are the market makers. The shares will be listed on NSE SME Emerge platform post allotment. APIL Is engaged in the B2B business of manufacturing electric equipment, including electrical panels, instrument transformers, and vacuum contactors, catering to consumers from institutions, industries, and electricity transmission and distribution utilities. The company has reported a total revenue/net profit of Rs 74.41 cr. / Rs 3.92 cr. (FY21), Rs 52.07 cr. / Rs 2.41 cr. (FY22), and Rs 46.44 cr. / Rs 2.91 cr. (FY23). For Q1 of FY24 ended on June 30, 2023, it earned a net profit of Rs 0.71 on a total revenue of 10.27 cr. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
|
