The Aakash Exploration date has been confirmed from April 17, 2018 and ended on April 19, 2018.
Aakash Exploration Developers IPO is a fixed price issue of Rs 10.08 crores. The price is ₹56 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹112,000.
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Bidding Dates
April 17-19
Price Range
₹56 per share
Face Value
₹10 per share
GMP
₹11.00
Aakash Exploration IPO GMP
The Aakash Exploration IPO GMP is ₹11.00.
IPO Overview
The Aakash Exploration IPO is a fixed-price offering worth Rs 10.08 crores. Bidding for the Aakash Exploration IPO began on April 17, 2018 and closed on April 19, 2018. On Tuesday, April 24, 2018, the allotment for the Aakash Exploration IPO was completed. On April 27, 2018, the shares were listed on the NSE SME. The IPO price for Aakash Exploration is 56 per share.
A lot size of 2000 shares is required for an application. Retail investors are obliged to make a minimum investment of 112,000. Aakash Exploration Services Limited is a national oil and gas field services company with over 250 workers and operations in seven Indian states.
Aakash Exploration IPO Details
| IPO Date | April 17, 2018 to April 19, 2018 |
| Listing Date | April 27, 2018 |
| Face Value | ₹10 per share |
| Price | ₹56 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 1,800,000 shares (aggregating up to ₹10.08 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 90,000 shares |
Aakash Exploration Company Financials
| Particulars | For the year/period ended (in Rs. Lacs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 3,382.38 | 3,131.06 | 2,549.24 | 1,393.22 | 1,056.70 | |
| Total Revenue | 3,380.30 | 2,563.31 | 2,345.20 | 1,389.54 | 944.65 | |
| Profit After Tax | 110.02 | 44.32 | 101.44 | 49.38 | 14.40 | |
Aakash Exploration IPO Timeline
| IPO Open Date | Tuesday, April 17, 2018 |
| IPO Close Date | Thursday, April 19, 2018 |
| Basis of Allotment | Tuesday, April 24, 2018 |
| Initiation of Refunds | Wednesday, April 25, 2018 |
| Credit of Shares to Demat | Thursday, April 26, 2018 |
| Listing Date | Friday, April 27, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 19, 2018 |
Company Profile
Aakash Exploration Services Limited, based in Gujarat, was founded in 2007 to provide oil and gas exploration services. The company has ISO 9001, 14001, and OHSAS 18001 certifications. It offers Mobile Work Over Rigs, Hot Oil Circulation Units, Air Compressors, Mobile Steaming Units (Boilers), Mobile Pumping Units, Cranes, Manpower Services, SRP Unit Supply and Maintenance, and other related services. Aakash Exploration provides Oil and Gas field Services to M/S Oil & Natural Gas Corporation Ltd (A Govt. of India Company), Ahmedabad,
Mehsana, and Hazira Projects, as well as similar services to private oil field operators such as GSPCL, Cairn, Essar, Great Eastern Energy, IOC, Niko, OIL, Price Petroleum, and others.
Registrar Info
| Name | Skyline Financial Services Private Ltd |
| Phone number | 02228511022 |
| Email ID | virenr@skylinerta.com |
| Website | skylinerta.com |
Contact Details
| Name | Aakash Exploration Services Limited |
| Phone number | +91 79-48006633/ 65423366 |
| Email ID | hemang@aakashexploration.com |
| Website | aakashexploration.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
