Nashik-based Akanksha Power and Infrastructure Ltd (APIL) will open its initial public offering (IPO) Wedbnesday (December 27). The company operates in the B2B manufacturing sector, producing electrical equipment such as electrical panels, instrument transformers, and vacuum contactors. These products cater to clients in various sectors, including institutions, industries, and electricity transmission and distribution utilities.
Established in 2008, APIL initially traded capacitors sourced from EPCOS India Private Limited, now known as TDK Electronics, before venturing into manufacturing.
Expanding its portfolio, the company diversified its business activities to encompass the turnkey construction of high and low-tension electrical infrastructure. This expansion also included the introduction of new products like current transformers, potential transformers, and residual voltage transformers. Additionally, APIL ventured into green field LED street light projects and operation and maintenance services. It recently launched vacuum contactors and plans to introduce advanced metering infrastructure, aiming to enhance control over technical and commercial losses.
To fund its new endeavours, the company is launching its inaugural Initial Public Offer (IPO) of 4,998,000 equity shares at Rs 10 each, within a price band of Rs 52– Rs 55 per share. Anticipating a fundraise of Rs 27.49 crore at the upper end of the price band, the IPO subscription opens on December 27 and closes on December 29. The company intends to allocate Rs 5 crore for capital expenditure, Rs 15 crore for working capital, and the remaining funds for general corporate purposes.
Narnolia Financial Services Ltd. leads the issue, with Link Intime India Pvt Ltd as the registrar. Market makers for the offering include Nikunj Stock Brokers Ltd. and SS Corporate Securities Ltd. Post-allotment, the shares will be listed on the NSE SME Emerge platform.

(With PTI inputs)

APIL is betting big on advanced metering infrastructure to bring down losses.

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