Aakash Exploration Services Limited IPO

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Aakash Exploration Services Limited IPO

AESPL is providing Oil and Gas field Services to M/S Oil & Natural Gas Corporation Ltd (A Govt. of India Company), Ahmedabad, Mehsana and Hazira Projects since last 25 years and also providing similar services to private oil field operators namely GSPCL, Cairn, Essar, Great Eastern Energy, IOC, Niko, OIL, Price Petroleum etc to their extreme satisfaction. Aakash Exploration Services Private Limited is a national group of Oil and Gas Field Services with a staff of more than 250 employees and operating in more than 7 states of India. Our innovative approach along with supreme manpower ensures that we are ready to help tackle up the challenges of the new Oil and Gas field arena.
The Company is providing Mobile Workover rigs, Hot Oil Circulation unit, Air Compressor, Mobile Steaming unit, Mobile Pumping unit, crane, manpower services, SRP unit supply and Maintenance and other similar services.
The vision of Aakash Exploration is :
1. To be a leader in providing services to Oil and Gas Field while achieving an international standard of excellence.
2. To achieve good financial result along with business ethics and keeping in mind our organizational values.
3. To strengthen brand image and corporate identity
4. To be a socially responsible company

Aakash Exploration Services Limited IPO Stock Quote & Charts

85.45

+1.97%

Check History
  • Open: 86.00
  • High - Low: 87.80 - 85.00
  • Previous Close: 83.80
  • Total Traded Volume: 68000
  • Updated On: 24-Dec-2019

Objects of the Aakash Exploration Services Limited IPO:

Objective of

Aakash Exploration Services Limited IPO

are: 1. Payment of Cash Credit Facilities 2. Repayment of Unsecured Loan 3. Working Capital Requirement 4. General Corporate Purpose 5. Issue Expense
DRHP of Aakash Exploration Services Limited IPO

Aakash Exploration Services Limited IPO Details:

Open Date: Apr 17 2018
Close Date: Apr 19 2018
Total Shares: 18,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 10.08 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 56 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 27 2018

Promoters And Management:

Promoters of Aakash Exploration Services Limited Company are: Mr. Vipul Navin Haria Mr. Hemang Navin Haria Mr. Krunal Pravin Haria

Capital Structure:

(i) Authorized Share Capital ( 70,00,000 shares at FV@10) 7 Cr
(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue (49,50,000 Shares at FV@10) 4.950 Cr
(iii) Present Issue (18,00,000 Shares at FV@10) 1.8 Cr
(iv) Reservation for Market Maker (90,000 Shares at FV@10) 9 lacs
(v) Net Issue to Public (18,00,000-90,000 = 17,10,000Shares) 1.710 cr
(vi) QIB & HNI Quota-8,55,000 Shares 50%
(vii) Retail Quota - 8,55,000 Shares 50%
(viii) Paid Up Share Capital after the issue 6.750 Cr

Financials of Aakash Exploration Services Limited IPO:

1. Balance Sheet Snippet[ Financials as on Sept 2017]
       (i) Shareholders’ Fund[Equity] Value 1759.54 Lacs
      (ii) Asset 3860.71 Lacs
      (iii) Liability 2101.17 Lacs
      (iv) Debt/Equity[<1 ideal] 1.19(reasonable)
      (v)  Net Worth(Asset- Liability) 1759.54 Lacs
     (vi)  RONW(PAT/Net Worth) 3.6%
     (vii) P/B[<5 ideal] 1.6( reasonable)
2.  Profit n Loss Snippet
     (i) The Revenue of the company in last 4 years is growing at CAGR of 38.94%(Excellent).
    (ii) The PAT of the company is last 4 years is growing at CAGR of 67.42%(Excellent)
    (iii) The company has excellent EBITDA margin in last 5 years.
    (v) Annualized EPS(post issue)=  1.851
    (v)  Annualized P/E(post issue)=30 (aggressively priced )at the cutoff price of 56
3. Cash Flow Statement(all figures in Lacs)
Particulars FY17 FY16 FY15 FY14 FY13
(i) Net Cash Generated from Operation 506.72 548.44 424.09 -180.46 83.12
(ii) Net Cash Generated from Investment -590.88 -775.14 -945.06 -146.04 -324.92
(iii) Net Cash Generated from Financing Activity -28.61 585.13 553.54 303.78 256.1
(iv) Total[ (i)+(ii)+(iii) ] -112.77 358.43 32.57 -22.72 14.3
(v) Cash and Cash Equivalents at the Beginning of the Year 416.74 58.31 25.73 48.43 34.13
(vi) Cash and Cash Equivalents at the end of the Year 303.97 416.74 58.3 25.71 48.43
 

Comparison With Peers:

Name of the Company FV EPS PE RONW
Aakash Exploration Service limited 10 1.851 30 6.48%
Deep Industries Limited 10 24.66 7.84 19.57%
Selan Exploration Technology Ltd 10 5.28 42.99 3.07%
South West Pinnacle 10 6.57 11.87 20.67%

Recommendation on Aakash Exploration Services Limited IPO:

Review and Recommendation of

Aakash Exploration Services Limited IPO

from our side is:
Rating: 4/10. 1-5: Fair 5-7: Good 7-10: Excellent

Lead Manager of Aakash Exploration Services Limited IPO:

  1. Monarch Networth Capital Limited

Registrar of Aakash Exploration Services Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Aakash Exploration Services Limited 424, 4th Floor, Shukan Mall, B/h Visat Petrol Pump, Sabarmati, Ahmedabad - 380005 Gujarat Phone No.  91 79 48006633 Fax : + 91 79 27573366 E-mail: info@aakashexploration.com

Bid Details of Aakash Exploration Services Limited IPO as on
19-Apr-2018 17:00:00 IST

Category No.of shares offered No. of shares bid
900,000 1,360,000
900,000 1,178,000
- -
1,800,000 2,538,000
QIBs No
QIBs+HNIs Subscription 1.51X
Retail Subscription 1.31X
Total Subscription 1.41X

Discussion on Aakash Exploration Services Limited IPO:

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