Aakash Exploration Services IPO

Aakash Exploration Services IPOBusiness description - Established in 2007, Aakash Exploration Services provides services for Oil and Gas Exploration with a fundamental vision of being a leader in providing services to Oil and Gas Field while achieving international standard of excellence. It provides Mobile Work Over Rigs, Hot Oil Circulation Unit, Air Compressor, Mobile Steaming Unit (Boiler), Mobile Pumping Unit, Crane, Manpower Services, SRP Unit supply and Maintenance and other similar Services. The company is also a member of International Association of Drilling Contractors. It 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 and also providing similar services to private oil field operators namely ONGC, Hindustan Oil Exploration Company Limited, Cairn, Essar, OIL, etc to their extreme satisfaction. Aakash Exploration Services Limited is a national group of Oil and Gas Field Services with a staff of 433 employees and operating in more than 7 states of India.

Promoters of Aakash Exploration Services – Mr Vipul Navin Haria, Mr Hemang Navin Haria and Mr Krunal Pravin Haria
Aakash Exploration Services IPO details
Subscription Dates 17 - 19 April 2018
IPO Price band INR56 per share
Fresh issue 1,800,000 shares (INR10.08 crore)
Offer for sale Nil
Total IPO size  1,800,000 shares (INR10.08 crore)
Minimum bid (lot size) 2,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On NSE Emerge SME platform
Use of funds
  • Payment of Cash Credit Facilities - INR3.00 crore
  • Repayment of Unsecured Loans - INR2.00 crore
  • Working capital Requirements - INR2.08 crore
  • General Corporate Expenses - INR2.50 crore
  • Issue Expenses - INR0.50 crore
Aakash Exploration Services' financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 9M FY2018
Total revenue 9.45 13.90 23.45 25.63 33.80 31.26
Total expenses 9.22 13.10 21.94 24.92 32.13 30.10
Profit after tax 0.14 0.49 1.01 0.44 1.10 0.68
Aakash Exploration Services' Contact Details

Aakash Exploration Services Limited
424-426, 4th Floor, Shukan Mall
Nr. Visat Petrol Pump, Sabarmati
Ahmedabad - 380005

Phone: +91 79 4800 6633
Email: [email protected]
Website: www.aakashexploration.com

Aakash Exploration Services IPO Subscription Details
Day Subscription (no. of times)
Day 1 0.24
Day 2 0.71
Day 3 1.41
Aakash Exploration Services Valuation (Latest FY)

Earnings Per Share (EPS): INR2.22

Price/Earnings (P/E) ratio: 25.22

Return on Net Worth (RONW): 6.48%

Net Asset Value (NAV): INR34.28 per share

Registrar of Aakash Exploration Services IPO

Skyline Financial Services Pvt Ltd
A49, Gundecha Onclave, Kherani Road,
Sakinaka, Mumbai – 400 072
Maharashtra, India

Phone: +91 22 2851 1022
Email[email protected]
Website: www.skylinerta.com

Aakash Exploration Services IPO Allotment Status

Aakash Exploration Services IPO allotment status is now available on Skyline Financial Services' website. Click on this link to get allotment status.

Listing performance of Aakash Exploration Services

IPO Opening Date: 17 April 2018

IPO Closing Date: 19 April 2018

Finalisation of Basis of Allotment: 24 April 2018

Initiation of refunds: 25 April 2018

Transfer of shares to demat accounts: 26 April 2018

Listing Date: 27 April 2018

Listing Price on NSE SME: INR55.75 per share (down 0.45% from IPO price)

Closing Price on NSE SME: INR57 per share (up 1.78% from IPO price)

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