Aakash Exploration Services Ltd

Aakash Exploration Services

About the Company:

Aakash Exploration Services Ltd (Established in 2007) is a company providing services for Oil and Gas Exploration with a fundamental vision of being a leader in providing services to Oil and Gas Field.

Company is an ISO 9001 14001 and OHSAS 18001 certified company.

They provide 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.

Company is providing Oil and Gas field Services to ONGC Ltd, 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

Aakash Exploration Services Ltd 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.

Company’s Major Clients:

major clients

Management Team:

  1. Mr. Vipul Navin Haria (Designation: Managing Director)
  2. Mr. Hemang Navin Haria (Designation: Executive Director and CFO)
  3. Mr. Krunal Pravin Haria (Designation: Executive Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Mr. Hemang Navin Haria 16,99,900 24.44
Mr. Vipul Navin Haria 25,39,900 20.03
Mr. Krunal Pravin Haria 5,49,900 22.24


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake
Mr. Hemang Navin Haria 34.34 25.18
Mr. Vipul Navin Haria 51.32 37.26
Mr. Krunal Pravin Haria 11.1 8.15
Promoter Group Entities              3.24           2.37
Total 100% 73.32%


Objectives of the Issue:

  • Payment of Cash Credit Facilities.
  • Repayment of Unsecured Loans.
  • Working Capital Requirement.
  • General Corporate Purpose.
  • Issue Expense.


Fund Utilization:

Particulars Amount (Rs. in Crores)
Payment of Cash Credit Facilities 3.0
Repayment of Unsecured Loans 2.0
Working capital Requirements 2.08
General Corporate Purpose 2.50
Issue Expenses 0.50
Net Proceeds 10.08 cr


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 31st Dec 17
Revenue 9.44   13.89  23.45 25.63  33.80  31.26
Net Profit  0.14  0.49  1.01 0.44   1.10  0.68


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Aakash Exploration Services Ltd 10 2.22 25.22 6.48% 34.28
Deep Industries Limited 10 24.66 7.84 19.57% 118.21
Selan Exploration Technology Ltd 10 5.28 42.99 3.07 172.08
South West Pinnacle
Exploration Limited
10 6.57 11.87 20.67% 31.80

Note: Keep an eye on South West Pinnacle Exploration Ltd in the days to come.


IPO Details:

Details Info
Issue Opens on 17th April 2018
Issue Closes on:. 19th April 2018
Issue Price Rs.56
Face Value Rs.10
Minimum Lot 2000
Minimum Investment Rs.1,12,000
Issue Constitutes 26.67%
Issue Size Rs.10.08 cr
Market Cap Rs.37.8 cr
Listing at NSE SME
Equity Shares Offered 18,00,000
Equity Shares Prior 49,50,000
Equity Shares after the issue 67,50,000


Important Dates:

Finalization of Basis of Allotment on or Before 24th April 2018
Initiation of Refunds on or Before 25th April 2018
Credit of Equity Shares: on or Before 26th April 2018
Listing Date: on or Before 27th April 2018


Subscription Details:

(Subscription-Category-Wise (no. of times) Till time : 06:00 PM) Shares Offered Day-1 Day-2 Day-3
HNI  8,55,000  0.47  1.09  1.59
Retail   8,55,000  0.03   0.4  1.38
Others     90,000  0.00  0.00  0.00
Employee  ———  —-  —-  —–
TOTAL  18,00,000  0.24 0.71   1.41


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
2.22 25.22 6.48% 34.28


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Subscribe Long Term 5%


Company Contact Info:
Aakash Exploration Services Ltd
424-426, 4th Floor,
Shukan Mall,Nr. Visat Petrol Pump,
Sabarmati, Ahmedabad, Gujarat 380005
Website: www.aakashexploration.com


IPO Registrar Info:
4A9, Gundecha Onclave, Kherani Road,
Sakinaka, Mumbai – 400072
Tel. No. – +91-22-28511022 / 62215779
Investor Email: grievances@skylinerta.com
Website: www.skylinerta.com


Lead Manager to the Issue:
Monarch House, Opp., Ishwar Bhuvan,
Commerce Six Road, Navrangpura,
Ahmedabad – 380014.
Tel. No. – 079 – 6600 0500/ 700
Investor Grievance Email: mbd@mnclgroup.com
Website: https://www.mnclgroup.com/