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:
Management Team:
- Mr. Vipul Navin Haria (Designation: Managing Director)
- Mr. Hemang Navin Haria (Designation: Executive Director and CFO)
- 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 |
|---|---|---|
| Promoters | ||
| 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: |
|---|
| SKYLINE FINANCIAL SERVICES PRIVATE LIMITED 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 NETWORTH CAPITAL LIMITED 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/ |
