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Aakarshit Ice & Cold Storage IPO – Allotment, Subscription, GMP & DRHP

Aakarshit Ice And Cold Storage Limited  are engaged in the business of cold storage and trading of agricultural commodities such as potatoes, carrot, Mahua, jiggery, etc. Aakarshit Ice & Cold Storage IPO comprises  of  25,00,000 Equity Shares  of face value of Rs. 10 each.

Let’s have a detailed review of the company and analytics of the Aakarshit Ice & Cold Storage IPO release date, IPO offer price, subscription, Aakarshit Ice & Cold Storage IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Aakarshit Ice & Cold Storage IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Aakarshit Ice And Cold Storage Limited IPO

 Aakarshit Ice & Cold Storage IPOAakarshit Ice And Cold Storage Limited are engaged in the business of cold storage and trading of agricultural commodities such as potatoes, carrot, Mahua, jiggery, etc. The Company had set up and made operational  their cold storage unit on Indore Pithampur Bypass at Survey No. 54/5, Sonway Village, Tehsil – Mhow, District Indore, Madhya Pradesh in the year 1996-97. Initially the company built 12000 MTs. capacity which was eventually increased to 22100 MTs .The Issue comprises up to 25,00,000 Equity Shares of face value Rs.10 each where price is yet to be disclosed.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

  • For the Financial Years 2016, 2017 and 2018, the Revenue fron operations was Rs.2,545.56  million, Rs.2,516.14 million and Rs. 1,812.80 million, respectively  Total income and profit after tax was  Rs. 123.72, Rs. 67.78 and Rs.53.67  for the Financial Years 2018, 2017 and 2016 respectively 
  • As of March 31, 2018, the Company’s net worth was Rs.2,275.32 million as per the Restated Financial Information .
  • The profit before tax For the Financial Years 2018, 2017 and 2016 was Rs. 157.86 million, Rs. 95.88 million and Rs. 77.59 million, respectively.

The Promoters of this company are  Mr. Mangal Sain Madaan and Mr. Aakarshit Madaan. The lead manager to the issue are Mark Corporate Advisors Private Limited and the Registrar to this issue is Bigshare Services Private Limited .


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Aakarshit Ice & Cold Storage IPO Date

The opening and the closing date of Aakarshit Ice And Cold Storage Limited  IPO is not known yet.


Aakarshit Ice & Cold Storage IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Aakarshit Ice & Cold Storage IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Aakarshit Ice & Cold Storage IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Aakarshit Ice & Cold Storage IPO Equity Share Offering

Up to 25,00,000 Equity Shares issued at a face value of Rs.10 where price is yet to be disclosed.


Aakarshit Ice And Cold Storage Limited – Company Overview

 Aakarshit Ice And Cold Storage Limited  are engaged in the business of cold storage and trading of agricultural commodities such as potatoes, carrot, Mahua, jiggery, etc. The Company had set up and made operational  their cold storage unit on Indore Pithampur Bypass at Survey No. 54/5, Sonway Village, Tehsil – Mhow, District Indore, Madhya Pradesh in the year 1996-97. Initially the company built 12000 MTs. capacity which was eventually increased to 22100 MTs .

The Company believe that the need for setting up and construction of cold storage facilities is highly required for the preservation of agro commodities and the same shall be equally beneficial to both producers and consumers and shall there by strengthen the rural economy of perishable commodities. Their project envisages perfect backward and forward linkage of marketing activities as an essential pre-condition. Further, it has become a practice to provide necessary finance to hirers of the cold storage against their stocks stored in the cold storage in order to keep the price steady and allow the support price to the farmers .

The Company is promoted by  and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Aakarshit Ice And Cold Storage Limited :

  • Highly experienced Promoter backed by professional management team
  • Locational Advantage
  • Favourable Government Policies for our sector
  • Relations with our Bankers and strong financial management

Business strategies of Aakarshit Ice And Cold Storage Limited :

  • Leverage our financial management in line with trends in Cold Storage Industry
  • Advantages of our experience and technology
  • Explore other avenues of revenue generation giving synergies with the existing business plan
  • Regular Expansion of capacities to meet growing demand

Aakarshit Ice And Cold Storage Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

On the basis of  financial statement:-

Amount (in INR & Million)
31-Mar-1831-Mar-17
Total Assets2,275.322,211.55
Total Revenue2,546.522,517.35
Total Expense2,388.672,421.47
Profit After Tax123.7267.78

Earnings per Equity Share (in Millions)

31-Mar-1831-Mar-17
Basic & Diluted12.256.71

From the above statements, one could find that the Aakarshit Ice And Cold Storage Limited may perform well.


Aakarshit Ice & Cold Storage IPO – Promoters

The Promoters of this company are:

  1. Mr. Mangal Sain Madaan
  2. Mr. Aakarshit Madaan.

List of Related Parties (Key Managerial Personnel)

  • Mr. Santosh Binake
  • Ms. Ruchi Barche

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Aakarshit Ice & Cold Storage IPO Offer Details or Issue Details

Offer for Sale25,00,000 Equity Shares of face value of Rs.10 each fully paid of the Company for cash at price of Rs.[•] per Equity Share aggregating Rs.[•]
Of which:
Issue reserved Maker1,40,000 Equity Shares of face value of Rs.10 each fully paid of the Company for cash at price of Rs. [•] per Equity Share aggregating Rs.[•]
Of which:
Net Issue to Public23,60,000 Equity Shares of face value of Rs.10 each at a price of Rs.[•] per Equity Share 
Of which:
11,80,000 Equity Shares of face value of Rs.10 each at a price of Rs.
per Equity Share to the Retail Portion
Non-Institutional Category
Retail Category11,80,000 Equity Shares of face value of Rs.10 each at a price of Rs. per Equity Share to the Retail Portion
Equity Shares outstanding prior to the offer30,29,850 Equity Shares
Equity Shares outstanding after the Offer55,29,850 Equity Shares

Aakarshit Ice & Cold Storage IPO Issue Object

These are the IPO Issue Objects of the company-

  • To meet the Working Capital Requirements
  •  General Corporate Purposes

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Aakarshit Ice & Cold Storage IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Track Record of the Company
  • Stringent quality control
  • Leveraging the experience of our Promoters
  • Experienced management team and a motivated and efficient work force
  • Scalable Business Model

The relevant quantitative factors are:

On the basis of Standalone statement:-

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-175.3122.2954.95
31-Mar-186.7120.46
  • Industry P/E Ratio:
ParticularsP/E ratio
Average98.88
Highest118.57
Lowest79.18
  • Competitive Peers:
ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E Ratio
Karnimata Cold Storage Limited100.6513.84

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Aakarshit Ice & Cold Storage IPO Lead Managers

Lead Managers
MARK CORPORATE ADVISORS PRIVATE LIMITED
CIN: U67190MH2008PTC181996
404/1, The Summit Business Bay,
Sant Janabai Road (Service Lane), Off W. E. Highway,
Vile Parle (East), Mumbai-400 057.
Contact Person: Mr. Manish Gaur
Tel. No.: +91 22 2612 3207/08
E-Mail ID:
SEBI Regn No.: INM000012128
Investor Grievance E-Mail ID:

 

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED
CIN: U99999MH1994PTC076534 1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis, Makhwana Road,
Marol, Andheri (E), Mumbai-400 059.
Contact Person: Mr. Ashok S Shetty
Tel No.: +91 22 2847 0652/4043 0200
E-Mail ID:
SEBI Regn No.: INR000001385

Other Details:

  • Statutory Auditor –  M/s P.K. Shishodiya & Co., Chartered Accountants
  • Peer Review Auditor –  M/s P.K. Shishodiya & Co., Chartered Accountants
  • Bankers to the Company – Punjab National Bank

Aakarshit Ice & Cold Storage IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Aakarshit Ice & Cold Storage IPO Grey Market Premium

The Aakarshit Ice & Cold Storage IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Aakarshit Ice & Cold Storage IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)


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