Aakash Exploration Services Ltd - IPO

Aakash Exploration Services Ltd IPO Details

Public issue of 18,00,000 equity shares of face value of Rs. 10/- each (equity shares) of Aakash Exploration Services Limited (The Company or The Issuer) for cash at a price Rs. 56/- per equity share (including a share premium of Rs. 46/- per equity share) (issue price) aggregating to Rs. 10.08 crores (the issue), of which 90,000 equity shares of face value of Rs. 10/- each for a cash price of Rs. 56/- per equity share, aggregating to Rs. 0.50 crores well be reserved for subscription by market maker (market maker reservation portion). The issue less the market maker reservation portion i.e. Issue of 17,10,000 equity shares of face value of Rs. 10/- each at an issue price of Rs. 56/- per equity share aggregating to Rs. 9.58 crores (the net issue). The issue and the net issue will constitute 26.67% and 25.33%, respectively of the post issue paid up equity share capital of the company.The Face value of the equity shares is Rs. 10/- each and the issue price of Rs. 56/-. The Issue price is 5.6 times of the face value.

Objective of issue

Payment of cash credit facilities. Repayment of unsecured loans. Working capital requirement. General corporate purpose.

Aakash Exploration Services Ltd Contact Details

Aakash Exploration Services Ltd, 4A9 Gundecha Onclave, Kherani Rd Sakinaka, , mumbai 400072

Phone - 91-022-62215779/28511022

Fax -

Email - hemang@aakashexploration.com

Website - www.aakashexploration.com