IPO for SMEs: Acai India aims to raise Rs 32.13 crore, with shares priced between Rs 80 and Rs 85

IPO for SMEs: Acai India aims to raise Rs 32.13 crore, with shares priced between Rs 80 and Rs 85

IPO for SMEs: Acai India aims to raise Rs 32.13 crore, with shares priced between Rs 80 and Rs 85

According to people close to Moneycontrol, Acai India would offer fresh equity shares valued at Rs 37.8 lakh within the price range of Rs 80 to Rs 85.

SME IPO: AKAI is a 1929-founded Japanese brand of consumer electronics and white goods firm.

The parent company of Acai India, Home Tech Digital Ltd, has submitted an application to SEBI for a draft red herring prospectus (DRHP) in order to acquire capital via an initial public offering (IPO). The business would issue additional equity shares totaling Rs 37.8 lakh at a price range of Rs 80 to Rs 85, according to sources who spoke with Moneycontrol. With the highest price range, the business would bring in Rs 32.13 crore.

AKAI is a Japanese brand corporation founded in 1929 that specializes in white goods and consumer electronics. In 2016, the firm obtained the designing rights by entering into a trademark licensee agreement with Phenomenon Agents Limited, the brand owner of AKAI. Production, marketing, sales, and customer support for AKAI goods in India.

Smart QLED and LED TVs with Google OS, air conditioners, fully automated washing machines, home theater systems, sound bars, and tower speakers are among the company's current product offerings.

The company's promoters are Anurag and Anil Sharma. Anil Sharma owns 30.81 percent of the firm, while Anurag Sharma owns 42.58 percent. Rahul Mehta owns 0.14 percent of the business.

Beeline Capital Advisors will be the principal manager for book running. To cover its working capital needs, the firm is seeking money. Over fifteen thousand TVs (in the Google range) have been ordered by the corporation; five thousand of them have been delivered. The additional cash inflow will support the company's working capital requirements as well as the execution of the same orders.

Revenue was recorded as Rs 65.89 crore for the six months ending in September 2023 and Rs 120.94 crore for the month of March 2023. PAT was reported at Rs 1.07 crore for the September six-month period and Rs 2.28 crore for March 2023. There was Rs 30.51 crore in total borrowed. The ratio of total debt to equity is 1.73. From Rs 1.12 crore in March 2023 to Rs 2.28 crore in March 2022, PAT climbed by 104%.

It is anticipated that the gross margin would increase by 3 to 5 percent with the injection of additional capital. Rising consumption in India and the China+1 narrative are projected to help the firm, according to DRHP.