Akruti Nirman Limited IPO (Akruti IPO) Detail

Jan 15, 2007 - Jan 19, 2007

Akruti Nirman Ltd. is a Mumbai based real estate development company. At present, Akruti's primary business is the development of commercial and residential properties. Their operations include the identification and acquisition of land and land development rights, and the planning, execution and marketing of real estate projects.

In commercial business line, they build, lease and sell commercial office space, including office towers and information technology parks, with a focus on properties attractive to the information technology, information technology enabled services ("ITES") and business processing outsourcing ("BPO") industries and large multinational companies.

In residential business line, they develop multi-unit residential apartment buildings with residences ranging from one bedroom flats to higher end, five bedroom residences.

In new retail business line, they are currently developing six shopping malls which contain space for retail units, food courts, banquet halls and restaurants, in which they intend to lease space to retailers upon their completion.

Objects of the Issue

The objects of the Issue are to:
1. Finance acquisition of lands / rights in lands and development rights;
2. Finance the construction and development costs for some of our projects under development;
3. Repay certain loans of the company;
4. Fund expenditures for general corporate purposes and achieve the benefits of listing on the Stock Exchanges.

Akruti IPO Details

IPO Date Jan 15, 2007 to Jan 19, 2007
Listing Date Wednesday, February 7, 2007
Face Value ₹10 per share
Price ₹475 to ₹540 per share
Lot Size 12 Shares
Issue Size6,700,000 shares of ₹10
(aggregating up to ₹361.80 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Akruti IPO Lot Size

The Akruti IPO lot size is 12 shares. A retail-individual investor can apply for up to 30 lots (360 shares or ₹194,400).

Application Lots Shares Amount
Retail (Min) 1 12 ₹6,480
Retail (Max) 30 360 ₹194,400
Company name has been changed to Ackruti City Limited.

Akruti IPO Subscription Status (Bidding Detail)

The Akruti IPO is subscribed 81.05 times on Jan 19, 2007 5:00:00 PM. The public issue subscribed 12.40 times in the retail category, 118.10 times in the QIB category, and 64.73 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Akruti IPO Prospectus

Akruti IPO Rating

Rating:Rated 3.9 stars
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Akruti IPO Listing Date

Listing Date Wednesday, February 7, 2007
BSE Script Code 532799
Listing In B1 Group of Securities
ISIN INE703H01016
IPO Price ₹540 per share
Face Value ₹10 per share

Listing Day Trading Information

IPO Price
Last Trade

Company Contact Information

Akruti Nirman Limited
Akruti Trade Centre,
Road No. 7, Marol MIDC,
Andheri (East), Mumbai 400 093, India
Phone: + 91 22 6703 7427

Akruti IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Akruti IPO Review

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Akruti IPO FAQs

Akruti IPO is a main-board IPO of 6,700,000 equity shares of the face value of ₹10 aggregating up to ₹361.80 Crores. The issue is priced at ₹475 to ₹540 per share. The minimum order quantity is 12 Shares.

The IPO opens on Jan 15, 2007, and closes on Jan 19, 2007.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Akruti IPO opens on Jan 15, 2007 and closes on Jan 19, 2007.

Akruti IPO lot size is 12 Shares and the minimum order quantity is .

You can apply in Akruti IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Akruti IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Akruti IPO allotment status.

The Akruti IPO listing date is on Wednesday, February 7, 2007.
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Akruti IPO Message Board

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110. JAI |   Link |Feb 18, 2007 2:45:03 AM
i have bought 500 of this share at 545,can i hold or sell
109. Raja Vijayaraghavan |   Link |Feb 17, 2007 4:57:23 AM
Get this stock at lower rate now. sure it would give good returns! wait for 6 months for the stock to rebound to its issue price and there is not stoping after dat!!!
108. manish |   Link |Feb 16, 2007 10:13:23 AM
i bought akruti @ 619.00 * 1000 share =619000 because of good infra got order of 50000 crores to be completed in next three yrs.high demand from property mkt could continue over decades.only concern is that in current mkt scnerio lower middle class cant think of buying property due to high cost & demand from upper middle class will not continue because of higher interest rate (may touch 14% in next 2yrs).
107. manish |   Link |Feb 16, 2007 10:04:17 AM
for refund ...check allot status in detail on intimespectrum website or contcact intme for refund either direct credit/ecs/through cheque
106. Sagar |   Link |Feb 14, 2007 5:25:43 AM
Naren - Hold on to this stock, its a good bet for medium to long term. The stock will bounce back once the markets are stable. You can average on dips.
105. Srinivasarao |   Link |Feb 13, 2007 4:51:08 AM
Still now i didn't get the refund money of akruti nirman ipos.any body let me know how can i get ??
104. yogendra |   Link |Feb 13, 2007 4:38:58 AM
I have not received refund amount of Akruti Construction and GBN yet. How I can get refund
103. naren |   Link |Feb 13, 2007 4:17:56 AM
i bought 65 shares of Akruti at Rs. 680 on first day of listig. But it is at Rs. 455 to-day. What should I do.
Should I exit or wait.
The entire sector of infra is going down.
102. Sagar |   Link |Feb 13, 2007 2:53:02 AM
Now you can buy it below the lower band of the IPO, currently at 450, don't know when this freefall will end for the construction stocks. Its good that I didn't get the allotment, I'll wait for it to come down further.
101. Shoel |   Link |Feb 13, 2007 2:31:03 AM
its fallen to 480...
Just above the lower end of IPO rate
am i glad i didnt get allocations or what!
100. Athar |   Link |Feb 10, 2007 2:51:49 PM
and why do u think so ..... as akruti is crating new low every day ......@ K.K.Bindal
99. K.K.Bindal |   Link |Feb 10, 2007 1:50:05 AM
Akruti Prise will go upper then Rs. 1250, according to my knowledge.
98. sankar |   Link |Feb 9, 2007 5:14:25 AM

I also use icicidirect for trading. it is a fact that immediately after allocation we do not see the stock code against allocation; but on the date of listing before the market starts the code appears and we can first allocate the no. of shares to be sold and later trade when the market opens.
97. Sagar |   Link |Feb 9, 2007 12:20:09 AM
Its really strange that most of the ICICI Direct customers are not getting refund through ECS but are getting refund orders in physical format delivered to their addressess. This is sheer wastage of time. Besides that the stock is now available close to its IPO price, it was a waste to apply to this IPO.
96. raja |   Link |Feb 8, 2007 9:12:50 PM
I have been alloted 12 shares. I had applied for 48 shares, but I have not yet received by refudn amount. My account is with icici direct & icici bank. Who should I complain to? Anybody has SEBI address.
95. ramkrishna nanda |   Link |Feb 8, 2007 7:41:25 PM
I had applied for 24 shares.But I am unable to find my IPO allocation status.Pz inform me.
94. ramkrishna nanda |   Link |Feb 8, 2007 7:39:36 PM
I had applied for 24 shares.But I am unable to find my IPO allocation status.Pz infomrm me.
93. Athar |   Link |Feb 8, 2007 10:17:25 AM
i have got 12 shares of Akruti ..... but as i was not able to sell it today this evening i found that it almost touched its isshue price .... Now should i keep on holding it or sell then what ever price i am getting ...........
92. tanmay |   Link |Feb 8, 2007 6:55:02 AM
This morning I got an allocation of 12 Akruti shares in ICICI direct. However, I just could not put them up for sale since the system was prompting that the scrip is notb listed in any of the exchanges. Now I have returned from office and seeing that though the scrip opened strong, now it is at its cut off price. I could not sell them at the oppurtune moment now, I have to wait till the scrip rises. Anyone using ICICI direct please tell me if it is possible for putting a scrip up for sale on the listing day?? Thanks
91. nitin |   Link |Feb 8, 2007 5:00:08 AM
i have not received the refund order yet,any one has received?