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Promax Power Limited IPO is a fixed price issue of Rs 1.60 crores. The issue is entirely a fresh issue of 16 lakh shares.
Promax Power Limited IPO bidding started from September 30, 2021 and ended on October 4, 2021. The allotment for Promax Power Limited IPO was finalized on Thursday, October 7, 2021. The shares got listed on BSE SME on October 12, 2021.
Promax Power Limited IPO price is ₹10 per share. The minimum lot size for an application is 10000 Shares. The minimum amount of investment required by retail investors is ₹100,000.
Finshore Management Services Limited is the book running lead manager of the Promax Power Limited IPO, while Cameo Corporate Services Limited is the registrar for the issue.
Refer to Promax Power Limited IPO RHP for detailed information.
| IPO Date | September 30, 2021 to October 4, 2021 |
| Listing Date | October 12, 2021 |
| Face Value | ₹10 per share |
| Price | ₹10 per share |
| Lot Size | 10000 Shares |
| Total Issue Size | 1,600,000 shares (aggregating up to ₹1.60 Cr) |
| Fresh Issue | 1,600,000 shares (aggregating up to ₹1.60 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Market Maker portion | 80,000 shares |
Promax Power Limited IPO offers 1,600,000 shares. 760,000 (47.50%) to NII, 760,000 (47.50%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 80,000 (5.00%) |
| Other Shares Offered | 760,000 (47.50%) |
| Retail Shares Offered | 760,000 (47.50%) |
| Total Shares Offered | 1,600,000 (100%) |
Promax Power Limited IPO opens on September 30, 2021, and closes on October 4, 2021.
| IPO Open Date | Thursday, September 30, 2021 |
| IPO Close Date | Monday, October 4, 2021 |
| Basis of Allotment | Thursday, October 7, 2021 |
| Initiation of Refunds | Friday, October 8, 2021 |
| Credit of Shares to Demat | Monday, October 11, 2021 |
| Listing Date | Tuesday, October 12, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 4, 2021 |
Investors can bid for a minimum of 10000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 10000 | ₹100,000 |
| Retail (Max) | 2 | 20000 | ₹200,000 |
| Lot Size Calculator | |||
Mr. Vishal Bhardwaj, and Mrs. Shweta Bhardwaj are the company promoters.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 73.33% |
Incorporated in 2017, Promax Power Limited is an ISO 14001:2015 and ISO 45001:2018 certified organization, engaged in the business of engineering procurement construction for electrification, civil infrastructure, and water infrastructure management projects. The company's business segments can be divided into -
The company has a highly experienced and diverse set of professionally trained and qualified engineers capable of handling all requirements and installations, even at the highest scale and magnitude
.
Competitive strengths
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 204.30 | 206.64 | 0.14 | ||
| Total Revenue | 368.89 | 77.63 | NA | ||
| Profit After Tax | 1.7839 | 3.1147 | (0.0001) | ||
The net proceed from the IPO will be utilized towards the following purposes;
[Dilip Davda] The company has posted a lacklustre performance for FY20 and FY21. It posted a lower net on higher turnover for FY21. Based on FY21 earnings, though the issue is at par, it.is at a very high P/E. Hence risk seeker/cash surplus investors may consider parking of funds with a long term perspective. Read detail review...
The Promax Power Limited IPO is subscribed 6.89 times on October 4, 2021 5:45:00 AM. The public issue subscribed 11.38 times in the retail category, times in the QIB category, and 2.39 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.39 |
| Retail | 11.38 |
| Total | 6.89 |
| Listing Date | October 12, 2021 |
| BSE Script Code | 543375 |
| NSE Symbol | |
| ISIN | INE0I2F01015 |
| Final Issue Price | ₹10 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹10.00 |
| ₹11.00 |
| ₹11.00 |
| ₹11.55 |
| ₹11.55 |
Promax Power Limited
House No: 1575,
Ground Floor, Sector – 38B,
Chandigarh – 160038, Union Territory, India.
Phone: 0712-4003904
Email: cs@promax.co.in
Website: https://www.promax.co.in/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
SME Company Owners
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Promax Power Limited IPO is a SME IPO of 1,600,000 equity shares of the face value of ₹10 aggregating up to ₹1.60 Crores. The issue is priced at ₹10 per share. The minimum order quantity is 10000 Shares.
The IPO opens on September 30, 2021, and closes on October 4, 2021.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Promax Power Limited IPO using UPI as a payment gateway. Zerodha customers can apply in Promax Power Limited IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Promax Power Limited IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Promax Power Limited IPO opens on September 30, 2021 and closes on October 4, 2021.
Promax Power Limited IPO lot size is 10000 Shares, and the minimum amount required is ₹100,000.
You can apply in Promax Power Limited 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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Promax Power Limited IPO will be done on Thursday, October 7, 2021, and the allotted shares will be credited to your demat account by Monday, October 11, 2021. Check the Promax Power Limited IPO allotment status.
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