Promax Power Limited IPO (Promax Power Limited IPO) Detail

Sep 30, 2021 - Oct 4, 2021

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 -

  • Transmission Lines - projects in transmission lines including extra high tension & high tension transmission line & substation bays varying up to 220 KV.
  • Power Transmission & Distribution - complete electrification of high-rise buildings, industrial houses, hotels, multiplexes, and commercial complexes.
  • Substation - The company undertakes all types of electrical works like indoor and outdoor lighting, laying of cables, erection of transformers and switchyards up to 220 KV, erection of poles, installation of floodlights, etc. which also includes design and detailed engineering for EHV substations and transmission lines, etc.
  • Solar Projects EPC - High-quality services in the EPC space, from the initial design stage to the start-up of the installation, management, and implementation.
  • Sewerage Treatment Plant, and
  • Water Treatment Plant.

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

  • Stable company with experienced management.
  • Good relationship with customers.
  • Well-defined organizational structure.
  • Good relations with suppliers.
  • Quality & ISO Certifications.

Company Promoters:

Mr. Vishal Bhardwaj, and Mrs. Shweta Bhardwaj are the company promoters.

Company Financials:

Summary of financial Information (Restated Consolidated)
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)

Objects of the Issue:

The net proceed from the IPO will be utilized towards the following purposes;

  • Meet working capital requirements.
  • Meet issue expenses.
  • General corporate purposes.

Promax Power Limited IPO Details

IPO Opening Date Sep 30, 2021
IPO Closing Date Oct 4, 2021
Issue Type Fixed Price Issue IPO
Face Value ₹10 per equity share
IPO Price ₹10 per equity share
Market Lot 10000 Shares
Min Order Quantity 10000 Shares
Listing At BSE SME
Issue Size1,600,000 Eq Shares of ₹10
(aggregating up to ₹1.60 Cr)
Fresh Issue1,600,000 Eq Shares of ₹10
(aggregating up to ₹1.60 Cr)

Promax Power Limited IPO Tentative Timetable

The Promax Power Limited IPO open date is Sep 30, 2021, and the close date is Oct 4, 2021. The issue may list on Oct 12, 2021.

IPO Open Date Sep 30, 2021
IPO Close Date Oct 4, 2021
Basis of Allotment Date Oct 7, 2021
Initiation of Refunds Oct 8, 2021
Credit of Shares to Demat Account Oct 11, 2021
IPO Listing Date Oct 12, 2021

Promax Power Limited IPO Lot Size

The Promax Power Limited IPO market lot size is 10000 shares. A retail-individual investor can apply for up to 2 lots (20000 shares or ₹200,000).

Application Lots Shares Amount (Cut-off)
Minimum 1 10000 ₹100,000
Maximum 2 20000 ₹200,000

Promax Power Limited IPO Promoter Holding

Pre Issue Share Holding 99.99%
Post Issue Share Holding 73.33%

Promax Power Limited IPO Subscription Status (Bidding Detail)

The Promax Power Limited IPO is subscribed 6.89 times on Oct 4, 2021 05:45. The public issue subscribed 11.38 in the retail category, in the QIB category, and 2.39 in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)






Promax Power Limited IPO Prospectus

Promax Power Limited IPO Rating

Rating:Rated 3.9 stars
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Promax Power Limited IPO Listing Date

Listing Date Tuesday, October 12, 2021
BSE Script Code 543375
NSE Symbol
Listing In MT Group of Securities
IPO Price ₹10 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

IPO Price
Last Trade

Company Contact Information

Promax Power Limited
House No: 1575,
Ground Floor, Sector – 38B,
Chandigarh – 160038, Union Territory, India.
Phone: 0712-4003904

Promax Power Limited IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390

Promax Power Limited IPO Reviews / Ratings

Promax Power Limited IPO FAQs

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 equity share. The minimum order quantity is 10000 Shares.

The IPO opens on Sep 30, 2021, and closes on Oct 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Promax Power Limited IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Promax Power Limited IPO opens on Sep 30, 2021 and closes on Oct 4, 2021.

Promax Power Limited IPO lot size is 10000 Shares and the minimum order quantity is 10000 Shares.

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Promax Power Limited IPO will be done on Oct 7, 2021, and the allotted shares will be credited to your demat account by Oct 11, 2021. Check the Promax Power Limited IPO allotment status.

The Promax Power Limited IPO listing date is on Tuesday, October 12, 2021.

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