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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 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

Promax Power Limited IPO Date Sep 30, 2021 to Oct 4, 2021
Promax Power Limited IPO Face Value ₹10 per share
Promax Power Limited IPO Price ₹10 per share
Promax Power Limited IPO Lot Size 10000 Shares
Issue Size1,600,000 shares of ₹10
(aggregating up to ₹1.60 Cr)
Fresh Issue1,600,000 shares of ₹10
(aggregating up to ₹1.60 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Company Promoters

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

Promax Power Limited IPO Timeline (Tentative Timetable)

Promax Power Limited IPO opens on Sep 30, 2021, and closes on Oct 4, 2021. The Promax Power Limited IPO bid date is from Sep 30, 2021 10.00 A.M. to Oct 4, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Promax Power Limited IPO Opening Date Sep 30, 2021
Promax Power Limited IPO Closing Date Oct 4, 2021
Basis of Allotment Oct 7, 2021
Initiation of Refunds Oct 8, 2021
Credit of Shares to Demat Oct 11, 2021
Promax Power Limited IPO Listing Date Oct 12, 2021

Promax Power Limited IPO Lot Size

The Promax Power Limited IPO 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
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 Review

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...


Promax Power Limited IPO Subscription Status (Bidding Detail)

The Promax Power Limited IPO is subscribed 6.89 times on Oct 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)

CategorySubscription (times)
NII2.39
Retail11.38
Total6.89

Promax Power Limited IPO Prospectus

Promax Power Limited IPO Rating

83
3.9
Rating:Rated 3.9 stars
Vote Here ...

Promax Power Limited IPO Listing Date

Listing Date Tuesday, October 12, 2021
BSE Script Code 543375
NSE Symbol
Listing In MT Group of Securities
ISIN INE0I2F01015
IPO Price ₹10 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹10.00
₹11.00
₹11.00
₹11.55
₹11.55

Company Contact Information

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/

Promax Power Limited IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://online.cameoindia.com/

Promax Power Limited IPO Review

Promax Power Limited IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 0

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IPO Broker Recommendations

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 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 .

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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Promax Power Limited IPO Message Board

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48 Comments

18. B.K. Singhania |   Link |Nov 24, 2021 2:44:53 PM
seems to be good as of 24th nov price is already 2.5 times 25.5rs
17. CoolAsh |   Link |Oct 27, 2021 10:09:23 AM
Any idea whats going on on this?
16. Pokchok |   Link |Oct 12, 2021 12:21:25 PM
15% up today.. Lets see how this goes from here.
16.1. Don Market Ka |   Link |Oct 12, 2021 11:28:56 PM
Just the start.....
15. Don Market Ka |   Link |Oct 12, 2021 11:28:14 PM
Wait and watch the Promax Power for next 2 years. For short term traders may consider exiting around Rs.25/- level.
14. MRavichandran |   Link |Oct 8, 2021 1:12:36 PM
IPO Guru IPO Guru (1400+ Posts, 1800+ Likes)
received one lot Promax allotment out of 3 Lots from HNI application

thanks
14.11. Dinesh Singh |   Link |Oct 12, 2021 5:45:14 PM
IPO Guru IPO Guru (1000+ Posts, 400+ Likes)
@lokes: let''s see tomorrow but my gut feeling is that less attractive IPO always give good return.
It is my experience in SME of last 5 years.
14.12. lokes |   Link |Oct 12, 2021 6:26:36 PM
IPO Guru IPO Guru (3100+ Posts, 3300+ Likes)
@dinesh: yes experience also matters a lot....we will also learn from our experiences going forward....we are new now in sme and exploring and learning.
13. Arca |   Link |Oct 8, 2021 7:57:35 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
This is going to rock, just like get along outperformed jainam
13.7. MRavichandran |   Link |Oct 9, 2021 9:08:48 PM
IPO Guru IPO Guru (1400+ Posts, 1800+ Likes)
@Dinesh Singh,
Good luck with destiny and dynamic.

thanks
13.8. Unknwon |   Link |Oct 11, 2021 10:27:36 AM
Good Luck @dinesh
12. sailesh bohra |   Link |Oct 7, 2021 11:50:08 AM
50 paise gmp
11. Krats |   Link |Oct 5, 2021 10:21:38 AM
GMP of the IPO plz.
11.1. sailesh bohra |   Link |Oct 7, 2021 11:49:09 AM
50 paise
10. RSRoyal |   Link |Oct 3, 2021 12:02:12 PM
See profit
Nothing
Debt
Huge
So useless
Go for rpower
Would be double in six months
9. RSRoyal |   Link |Oct 3, 2021 12:01:44 PM
See profit
Nothing
Debt
Huge
So useless
Go for rpower
Would be double in six months
8. Small Investor |   Link |Oct 1, 2021 11:22:01 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Ignore to LM
Apply
8.2. LockDownInvestor |   Link |Oct 1, 2021 8:07:46 PM
@Arca: Option 2 has more chances of getting 2 lots.
8.3. lokes |   Link |Oct 2, 2021 9:51:19 PM
IPO Guru IPO Guru (3100+ Posts, 3300+ Likes)
@arca: it is already subscribed 3.5 times in retail so like in mainboard ipo , you will get only 1 lot if allotted even if you apply for two lots...
so better to apply 1 lot from each account so that you may get atleast 1 lot as it may subscribe more than 8-10 times in retail by tomorrow since issue size is very small...
7. sacebdkg |   Link |Oct 2, 2021 2:27:37 PM
I don''t get it.. This company has huge amount of increasing debts(secured and unsecured) and projects are obtained through bidding/tenders and big players are already into the sector quite deep..

Any thought??
6. Shah bhupesh chunilal |   Link |Oct 2, 2021 9:11:53 AM
Please guide me APPLY OR NO
6.1. MintIndian |   Link |Oct 2, 2021 11:09:47 AM
May apply, Risks should be taken in consideration.
(Note - I may apply in 1/10 SME, that is my risk appetite. I am still weighing the pros and cons of each one and have not applied in any one yet. Date of 2 IPOs is over already). There is still a small chance, I may not apply in any.
5. Arca |   Link |Sep 30, 2021 8:30:17 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
I think this the only ipo which could be subscribed in current sme run.
1. P/b = near 1 since issue is at par
2. Sector is diversified and growth potential is there.
3. High chances of getting long term capital gain.
4. Since issue is at par , worst case to make loss is promoter wasting money or fraud company.
5. Dilip has given may apply rating
Better to choose this over other High priced ipo


Thank u
4. SSingh |   Link |Sep 30, 2021 3:39:32 PM
Big Avoid. All the SME IPOs in the current league are big time NO!
3. i For IPO ☑️ |   Link |Sep 30, 2021 1:02:51 PM
Why Number Given In Thousand

Its Confusing @admin
2. Bhandodi |   Link |Sep 28, 2021 10:57:50 PM
Aniket sir apply or not this ipo
1. MintIndian |   Link |Sep 26, 2021 11:12:43 PM
Iss SME IPOs ki bheed mai, ek bhi accha nahi hai.
1.3. Spock 🖖 |   Link |Sep 27, 2021 4:56:35 PM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
at least avoid SME ipos of finshr LM.
1.4. Vantage |   Link |Oct 1, 2021 2:10:27 PM
Whats the role of a LM in an IPO price?
IPO price should depend on cos. performance , isnt it ?