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.

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 Date Sep 30, 2021 to Oct 4, 2021
Listing Date Oct 12, 2021
Face Value ₹10 per share
Price ₹10 per share
Lot Size 10000 Shares
Total Issue Size1,600,000 shares
(aggregating up to ₹1.60 Cr)
Fresh Issue1,600,000 shares
(aggregating up to ₹1.60 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME

Promax Power Limited IPO Reservation

NII (HNI) Shares Offered760000
Retail Shares Offered760000
Market Maker portion80,000 shares
Total Shares Offered1,520,000

Promax Power Limited IPO Tentative Timetable

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

Event Tentative Date
Opening Date Sep 30, 2021
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
Listing Date Oct 12, 2021
UPI Mandate Confirmation Cut-Off Time 5.00 PM on the issue closing day

Promax Power Limited IPO Lot Size

The Promax Power Limited IPO lot size is 10000 shares.

Application Lots Shares Amount
Retail (Min) 1 10000 ₹100,000
Retail (Max) 2 20000 ₹200,000
Lot Size Calculator

Promax Power Limited IPO Promoter Holding

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

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

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)

Promax Power Limited IPO Review (May apply)

[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...

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)

Promax Power Limited IPO Prospectus

Promax Power Limited IPO Rating

Rating:Rated 3.9 stars
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Promax Power Limited IPO Listing Details

Listing Date Oct 12, 2021
BSE Script Code 543375
NSE Symbol
IPO Price ₹10 per share

Listing Day Trading Information

Price Details
IPO Price
Last Trade

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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://ipo.cameoindia.com/

Promax Power Limited IPO Analysis

Promax Power Limited IPO Recommendation Summary

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

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SME IPO Enquiry

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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, Nuvama, 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 Oct 12, 2021.
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Promax Power Limited IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Most Liked Members



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 (200+ Posts)
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 (1800+ Posts, 2400+ Likes)
received one lot Promax allotment out of 3 Lots from HNI application

14.11. Dinesh Singh |   Link |Oct 12, 2021 5:45:14 PM
IPO Guru IPO Guru (1100+ Posts, 500+ 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 (3800+ Posts, 4300+ 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
IPO Mentor IPO Mentor (900+ Posts, 400+ 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 (1800+ Posts, 2400+ Likes)
@Dinesh Singh,
Good luck with destiny and dynamic.

13.8. Unknwon |   Link |Oct 11, 2021 10:27:36 AM (200+ Posts)
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
So useless
Go for rpower
Would be double in six months
9. RSRoyal |   Link |Oct 3, 2021 12:01:44 PM
See profit
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
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 (3800+ Posts, 4300+ 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
IPO Mentor IPO Mentor (900+ Posts, 400+ 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
IPO Mentor IPO Mentor (700+ Posts, 300+ Likes)
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
IPO Mentor IPO Mentor (500+ Posts, 700+ Likes)
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 ?