Promax Power Limited IPO Detail
Incorporated in 2017, Promax Power Limited is 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, Power Transmission & Distribution, Substation, Solar Projects EPC, Sewerage Treatment Plant, and Water Treatment Plant.
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.IPO Details
| IPO Opening Date | Sep 30, 2021 |
| IPO Closing Date | Oct 04, 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 Size | ₹1.60 Cr |
| Fresh Issue | ₹1.60 Cr |
| Offer for Sale | - |
| Retail Portion | - |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.0x | - | - | 1.46x | 1.29x | 1.38x |
| Day 2 | 0.0x | - | - | 1.58x | 3.59x | 2.59x |
| Day 3 | 0.0x | - | - | 2.39x | 11.38x | 6.89x |
IPO Tentative Timetable
The Promax Power Limited IPO open date is Sep 30, 2021, and the close date is Oct 04, 2021. The issue may list on Oct 12, 2021.
| IPO Open Date | Sep 30, 2021 |
| IPO Close Date | Oct 04, 2021 |
| Basis of Allotment Date | Oct 07, 2021 |
| Initiation of Refunds | Oct 08, 2021 |
| Credit of Shares to Demat Account | Oct 11, 2021 |
| IPO Listing Date | Oct 12, 2021 |
IPO Lot Size
The Promax Power Limited IPO market lot size is 10000 shares. A retail-individual investor can apply for up to 1 lots (10000 shares or ₹100000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 10000 | ₹100000 |
| Maximum | 1 | 10000 | ₹100000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.999% |
| Post Issue Share Holding | 73.33% |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 20.4297 | 36.8899 | 0.1784 |
| 31-Mar-20 | 20.66379 | 7.7633 | 0.3114 |
| 31-Mar-19 | 0.0106 | 0 | 0.001 |
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.
