Bookbuilding IPO | ₹273 Cr | Listed at BSE, NSE | Fri, Aug 7, 2015 - Tue, Aug 11, 2015
Power Mech Projects IPO is a book build issue of ₹273.22 crores. The issue is a combination of fresh issue of 0.21 crore shares aggregating to ₹136.19 crores and offer for sale of 0.21 crore shares aggregating to ₹137.02 crores.
Power Mech Projects IPO bidding started from Aug 7, 2015 and ended on Aug 11, 2015. The shares got listed on BSE, NSE on Aug 26, 2015.
Power Mech Projects IPO price band is set at ₹640 per share. The lot size for an application is 20. The minimum amount of investment required by an retail is ₹12,800 (20 shares) (based on upper price). The lot size investment for sNII is 16 lots (320 shares), amounting to ₹2,04,800, and for bNII, it is 79 lots (1,580 shares), amounting to ₹10,11,200.
IIFL Capital Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Power Mech Projects IPO RHP for detailed Information.
IPO Open
Fri, Aug 7, 2015
IPO Close
Tue, Aug 11, 2015
Issue Price
₹640 per share
Market Cap (Pre-IPO)
₹941.49 Cr
| IPO Date | 7 to 11 Aug, 2015 |
| Listed on | Wed, Aug 26, 2015 |
| Face Value | ₹10 per share |
| Price Band | ₹615 to ₹640 |
| Issue Price | ₹640 per share |
| Lot Size | 20 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 42,69,000 shares (agg. up to ₹273 Cr) |
| Fresh Issue | 21,28,000 shares (agg. up to ₹136 Cr) |
| Offer for Sale | 21,41,000 shares of ₹10 (agg. up to ₹137 Cr) |
| Share Holding Pre Issue | 1,25,82,764 shares |
| Share Holding Post Issue | 1,47,10,764 shares |
| BSE Script Code / NSE Symbol | 539302 / POWERMECH |
| ISIN | INE211R01019 |
Power Mech Projects IPO comprises a total issue size of 42,69,000 shares. Out of which, 21,34,500 (50.00%) are allocated to QIB, 6,40,350 (15.00%) allocated to NII 14,94,150 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 21,34,500 | 50.00% | NA |
| − Anchor Investor Shares Offered | 12,80,700 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 8,53,800 | 20.00% | NA |
| NII (HNI) Shares Offered | 6,40,350 | 15.00% | NA |
| Retail Shares Offered | 14,94,150 | 35.00% | 74,707 |
| Total Shares Offered | 42,69,000 | 100.00% |
Investors can bid for a minimum of 20 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹12,800 |
| Retail (Max) | 15 | 300 | ₹1,92,000 |
| S-HNI (Min) | 16 | 320 | ₹2,04,800 |
| S-HNI (Max) | 78 | 1,560 | ₹9,98,400 |
| B-HNI (Min) | 79 | 1,580 | ₹10,11,200 |
Incorporated in 2007, Power Mech Projects Ltd is one of the leading integrated power infrastructure services companies in India providing comprehensive erection, testing and commissioning of boilers, turbines and generators ("ETC-BTG") and balance of plant ("BOP") works, civil works and operation and maintenance (O&M) services.
Company's operations include three principal business lines:
1. Erection Works;
2. Operation & Maintenance (O&M) Services; and
3. Civil Works.
They have established a track record of successfully executing ETC-BTG and BOP contracts for large power projects including for 800 MW unit capacity super-critical projects. They have been engaged on ETC-BTG projects for the first two ultra-mega power projects (UMPPs) in India as well as for 16 super-critical power projects in India. They were also one of the first companies in India to carry out the overhauling of a super-critical 660 MW turbine and providing AMC services for an ultra-mega power project (UMPP).
They have worked on various projects for Bharat Heavy Electricals Ltd, NTPC Ltd, Doosan Power Systems India Private Ltd, Adani Power Ltd, Larsen & Toubro Ltd-Thermal Power Plant Construction BU, Thermal Powertech Corporation India Ltd, GE Power Services (India) Private Ltd, CLP India Private Ltd, BGR Energy Systems Ltd, Siemens Ltd, Jindal India Thermal Power Ltd and Reliance Infrastructure Ltd.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 105.00 |
| 2 | General Corporate Purposes | 21.64 |
The Power Mech Projects IPO is subscribed 38.12 times on August 11, 2015 5:40:00 PM (Day 3). The public issue subscribed 3.42 times in the retail category, 27.53 times in the QIB category, and 133.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 27.53 | 8,53,800 | |
| NII | 133.22 | 6,40,350 | |
| Retail | 3.42 | 14,94,150 | |
| Total | 38.12 | 29,88,300 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Management Fees | 10.12 |
| 2 | Underwriting Commission, brokerage and selling commission | 1.26 |
| 3 | Commission payable to SCSBs | |
| 4 | Registrar’s Fees | 0.23 |
| 5 | Advertisement and marketing expenses | 1.73 |
| 6 | Printing and distribution expenses | 1.40 |
| 7 | Advisors | 1.91 |
| 8 | Bankers to the Issue | |
| 9 | Others (SEBI filing fees, bidding software expenses, depository charges, listing fees, fees payable to Registered Brokers, etc.) | 2.51 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹640.00 | ₹640.00 |
| Open | ₹600.00 | ₹640.00 |
| Low | ₹580.00 | ₹663.00 |
| High | ₹663.10 | ₹600.00 |
| Last Trade | ₹585.75 | ₹580.00 |
Power Mech Projects IPO is a main-board IPO of 42,69,000 equity shares of the face value of ₹10 aggregating up to ₹273 Crores. The issue is priced at ₹640 per share. The minimum order quantity is 20.
The IPO opens on Fri, Aug 7, 2015, and closes on Tue, Aug 11, 2015.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Power Mech Projects IPO using UPI as a payment gateway. Zerodha customers can apply in Power Mech Projects IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Power Mech Projects IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Power Mech Projects IPO opens on Fri, Aug 7, 2015 and closes on Tue, Aug 11, 2015.
Power Mech Projects IPO lot size is 20, and the minimum amount required for application is ₹12,800.
You can apply in Power Mech Projects IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Power Mech Projects IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Power Mech Projects IPO allotment status.
The Power Mech Projects IPO listing date is on Wed, Aug 26, 2015.
