Fixed Price IPO | ₹2 Cr | Listed at BSE SME | Thu, Sep 30, 2021 - Mon, Oct 4, 2021
Promax Power IPO is a fixed price issue of ₹1.60 crores. The issue is entirely a fresh issue of 0.16 crore shares of ₹1.60 crore.
Promax Power IPO bidding started from Sep 30, 2021 and ended on Oct 4, 2021. The allotment for Promax Power IPO was finalized on Oct 7, 2021. The shares got listed on BSE SME on Oct 12, 2021.
Promax Power IPO price is ₹10 per share. The lot size for an application is 10,000. The minimum amount of investment required by an individual investor (retail) is ₹1,00,000 (10000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (30,000 shares), amounting to ₹3,00,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Promax Power IPO RHP for detailed Information.
IPO Open
Thu, Sep 30, 2021
IPO Close
Mon, Oct 4, 2021
Issue Price
₹10 per share
Market Cap (Pre-IPO)
₹6.00 Cr
| IPO Date | 30 Sep to 4 Oct, 2021 |
| Listed on | Tue, Oct 12, 2021 |
| Face Value | ₹10 per share |
| Issue Price | ₹10 per share |
| Lot Size | 10,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 16,00,000 shares (agg. up to ₹2 Cr) |
| Reserved for Market Maker | 80,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹0.0800 Cr) |
| Fresh Issue (Ex Market Maker) | 15,20,000 shares (agg. up to ₹2 Cr) |
| Net Offered to Public | 15,20,000 shares (agg. up to ₹2 Cr) |
| Share Holding Pre Issue | 44,00,000 shares |
| Share Holding Post Issue | 60,00,000 shares |
| BSE Script Code | 543375 |
| ISIN | INE0I2F01015 |
Promax Power IPO comprises a total issue size of 16,00,000 shares. The net offer to the public is 15,20,000 shares, after excluding 80,000 shares allotted on a firm basis. Of the Net offer 7,60,000 (50.00%) allocated to NII 7,60,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 7,60,000 | 50.00% | 47.50% |
| Retail Shares Offered | 7,60,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 80,000 | 5.00% | |
| Total Shares Offered | 16,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 10,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 10,000 | ₹1,00,000 |
| Retail (Max) | 2 | 20,000 | ₹2,00,000 |
| HNI (Min) | 3 | 30,000 | ₹3,00,000 |
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 -
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
| 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 | To meet Working Capital Requirement | 1.22 |
| 2 | General Corporate Expenses | 0.10 |
| 3 | Public Issue Expenses | 0.28 |
The Promax Power Limited IPO is subscribed 6.89 times on October 4, 2021 5:45:00 AM (Day 4). 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)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.39 | 7,60,000 | 18,20,000 |
| Retail | 11.38 | 7,60,000 | 86,50,000 |
| Total | 6.89 | 15,20,000 | 1,04,70,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including Underwriting Commission, Brokerage, Selling Commission and upload Fees, Registrar to the Issue, Legal Advisors etc | 0.19 |
| 2 | Advertising and Marketing Expenses | 0.03 |
| 3 | Regulators Including Stock Exchanges | 0.05 |
| 4 | Printing and distribution of Issue Stationary | 0.02 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹10.00 |
| Open | ₹11.00 |
| Low | ₹11.00 |
| High | ₹11.55 |
| Last Trade | ₹11.55 |
Lead Manager Reports
Promax Power IPO is a SME IPO of 16,00,000 equity shares of the face value of ₹10 aggregating up to ₹2 Crores. The issue is priced at ₹10 per share. The minimum order quantity is 10000.
The IPO opens on Thu, Sep 30, 2021, and closes on Mon, Oct 4, 2021.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Promax Power IPO using UPI as a payment gateway. Zerodha customers can apply in Promax Power IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Promax Power IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Promax Power IPO opens on Thu, Sep 30, 2021 and closes on Mon, Oct 4, 2021.
Promax Power IPO lot size is 10000, and the minimum amount required for application is ₹1,00,000.
You can apply in Promax Power 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 Promax Power IPO will be done on Thursday, October 7, 2021, and the allotted shares will be credited to your demat account by Mon, Oct 11, 2021. Check the Promax Power IPO allotment status.
The Promax Power IPO listing date is on Tue, Oct 12, 2021.
