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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 ₹10.00 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). The minimum lot size investment for 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 Date | September 30, 2021 to October 4, 2021 |
| Listing Date | October 12, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹10 per share |
| Lot Size | 10,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 16,00,000 shares (aggregating up to ₹1.60 Cr) |
| Reserved for Market Maker | 80,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹0.0800 Cr) |
| Net Offered to Public | 15,20,000 shares (aggregating up to ₹1.52 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 44,00,000 shares |
| Share Holding Post Issue | 60,00,000 shares |
Promax Power Limited IPO offers total 16,00,000 shares. Out of which 7,60,000 (47.50%) allocated to NII, 7,60,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 80,000 (5.00%) |
| NII (HNI) Shares Offered | 7,60,000 (47.50%) |
| Retail Shares Offered | 7,60,000 (47.50%) |
| Total Shares Offered | 16,00,000 (100.00%) |
Promax Power IPO opens on September 30, 2021, and closes on October 4, 2021.
| IPO Open Date | Thu, Sep 30, 2021 |
| IPO Close Date | Mon, Oct 4, 2021 |
| Tentative Allotment | Thu, Oct 7, 2021 |
| Initiation of Refunds | Fri, Oct 8, 2021 |
| Credit of Shares to Demat | Mon, Oct 11, 2021 |
| Tentative Listing Date | Tue, Oct 12, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Oct 4, 2021 |
Investors can bid for a minimum of 10,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
| 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) | ||
The Company Promax Power IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | To meet Working Capital Requirement | 1.22 |
| 2 | General Corporate Expenses | 0.10 |
| 3 | Public Issue Expenses | 0.28 |
[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...
| Listing Date | October 12, 2021 |
| BSE Script Code | 543375 |
| NSE Symbol | |
| ISIN | INE0I2F01015 |
| Final Issue Price | ₹10 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹10.00 |
| Open | ₹11.00 |
| Low | ₹11.00 |
| High | ₹11.55 |
| Last Trade | ₹11.55 |
Promax Power Ltd.
House No: 1575,
Ground Floor,
Sector – 38B,
Chandigarh, Chandigarh, 160038
Phone: 0712-4003904
Email: cs@promax.co.in
Website: https://www.promax.co.in/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
Promax Power IPO is a SME IPO of 16,00,000 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.
The IPO opens on September 30, 2021, and closes on October 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 September 30, 2021 and closes on October 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 Monday, October 11, 2021. Check the Promax Power IPO allotment status.
The Promax Power IPO listing date is on Tuesday, October 12, 2021.
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