Promax Power IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 19, 2022Let’s have a detailed review of the company and analytics of the Promax Power IPO release date, IPO offer price, subscription, Promax Power Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Cash Price | Rs 10 |
| Listing At | BSE, SME |
| Min. Order Quantity | 10000 Shares |
| Listing Date | Oct 12, 2021 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 160 Lakh |
| IPO Size | Rs 160 Lakh |
| Tick Size | 1 |
Promax Power IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Promax Power Share Price |
Promax Power IPO – Summary
Their Company is founded and promoted by Chandigarh-based Mr. Vishal Bhardwaj and his wife Mrs. Shweta Bhardwaj in the year 2017 with a motive to take over the business of M/s. Promax Technologies (a sole proprietorship firm of Vishal Bhardwaj) as a going concern basis and to continue the similar and related business activity in the name of the company.
This was done to corporatize and build a professionally managed and Board driven organization. M/s. Promax Technologies (a sole proprietorship firm of Vishal Bhardwaj) was into the undertaking of EPC projects (Engineering, Procurement, and construction) of Electric substation & Transmission line, Power distribution, Hydro, Solar power stations, etc. operating since 2006.
The Promoter of this company is Mr. VISHAL BHARDWAJ AND Mrs. SHWETA BHARDWAJ. The lead manager to the issue is FINSHORE MANAGEMENT SERVICES LIMITED, and the Registrar to this issue is CAMEO CORPORATE SERVICES LIMITED.
Promax Power IPO Date
The opening and the closing date of Promax Power IPO are Sep 30, 2021, and Oct 4, 2021 respectively.
Promax Power IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 30 Sep | 1.46x | 1.29x | 1.38x |
| 2nd Day – 1 Oct | 1.58x | 3.59x | 2.59x |
| 3rd Day – 4 Oct | 2.39x | 11.38x | 6.89x |
| Shares Offered or Net Issue | 760,000 | 760,000 | 1,520,000 |
The shares subscribed by the public will be updated here.
Check Promax Power IPO LIVE Subscription
- Promax Power IPO LIVE Bid details on BSE
- Promax Power IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Promax Power IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Promax Power Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Oct 7, 2021 |
| Refunds Initiation | Oct 8, 2021 |
| Credit of Shares to Demat Account | Oct 11, 2021 |
| Share Listing Date | Oct 12, 2021 |
Promax Power IPO Cash Price
The face value of each share is Rs.10, but the price band of the IPO is Rs.10
Promax Power IPO Size
This Initial Public Issue of 16,00,000 Equity Shares of Rs.10 each for cash at a price of Rs.10 per equity share aggregating to Rs.160 Lakh.
Promax Power IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: 16,00,000 Equity Shares of Rs.10 each, aggregating to Rs.160 Lakh
Open Free Demat Account Now!
Promax Power IPO – Live Performance
The listing date of this IPO is Oct 12, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Promax Power Share Price |
Promax Power IPO Grey Market Premium
The Promax Power Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Promax Power IPO – Company Overview
In the year 2020, Promax Power has taken over the Project management and execution business undertaking of M/s. Promax technologies as a going concern on a slump sale “as is where is” basis vide Slump Sale Agreement dated March 31, 2020, at a value of Rs. 1.82 crores.
They provide high-quality professional solutions, design, and engineering services to their customers. Their highly skilled professionals and dedicated team are ever ready to deliver their efficient services. Promax provides technical expertise most efficiently and cost-effectively, helping to ensure the highest degree of reliability and availability of the project.
Having achieved a certain degree of expertise after successfully executing various projects, they have an extremely experienced and diverse set of professionally trained and qualified engineers having versed ability in tackling and providing solutions to their customers and capability to handle all requirements and installations even at the highest scale and magnitude.
They are having a professionally managed team to execute their projects having vast techno-commercial knowledge and experience in the field of EPC.
Promax Power IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 204,296,535 | 206,632,840 | 106,296 |
| *Total Revenue | 368,896,886 | 77,632,970 | – |
| Total Expense | 358,491,675 | 73,449,860 | 118 |
| Profit After Tax | 1,783,887 | 3,114,718 | (118) |
Earnings per Equity Share (in Lakh)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 2.37 | 311.47 | (0.01) |
Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. 1,783,887 Lakh, Rs. 3,114,718 Lakh and Rs. (118) Lakh respectively.
Promax Power IPO – Promoters
The Promoter of this company is:
- Mr. VISHAL BHARDWAJ
- Mrs. SHWETA BHARDWAJ
List of Related Parties (Key Managerial Personnel)
- Vishal Bhardwaj, Managing Director
- Shweta Bhardwaj, Executive Director
- Pawan Kumar Jain, Non-Executive Director
- Sanjay Kumar, Independent Director
- Siddharth Shukla, Independent Director
Promax Power IPO – Promoters Holding
- Pre Issue Share Holding – 99.99%
- Pos Issue Share Holding – 73.33%
Promax Power IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 10 Equity Shares aggregating up to Rs.160 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 80,000 Equity Shares aggregating up to Rs.8 Lakh |
| Net Issue to the Public | Up to 15,20,000 Equity Shares aggregating up to Rs.152 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 7,60,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 7,60,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 44,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 60,00,000 Equity Shares |
Promax Power IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To meet the working capital requirements of the company
2. To meet the Issue Expenses
3. General Corporate Purposes
Promax Power – Business Strategy
- Quality Assurance
- Increase geographical presence
- Leverage and enhance their brand name
- Improving operational efficiencies
- Leveraging their Market skills and Relationships
- Increasing the customer reach
- Innovative & Marketing Method
Promax IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Established and proven track record;
- Leveraging the experience of their Promoters;
- Experienced management team and a motivated and efficient workforce;
- Cordial relations with their customers
- Quality Assurance & Control
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 2.37 | 3.65 | 11.11 |
| 31-Mar-20 | 311.47 | 96.90 | – |
| Mar-19 | (0.01) | (0.12) | – |
Promax Power: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Promax Power Limited | 10 | [●] | 2.37 | 3.65 | 368,896,886 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Promax Power IPO Lead Managers
| Lead Managers |
| FINSHORE MANAGEMENT SERVICES LIMITED Anandlok”, Block-A, 2nd Floor, Room No. 207, 227 A.J.C Bose Road, Kolkata-700020, West Bengal Telephone: 033 – 22895101 Email: ramakrishna@finshoregroup.com Contact Person: Mr. S. Ramakrishna Iyengar Website: www.finshoregroup.com Investor Grievance Email: info@finshoregroup.com SEBI Registration No: INM000012185 CIN No: U74900WB2011PLC169377 |
Promax Power IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED “Subramanian Building”, #1, Club House Road, Chennai – 600 002, India Telephone: +91-44-40020700, 28460390 Facsimile: +91-44-28460129 Email: investor@cameoindia.com Contact Person: Mr. R.D. Ramasamy, Director Website: www.cameoindia.com SEBI Registration Number: INR000003753 CIN No: U67120TN1998PLC041613 |
Promax Power IPO – Other Details
- Statutory Auditor – M/s. Jain Sachin & Associates, Chartered Accountants
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Promax Power IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Subscribe to Promax Power IPO
Promax Power Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Promax Power IPO Review FAQs
Ques – What is the Issue Size of Promax Power IPO?
Answer – The Company is making an initial public offer of 16,00,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
Ques – What is the Price of Promax IPO shares?
Answer – The price band for this particular IPO ranges between Rs 10. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Promax IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Sep 30, 2021, while the closing date is set at Oct 4, 2021.
Ques – What is the Promax Power IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Oct 7, 2021, refund initiation is on Oct 8, 2021, credit of shares is on Oct 11, 2021, and share listing date is on Oct 12, 2021.
Ques – What is the Promax Power IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges on Oct 12, 2021. The date, when the listing would be done, is stagnant on Oct 12, 2021.
Ques – Who is the Registrar of Promax Power IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. CAMEO CORPORATE SERVICES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Promax Power IPO?
Answer – Here are the promoters of this IPO – Mr. VISHAL BHARDWAJ, AND Mrs. SHWETA BHARDWAJ. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is the GMP of Promax Power IPO?
Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Promax Power IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Promax Power Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Lakh is 1,783,887, 2020 is 3,114,718, 2019 is (118).
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Featured Topics