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.
| Bidding Dates |
|---|
| 30 Sep 2021 - 04 Oct 2021 |
| Subscription |
|---|
| 6.89x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,00,000 | 1 | 2 | 10000 | 1.6 M | ₹10 | 73.33 % | ₹16.0 M | RHP DOC |
Promax Power IPO SUBSCRIPTION STATUS
04 Oct '21Promax Power IPO overall subscription rate was 6.89 times the total available shares
Promax Power IPO retail subscription rate was 11.38 times in the retail segment
Promax Power IPO non-institutional investor subscription rate was 2.39 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
30 Sep 2021 (Day 1) | 1.29x | 1.46x | - |
01 Oct 2021 (Day 2) | 3.59x | 1.58x | - |
02 Oct 2021 (Day 3) | 3.59x | 1.58x | - |
04 Oct 2021 (Day 4) | 11.38x | 2.39x | - |
Promax Power FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| FY21 | 17.8 | 368.9 | 66.6 | -6.5 |
| FY20 | 31.1 | 77.6 | 31.0 | 12.0 |
Promax Power IPO SUBSCRIPTION STATUS DETAILS
Promax Power had 1.6 M shares on offer
Promax Power IPO offer price was ₹10
Promax Power IPO minimum Investment was ₹100000
Promax Power IPO issue size was ₹ 16.0 M
Promax Power had a minimum lot size of 10000 Shares per application
Promax Power NUMBER OF SHARES ON OFFER
Promax Power IPO IMPORTANT DATES
| Issue Open Date | 30 Sep 2021 |
| Issue close Date | 04 Oct 2021 |
| Allotment Date | 07 Oct 2021 |
| Refund Date | 08 Oct 2021 |
| Demat Account Credit Date | 11 Oct 2021 |
| Listing Date | 12 Oct 2021 |
| Listing on Exchange(s) | BSE |
| Promax Power Allotment Status | Exchange |
Promax Power IPO subscription opened on 30 Sep 2021, and closed on 04 Oct 2021
IPO allotment for Promax Power was finalized on Thursday, 07 Oct 2021
IPO listing for Promax Power was on BSE on Tuesday, 12 Oct 2021
Promax Power IPO LISTING GAINS
| Issue Price (adjusted) | 5.0 |
| Listing Open Price | 13.3 |
| Listing Close Price | 11.6 |
| Listing Gain% | 33.5% |
| Current Gain% | 159.8% |
Promax Power Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promax Power Ltd. | 13 | 7.8 | 37.9 | -0.4 | 0.1 | 2.8 | 1.3 | 71.2 | 6.6 | 0.9 | -63.4 | 0.3 | -91.2 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Promax Power INFORMATION ON IPO ISSUE
About Promax Power
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.
Object of the Issue
1.Meet working capital requirements
2.Meet issue expenses
3.General corporate purposes
Promax Power - PROMOTERS
| Name |
|---|
| Vishal Bhardwaj |
| Shweta Bhardwaj |
Promax Power Lead Manager
Finshore Management Services Limited
ramakrishna@finshoregroup.com
Promax Power Registrar to the issue
Cameo Corporate Services Limited
investor@cameoindia.com
Promax Power Strengths
Organizational stability along with management expertise
The group has an established track record of over 15 years which indicates the company’s ability to weather economic and business cycles and competent promoters have over a decade of relevant experience.
Smooth flow of operations
The company has been successful in building a strong client base, thus helps to get repeat business
Quality & ISO Certifications
Company's ISO certificates show good quality of services and good financial performance and strength.
Promax Power Risks
Outstanding litigations
There are certain outstanding litigations involving the company/promoters/directors
Dependent on a few customers
Business is dependent on a few customers and the loss of, or a significant reduction in award of contracts by such customers could adversely affect business.
IPO FAQs
Promax Power Ltd IPO listing opened at Rs 13.35 while the issue price was Rs 10.00 giving 33.50% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 5.00 giving 159.80% gains since its IPO listing.
The promoters of the company are Vishal Bhardwaj and Shweta Bhardwaj.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 10.0 - 10.0.
The IPO application opens on Sep 30, 2021 and closes on Oct 04, 2021.
The minimum lot size for the IPO is 10000. The maximum lot size for the IPO is 20000.
For all category investors, the minimum application amount for this IPO is Rs. 100,000.0, the maximum value for this IPO is Rs 200,000.0.
This IPO will be allotted on Oct 07, 2021.
The refund will be credited to your account on Oct 08, 2021.
The allotted shares will be credited to your demat on Oct 11, 2021.
Promax Power Ltd’s shares listed on the stock exchanges on Oct 12, 2021.