Prostarm Info Systems Shares listing: Prostarm Info Systems made a decent debut on the stock exchanges on Tuesday, listing at a premium of 19.05 per cent over its issue price of Rs 105.
The shares opened at Rs 125 apiece on the BSE, while on the NSE, they were listed at Rs 120, reflecting a 14.29 per cent gain. The listing comes on the back of strong investor interest during the IPO bidding window.
The Rs 168-crore initial public offering of Prostarm Info Systems was entirely a fresh issue comprising 1.60 crore equity shares, priced in a band of Rs 95 to Rs 105 per share. The lot size for the IPO was 142 shares. The issue opened for subscription on May 27 and closed on May 29. Allotments were finalised on May 30, and the stock was listed on both the BSE and NSE on June 3.
Prostarm Info Systems IPO: Subscription status
The IPO received an overwhelming response from investors. On the final day of bidding, the issue was subscribed 97.20 times overall, with investors applying for 108.86 crore shares against the 1.12 crore shares on offer. The non-institutional investor segment saw the highest demand, subscribing 222.13 times, followed by qualified institutional buyers at 104.49 times and retail individual investors at 39.49 times.
Of the total offer, 50 per cent was earmarked for QIBs, 35 per cent for retail investors, and the remaining 15 per cent for NIIs. Choice Capital Advisors was the book-running lead manager, and KFin Technologies served as the registrar to the issue.
What will funds be used for?
According to the Red Herring Prospectus filed by the company, the proceeds from the IPO will be used to meet working capital requirements, repay or prepay certain outstanding borrowings, and fund inorganic growth opportunities through acquisitions and other strategic initiatives. A portion of the funds will also go towards general corporate purposes.
About Prostarm Info Systems
Prostarm Info Systems specialises in the design, manufacture, and sale of energy storage and power conditioning equipment. Its product portfolio includes UPS systems, inverters, and solar hybrid systems. The company caters to various sectors such as healthcare, aviation, and renewable energy, and has a presence across 18 states and one union territory in India. In addition to product sales, Prostarm also provides installation services, rental solutions, and after-sales support, serving major clients like Airports Authority of India and NTPC.
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
