Prostarm Info Systems Ltd’s initial public offering (IPO) continued to draw strong investor interest on Day 2, with an overall subscription of 7.5 times as of 12:30 pm, according to BSE data.
The issue received bids for 8.40 crore shares against 1.12 crore shares on offer. The non-institutional investor (NII) segment led the demand with a subscription of 14.70 times, while the retail individual investor (RII) portion was subscribed 8.63 times. The Qualified Institutional Buyers (QIBs), who typically come in on the final day, subscribed to only 0.14 times of their allocated quota so far.
Prostarm Info Systems IPO: Day 1
Prostarm Info Systems’ IPO, which opened with a price band of Rs 95–Rs 105 per share, saw strong traction on Day 1 (May 27), with the issue subscribed over 3.5 times by the end of the first day of bidding. The surge was driven largely by retail and non-institutional investors.
As per exchange data for May 27, the IPO received bids for approximately 3.98 crore shares against an offer size of 1.12 crore shares. The retail portion was subscribed 4.15 times, while the NII category was oversubscribed 6.83 times. The QIB segment remained largely muted on Day 1 with a subscription of just 0.05 times.
The public offering is a fresh issue of 1.6 crore shares worth Rs 168 crore, with a minimum lot size of 142 shares. The IPO will conclude on May 29.
Prostarm Info Systems IPO: Allocation and key managers
The IPO allocation is divided with 50 percent reserved for Qualified Institutional Buyers (QIBs), 35 percent for retail investors, and the remaining 15 percent for non-institutional investors. Choice Capital Advisors has been appointed as the Book Running Lead Manager (BRLM), while KFin Technologies is handling the registrar responsibilities.
Prostarm Info Systems IPO: Allotment & listing dates
The basis of allotment is expected to be finalised the following day, Friday, May 30, 2025, with shares credited to investors’ demat accounts by Monday, June 2, 2025. Prostarm Info Systems shares are scheduled to debut on the stock exchanges on Tuesday, June 3, 2025, with listings on both the BSE and NSE.
What will the funds be used for?
The company plans to deploy Rs 72.5 crore towards its capital expenditure needs, and Rs 17.95 crore will go into repaying existing borrowings. The rest will be used for acquisitions, strategic growth initiatives, and general corporate purposes.
Before the issue opened to the public, Prostarm had already raised Rs 50.4 crore from anchor investors. These include names like Chhattisgarh Investment Ltd, Astrone Capital VCC ARVEN, Vikasa India, and Swyom India Alpha Fund. However, domestic mutual funds did not participate in the anchor round.
Prostarm Info Systems overview
Founded in 2008, Prostarm is a power solutions company that specialises in UPS systems, inverters, lithium-ion battery packs, and solar EPC projects. It serves a range of industries including healthcare, aviation, defence, education, and renewable energy. The company manufactures products under its own brand and also offers turnkey solar projects and maintenance services.
For the nine months ending December 2024, Prostarm reported a net profit of Rs 22.93 crore on a revenue of Rs 268.63 crore.
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/
