Prostarm Info Systems IPO Day 3: Issue subscribed 23.9 times so far; retail, NII segments show strong interest

The public issue of Prostarm Info Systems Ltd is seeing strong investor interest on its final day, May 29, 2025. As of 11:12 am, the IPO has been subscribed 23.90 times overall, according to data available on the BSE. Investors have bid for a whopping 26.77 crore shares against 1.12 crore shares on offer.

The non-institutional investor (NII) segment has led the charge with a staggering 63.75 times subscription, followed by retail individual investors (RIIs), who have subscribed 19.20 times. The qualified institutional buyers (QIBs) category, which typically sees the most action on the final day, recorded a more moderate subscription of 2.24 times.

Prostarm Info System Day 2: Subscription status

On Day 2 of the bidding, which closed at 5 pm on May 28, the issue had already seen healthy participation with an overall subscription of 12.65 times. It had then received bids for about 14.17 crore shares. NIIs had shown robust interest with 27.23 times subscription, while retail investors subscribed 13.04 times. QIBs had taken a cautious approach on Day 2 with a subscription of just 1.03 times.

Prostarm Info System IPO details: Allocation, managers and more

The IPO opened for subscription on Tuesday, May 27, 2025, and is set to close today. Of the total issue, 50 percent is reserved for QIBs, 35 percent for retail investors, and the remaining 15 percent for NIIs.

Choice Capital Advisors is managing the issue as the book-running lead manager (BRLM), while KFin Technologies is handling the registrar duties.

Prostarm Info System: Allotment and listing dates

Investors can expect the basis of allotment to be finalised on Friday, May 30. Shares are likely to be credited to demat accounts by Monday, June 2. Prostarm Info Systems is expected to list on the BSE and NSE on Tuesday, June 3, 2025.

Analyst calls: Should you subscribe?

Brokerages appear largely optimistic about Prostarm’s long-term potential. SBI Securities has given a ‘subscribe’ rating, citing the company’s diversified offerings and steady financial growth. At the upper price band of Rs 105 per share, the IPO is valued at 20.2 times FY25E earnings — a valuation SBI believes is fair when compared to peers.

Bajaj Broking called the issue “fairly priced” and pointed out Prostarm’s ability to deliver integrated power solutions under one roof as a key strength. The firm has also recommended subscribing, especially for long-term investors.

SMC Global Securities sees Prostarm as a strong play in the power solutions space, backed by robust financials, loyal clientele, and a push towards global expansion.

Prostarm Info System: Use of proceeds

Prostarm Info System plans to use Rs 72.5 crore from the fresh issue for capital expenditure, while Rs 17.95 crore will go towards repaying existing loans. The remaining funds will be deployed for strategic growth initiatives, potential acquisitions, and general corporate purposes.

Prostarm Info System: Company overview

Founded in 2008, Prostarm Info Systems is a Pune-based power solutions company offering a wide range of products like UPS systems, inverters, lithium-ion battery packs, and turnkey solar EPC services. Its clientele spans across healthcare, defence, aviation, education, and the renewable energy sectors. The company operates under its own brand and also undertakes maintenance and project execution work.

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 — reflecting its steady financial performance ahead of the public offering.