Prostarm Info Systems Limited made an impressive debut on the stock exchanges on Tuesday, June 3, listing at ₹120 on the National Stock Exchange (NSE), marking a 14.29% premium over its issue price of ₹105. On the Bombay Stock Exchange (BSE), the shares opened even higher at ₹125, reflecting a 19% gain.
The ₹168 crore initial public offering (IPO) garnered massive investor interest, being oversubscribed by an astounding 96.68 times during its three-day subscription window from May 27 to May 29. The IPO received total bids for 108.27 crore shares, compared to the 1.12 crore shares on offer.
Among investor categories, the non-institutional investors (NIIs) led the charge with a 222.13 times subscription, while qualified institutional buyers (QIBs) booked 102.67 times and retail investors subscribed 39.42 times their allotted portion.
IPO Details
The Prostarm IPO was a completely fresh issue of 1.6 crore equity shares, with no offer-for-sale component. Retail investors needed to apply for a minimum of 142 shares, amounting to an investment of ₹14,910.
Proceeds from the public issue will be allocated as follows:
- ₹72.5 crore towards repayment of certain outstanding borrowings
- ₹18 crore for capital expenditure
- The remaining funds will be used for strategic acquisitions and other inorganic growth opportunities.
Choice Capital Advisors Pvt Ltd served as the lead book-running manager, and Kfin Technologies Limited acted as the registrar for the issue.
About Prostarm Info Systems
Founded in January 2008, Prostarm Info Systems Limited is a leading Indian provider of energy storage and power conditioning solutions. The company designs and manufactures products such as uninterruptible power supply (UPS) systems, inverters, solar hybrid inverters, lithium-ion battery packs, and voltage stabilisers.
In addition to its proprietary products, Prostarm distributes third-party batteries and offers services like reverse logistics and end-of-life management for UPS systems and batteries. It is also actively involved in EPC-based rooftop solar power projects across India.
Conclusion
With a stellar listing and overwhelming investor response, Prostarm Info Systems’ IPO highlights strong market confidence in the company’s growth prospects and its pivotal role in India’s power solutions and clean energy transition.
