Prostarm Info Systems Share Price made an impressive entry on the stock exchanges, drawing significant attention from investors and market watchers alike.
Market Performance
Prostarm Info Systems shares were listed on June 3 with notable gains on both major Indian stock exchanges:
- NSE Listing Price: ₹120
A premium of 14.29% over the issue price of ₹105
- BSE Listing Price: ₹125
Premium of 19%
This robust listing highlights investor enthusiasm and confidence in the company's fundamentals.
Main News: Heavily Subscribed IPO Garners Massive Demand
The Prostarm Info Systems IPO witnessed overwhelming participation from all investor categories during its subscription window from May 27 to May 29.
Key Subscription Figures:
- Total Issue Size: ₹168 Crore
- Total Bids Received: 108.27 Crore shares
- Shares Available: 1.12 Crore
- Overall Subscription: 96.68 times
Segment-Wise Subscription:
- Retail Investors: 39.42 times
- Non-Institutional Investors (NIIs): 222.13 times
- Qualified Institutional Buyers (QIBs): 102.67 times
This overwhelming response underscores the market's positive outlook toward Prostarm Info Systems' future.
Company Details
Founded in January 2008, Prostarm Info Systems Limited is a homegrown technology player specializing in energy storage and power conditioning solutions.
Key Offerings:
- UPS systems
- Inverter systems
- Solar hybrid inverters
- Lithium-ion battery packs
- Voltage stabilizers
The company operates through both in-house manufacturing and contract manufacturing models. It also engages in third-party battery distribution, reverse logistics, and end-of-life UPS disposal.
Additionally, Prostarm is actively involved in executing rooftop solar EPC projects across India.
IPO Utilization Breakdown
The IPO was a 100% fresh issue of 1.6 Crore shares, with no offer-for-sale component. Funds raised will be used strategically across several key areas:
- ₹72.5 Crore – Repayment of existing borrowings
- ₹18 Crore – Capital expenditure
- Remaining – Inorganic growth initiatives, including potential acquisitions
Summary
Prostarm Info Systems' share price recorded a strong listing on Indian bourses, backed by an overwhelming subscription rate of 96.68 times. The company's diversified energy product portfolio and strategic fund allocation from its ₹168 Crore IPO indicate a robust foundation for future growth.
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