Prostarm Info Systems Shares Close At 20% Upper Circuit Over Listing Price
Prostarm's shares had debuted on the BSE at Rs 125, at a 19.05% premium above the issue price of Rs 105.
Shares of Prostarm Info Systems Ltd. ended Tuesday's trading session stuck in a 20% upper circuit at Rs 126 apiece on the National Stock Exchange. The stock closed on the BSE at a 20.05% high, at Rs 126.05 per share.
Prostarm's shares had debuted on the BSE at Rs 125, at a 19.05% premium above the issue price of Rs 105. The stock had listed on the National Stock Exchange at Rs 120 apiece, marking a premium of 14.29%.
The maiden offer, which closed on May 29, was subscribed 97.2 times. The Rs 168-crore offering consisted entirely of a fresh issue of equity shares with no offer-for-sale component. Bids were led by institutional investors (1.93 times), retail investors (6.46 times) and non-institutional investors (20.21 times).
Prostarm Business
The company is an integrated power solution company, especially in UPS system lithium-ion battery packs, third-party power solution products, among others.
Prostarm Info Systems caters to a range of industries, including healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil and gas.
It manufactures several power solution products under the Prostarm brand, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers.
It operates three manufacturing facilities in Maharashtra. The company catered to over 700 clients during financial year 2024, including players such as Larsen & Toubro Ltd, Tata Power Co. and Bajaj Finance Ltd.
