Prostarm Info Systems Shares List At 19% Premium Over IPO Price On Dalal Street
Shares of Prostarm Info Systems Ltd. debuted on the BSE at Rs 125, at a 19.05% premium above the issue price of Rs 105. The stock listed on the National Stock Exchange at Rs 120 apiece, marking a premium of 14.29%.
Prostarm Info Systems' IPO, which closed on May 29, was subscribed to 97.2 times, with demand led by non-institutional investors. The Rs 168-crore offering consisted entirely of a fresh issue of equity shares with no offer-for-sale component.
Investors had bid for a minimum of 142 equity shares and in multiples of 142 thereafter. The book-running lead managers for the issue include Choice Capital Advisors Pvt. and KFin Technologies, which will serve as the registrar for the IPO.
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.
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