The initial public offer of Prostarm Info Systems received bids for 3,97,02,916 shares as against 1,12,00,000 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (27 May 2025). The issue was subscribed 3.54 times.
The issue opened for bidding on 27 May 2025 and it will close on 29 May 2025. The price band of the IPO is fixed between Rs 95 and 105 per share. An investor can bid for a minimum of 142 equity shares and in multiples thereof.
The Initial Public Offer comprises a fresh issue of up to 1,60,00,000 equity shares of Rs 10 each.
Of the net proceeds from the fresh issue of equity shares, about Rs 72.50 crore will be used to meet working capital requirements, Rs 17.96 crore for repayment/prepayment in full or in part of certain outstanding borrowings, and the balance for general corporate purposes. Total outstanding as of 31 March 2025, stood at Rs 66.92 crore.
Ahead of the IPO, Prostarm Info Systems on Monday, 26 May 2025, raised Rs 50.40 crore from anchor investors. The board allotted 48,00,000 shares at Rs 105 each to 8 anchor investors.
Prostram Info Systems, founded in 2008, is a power solutions provider specializing in UPS systems, inverters, lithium-ion battery packs, and solar EPC projects. The company designs, manufactures, and assembles products in-house and via partners in India and China.
It serves sectors like healthcare, IT, defense, and energy through direct sales and a nationwide distributor network. Prostram operates three units in Maharashtra and has strengthened its tech capabilities through strategic acquisitions and licensing agreements.
The firm reported a consolidated net profit of Rs 22.93 crore and total income of Rs 268.63 crore for the nine months ended on 31 December 2024.