Prostarm Info Systems Ltd’s initial public offering (IPO) continued to witness robust investor demand on Day 2, with an overall subscription of 10.02 times as of 2:51 pm, according to NSE data. The issue received bids for approximately 11.22 crore shares against 1.12 crore shares on offer.
The non-institutional investor (NII) segment led the demand, subscribing 19.64 times, while the retail individual investor (RII) portion was subscribed 11.09 times. The Qualified Institutional Buyers (QIBs), who generally participate more actively on the final day, have so far subscribed 0.94 times of their allocated quota.
Prostarm Info Systems IPO: Day 1
Prostarm Info Systems’ IPO, which opened with a price band of Rs 95–Rs 105 per share, saw strong traction on Day 1 (May 27), with the issue subscribed over 3.5 times by the end of the first day of bidding. The surge was driven largely by retail and non-institutional investors.
As per exchange data for May 27, the IPO received bids for approximately 3.98 crore shares against an offer size of 1.12 crore shares. The retail portion was subscribed 4.15 times, while the NII category was oversubscribed 6.83 times. The QIB segment remained largely muted on Day 1 with a subscription of just 0.05 times.
The public offering is a fresh issue of 1.6 crore shares worth Rs 168 crore, with a minimum lot size of 142 shares. The IPO will conclude on May 29.
Prostarm Info Systems IPO: Allocation and key managers
The IPO allocation is divided into 50 percent reserved for QIBs, 35 percent for retail investors, and 15 percent for non-institutional investors. Choice Capital Advisors had been appointed as the BRLM, while KFin Technologies has been entrusted with handling registrar activities.
Prostarm Info Systems IPO: Allotment & listing dates
The basis of allotment is expected to be finalized on the following day, Friday, May 30, 2025, while shares will be credited to investors’ demat accounts by Monday, June 2, 2025. Prostarm Info Systems shares are set to arrive at stock exchanges on Tuesday, June 3, 2025, for listings on the BSE and NSE.
What will the funds be used for?
Rs 72.5 crore has been planned to be diverted for capital expenditure and Rs 17.95 crore will be used to repay existing borrowings. The remainder of the money will be used for acquisitions, strategic growth initiatives, and general corporate purposes.
Prior to the IPO’s opening to the public for the subscriptions, Prostarm had raised approximately Rs 50.4 crores from anchor investors, including Chhattisgarh Investment Ltd, Astrone Capital VCC ARVEN, Vikasa India, and Swyom India Alpha Fund. Domestic mutual funds did not, however, participate in the anchor round.
Prostarm Info Systems overview
Founded in 2008, Prostarm is a power solutions company that specialises in UPS systems, inverters, lithium-ion battery packs, and solar EPC projects. It serves a range of industries including healthcare, aviation, defence, education, and renewable energy. The company manufactures products under its own brand and also offers turnkey solar projects and maintenance services.
For the nine months ending December 2024, Prostarm reported a net profit of Rs 22.93 crore on a revenue of Rs 268.63 crore.
