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Prostarm Info Systems shares list at 19% premium to IPO priceProstarm Info Systems IPO Listing: About ₹72.5 crore of the issue proceeds will be used for its working capital requirements, and ₹18 crore for repaying debt. Further, ₹9 crore will be used for acquisition of further stake of subsidiary to make it a wholly owned subsidiary, and the remaining funds for inorganic growth, and general corporate purposes.By Meghna Sen   June 3, 2025, 9:55:42 AM IST (Published)2 Min ReadThe shares of Maharashtra-based power solutions products maker, Prostarm Info Systems, listed with a premium of 19% on the bourses on Tuesday, June 3. The stock debuted at ₹125 on BSE over the issue price of ₹105, while it listed at ₹120, up 14.29% on NSE.

Ahead of its debut, the latest grey market premium (GMP) for the Prostarm Info Systems IPO stood at ₹12. Based on the IPO's price band of ₹105, the estimated listing price stood at a premium of 11.43%.

The ₹168-crore initial public offering (IPO) of Prostarm Info Systems was open for subscription between May 27 and May 29.

The Maharashtra-based company sold its shares in a fixed price range of ₹95 to ₹105 to raise funds through an entirely fresh issue of 1.6 crore equity shares.

About ₹72.5 crore of the issue proceeds will be used for its working capital requirements, and ₹18 crore for repaying debt.

Further, ₹9 crore will be used for acquisition of further stake of subsidiary to make it a wholly owned subsidiary, and the remaining funds for inorganic growth, and general corporate purposes.

The Agarwal family-owned power electronics solutions competes with listed peers such as Servotech Power System, and Sungarner Energies.

Prostarm Info Systems specialises in designing, manufacturing, and selling Energy Storage and Power Conditioning Equipment, known as "Power Solution Products."

The company manufactures various Power Solution Products, including UPS systems, inverter systems, solar hybrid inverter systems, lithium-ion battery packs, and voltage stabilisers.

Net profit in the FY24 rose 18% to ₹22.8 crore, compared to ₹19 crore in the previous year. Revenue surged 12% to ₹258 crore during the same period, while EBITDA for the year ended March 2024 climbed 29.8% to ₹35 crore. Margins expanded by 190 basis points to 13.7%, compared to previous fiscal 2023.

Choice Capital Advisors was the book-running lead manager of the Prostarm Info Systems IPO, while Kfin Technologies was the registrar for the issue.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIPO