Prostarm Info Systems shares list at ₹120 on NSE, a premium of 14.29% from IPO price

Prostarm Info Systems IPO listing: Shares of Prostarm Info Systems IPO made a strong debut on the bourses on Tuesday, June 3, listing at ₹120 on NSE, a premium of 14.29 percent over the issue price of ₹105. Meanwhile, on BSE, it debuted at ₹125, up 19 percent from issue price.

The IPO, valued at ₹168 crore, was open for subscription from May 27 to May 29.

The IPO concluded on an strong note, receiving bids amounting to 96.68 times the shares on offer over the three-day bidding period. A total of 108.27 crore shares were bid for, compared to the 1.12 crore shares available. The retail investor portion was subscribed 39.42 times, while the non-institutional investor (NII) category saw a subscription of 222.13 times. Meanwhile, the Qualified institutional buyers (QIBs) portion was booked 102.67 times.

Prostarm Info Systems IPO was a completely fresh issue comprising 1.6 crore shares, with no offer-for-sale component. The minimum application size was set at 142 shares, requiring a minimum investment of ₹14,910 from retail investors.

According to Prostarm Info Systems’ Draft Red Herring Prospectus (DRHP), the company plans to allocate ₹72.5 crore from the IPO proceeds towards the repayment of certain outstanding borrowings. Additionally, ₹18 crore is earmarked for funding capital expenditure. A portion of the raised funds will also be directed towards pursuing inorganic growth opportunities through potential acquisitions and other strategic initiatives, yet to be identified.

The Prostarm Info Systems IPO had seen Choice Capital Advisors Pvt Ltd take charge as the lead book-running manager, with Kfin Technologies Limited handling the registrar responsibilities for the public offer.

Prostarm Info Systems Limited, established in January 2008, is an Indian enterprise engaged in the development, production, and distribution of energy storage and power conditioning solutions, collectively known as "Power Solution Products."

The company’s product portfolio includes a wide range of power-related systems such as uninterruptible power supplies (UPS), inverter systems, solar hybrid inverters, lithium-ion battery packs, and voltage stabilisers.

Prostarm offers both customised and standard solutions, manufactured either in-house or via contract manufacturing. In addition to its core offerings, the company also distributes third-party batteries and provides services like reverse logistics and end-of-life disposal for UPS systems and batteries. It is also involved in executing rooftop solar power plant projects across India on an EPC (Engineering, Procurement, and Construction) basis.

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