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Prostarm Info Systems Ltd made a strong debut on the stock exchanges on Tuesday, listing at a premium of 19.05 per cent over its issue price following robust investor interest. The stock opened at Rs 125 per share on the BSE and Rs 120 on the NSE, against the IPO price of Rs 105.

The Rs 168-crore initial public offering (IPO) of Prostarm Info Systems was entirely a fresh issue comprising 1.60 crore equity shares, priced at Rs 105 apiece.

The IPO opened for subscription on May 27 and closed on May 29. Allotments were finalised on May 30, with the stock getting listed today, June 3, on both BSE and NSE. On its final day of bidding,the IPO was subscribed 97.20 times overall, according to BSE data. Investors had applied for 108.86 crore shares against the 1.12 crore shares on offer. The non-institutional investor (NII) category led the surge, subscribing 222.13 times, followed by qualified institutional buyers (QIBs) at 104.49 times, and retail individual investors (RIIs) at 39.49 times.

Of the total IPO size, 50 per cent was allocated to QIBs, 35 per cent to retail investors, and 15 per cent to NIIs. Choice Capital Advisors acted as the book-running lead manager for the issue, while KFin Technologies served as the registrar.

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