Prostarm Info Systems IPO Day 2 update: Subscription rises 7x, GMP at 18%

Prostarm Info Systems IPO Subscription Status: The initial public offering (IPO) of Prostarm Info Systems, which opened for public subscription on Tuesday, May 27, has received a favourable response from investors. The NSE data suggests that the ₹168 crore offering of Prostarm Info Systems received bids for 8,03,50,842 shares, against 1,12,00,000 shares on offer, resulting in a subscription of 7.17 times as of 12:09 PM on Wednesday, May 28.

 

Among the investor categories, retail investors led the demand by oversubscribing the category reserved for them by 8.25 times. This was followed by Non-Institutional Investors (NIIs), who bid for 14.08 times, and Qualified Institutional Buyers (QIBs), for 0.12 times.

Prostarm Info Systems IPO details

The public offering is a book-built issue, which comprises an entirely fresh issue of 16 million equity shares. Prostarm Info Systems IPO is available at a price band of ₹95–105 per share, and a lot size of 142 shares. Thus, investors can bid for a minimum of 142 shares of Prostarm Info Systems IPO and in multiples thereof.

 

To bid for one lot or 142 shares of Prostarm Info Systems IPO, a retail investor would require a minimum of ₹14,910, taking the upper end of the IPO price into consideration. A retail investor can bid for a maximum of 13 lots or 1,846 shares, amounting to ₹1,93,830.

Prostarm Info Systems IPO grey market premium (GMP)

The unlisted shares of Prostarm Info Systems were commanding a muted premium in the grey market on the second day of its subscription window. Sources tracking unofficial market activities revealed that Prostarm Info Systems shares were seen trading at around ₹124 per share, reflecting a grey market premium (GMP) of ₹19 or 18.10 per cent over the upper end of the issue price.  ALSO READ | Neptune Petrochenicals IPO Day 1 update; check subscription, GMP, key dates

Prostarm Info Systems IPO review

The company has received favourable reviews from the brokerages for its public offering. Anand Rathi Research Team, and Bajaj Broking have recommended subscribing to the issue for a long-term perspective. READ MORE

Prostarm Info Systems IPO allotment date, listing date

The three-day subscription window to bid for the public offering is set to conclude on Thursday, May 29, 2025. Following the closure of the subscription window, the basis of allotment of Prostarm Info Systems IPO shares is likely to get finalised on Friday, May 30, 2025, with shares getting credited into demat accounts by Monday, June 2, 2025.

 

Shares of Prostarm Info Systems are set to make their D-Street debut on Tuesday, June 3, 2025, by listing on the BSE and NSE.

Prostarm Info Systems IPO objective

The company intends to utilise the proceeds from the fresh issue towards funding working capital requirements, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company, and for achieving inorganic growth through unidentified acquisitions and other strategic initiatives, and general corporate purposes.  ALSO READ | NR Vandana Textile IPO opens; check price band, lot size, GMP, key dates

Prostarm Info Systems IPO registrar, lead managers

For the public offering, KFin Technologies serves as the registrar, while Choice Capital Advisors is the sole book-running lead manager.

 

About Prostarm Info Systems

Incorporated in January 2008, 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. The company offers customised and standard products, produced in-house and through contract manufacturers. Additionally, they sell third-party batteries and provide reverse logistics, end-of-life disposal services for UPS systems and batteries, and other related products. The company also executes rooftop solar power plant projects in India on an EPC basis.