Prostarm Info Systems IPO subscribed 97x; Scoda Tubes offer booked 8.11x

The initial public offering (IPO) of Prostarm Info Systems garnered subscription of 97 times, generating bids worth over ₹11,000 crore. The qualified institutional buyers (QIBs) portion of the IPO was subscribed 104x, high networth individual 222x and retail nearly 40x.  Through the IPO, Prostarm raised ₹168 crore in fresh capital. The company is an integrated power solution provider, especially in UPS system lithium-ion battery packs and third-party power solution products, among others. It caters to a range of industries, including healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology, and oil & gas. 

Scoda Tubes public offer booked 8.11x on Day 2  

The initial public offering (IPO) of stainless-steel tubes and pipes manufacturer Scoda Tubes fetched 8.11 times subscription on the second day of bidding on Thursday. Investors booked 96,085,200 shares against 11,846,169 shares on offer, according to NSE data. The category for non-institutional investors attracted 20.21 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 6.46 times.  The portion for qualified institutional buyers (QIBs) received 1.93 times subscription. Scoda Tubes on Tuesday raised ₹66 crore from anchor investors. The Gujarat-based company’s IPO is entirely a fresh issue of equity shares, aggregating up to ₹220 crore with no offer for sale (OFS) component.