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**Summary:**

Prostarm Info Systems, an integrated power solutions provider specializing in UPS systems and lithium-ion battery packs, is launching its IPO on May 27th. The company serves diverse sectors and manufactures its products in three Maharashtra-based plants. They plan to use the IPO proceeds for capital expenditure, debt repayment, and strategic acquisitions. The IPO price band is set at ₹95 to ₹105 per share, with a lot size of 142 shares. The IPO closes on May 29th, with listing expected on June 3rd.

**News Article:**

**Prostarm Info Systems Launches IPO Targeting Growth in Power Solutions Market**

**Mumbai, May 26, 2024** – Integrated power solutions provider Prostarm Info Systems Ltd. is set to launch its initial public offering (IPO) on Tuesday, May 27th, aiming to tap into the growing demand for UPS systems and lithium-ion battery packs across various sectors. The IPO will remain open for subscription until Thursday, May 29th.

Prostarm offers a comprehensive range of power solutions under its brand, including UPS systems, inverters, battery packs, and voltage stabilizers. The company caters to a diverse clientele spanning healthcare, aviation, BFSI, railways, and more. In fiscal year 2024, Prostarm served over 700 customers, including prominent names like Larsen & Toubro, Tata Power, and Bajaj Finance.

The IPO price band is fixed at ₹95 to ₹105 per equity share, with a face value of ₹10. Investors can apply in lots of 142 shares. The company plans to utilize ₹72.50 crore of the IPO proceeds for capital expenditure to meet the company’s capital needs, ₹17.95 crore for debt repayment, and the remaining funds for inorganic growth through acquisitions and other strategic initiatives.

According to the company’s Red Herring Prospectus (RHP), Prostarm reported a revenue of ₹268.62 crore and a profit after tax (PAT) of ₹22.10 crore for the first nine months of fiscal year 2024.

Anchor investor allocation is scheduled for today, May 26th. The IPO consists entirely of a fresh issue of 1,60,00,000 equity shares, with no offer for sale (OFS) component.

The allocation of shares is expected to be finalized on May 30th, with refunds initiated the same day. Shares are anticipated to be credited to demat accounts on June 2nd, and listing on BSE and NSE is tentatively scheduled for June 3rd.

Choice Capital Advisors Pvt Ltd is serving as the book-running lead manager, while Kfin Technologies Limited is the registrar for the IPO. The IPO reserves 50% of the shares for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.

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