Thu May 29 04:20:00 UTC 2025: **News Article:**

**Prostarm Info Systems IPO Closes Strong, Oversubscribed 12.65 Times**

Mumbai – The initial public offering (IPO) of Prostarm Info Systems, a leading provider of integrated power solutions, concluded today with significant investor interest, being oversubscribed 12.65 times. The ₹168-crore IPO, with a price band of ₹95-105 per share, attracted bids for 14,17,03,220 shares against the 1,12,00,000 shares on offer, according to data from the Bombay Stock Exchange (BSE).

Retail investors showed strong participation, with their portion being subscribed 13.04 times. The non-institutional investors (NII) category was oversubscribed by an impressive 27.23 times, while the qualified institutional buyers (QIBs) portion was booked 1.03 times.

Prostarm Info Systems specializes in manufacturing and supplying a wide array of power solutions, including UPS systems, lithium-ion batteries, and solar hybrid inverters, catering to diverse sectors such as healthcare, aviation, BFSI, and renewable energy. The company operates three manufacturing plants in Maharashtra and serves over 700 clients, including industry giants like Larsen & Toubro, Tata Power, and Bajaj Finance.

Market analysts have expressed positive sentiments regarding the IPO. Gaurav Garg from Lemonn Markets Desk noted the company’s attractive valuation compared to its peers and its potential to capitalize on the growing power backup and clean energy sector in India. Canara Bank Securities highlighted Prostarm’s strategic position in the energy storage and backup systems market, aligning with the increasing demand for its products.

The IPO proceeds will be used for capital expenditure (₹72.50 crore), debt repayment (₹17.95 crore), and inorganic growth initiatives, including potential acquisitions.

The basis of allotment is expected to be finalized on Friday, May 30, with refunds initiated the same day. Shares will be credited to demat accounts on Monday, June 2, and the listing on BSE and NSE is tentatively scheduled for Tuesday, June 3.

Currently, the grey market premium (GMP) for Prostarm Info Systems stands at ₹24, suggesting a potential listing price of ₹129 per share, a 22.86% premium over the upper end of the IPO price band.

Choice Capital Advisors served as the lead manager for the book, and Kfin Technologies Ltd is the registrar for the offering. Analysts recommend investors with a medium to long-term perspective to subscribe to the IPO, citing the company’s strong fundamentals and favorable industry outlook.

Read More