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Prostarm Info Systems IPO

96.38xsubscribed

Prostarm Info Systems IPO

96.38xsubscribed

Power Generation/Distribution

listed

₹13,490Min. investment

Prostarm Info Systems Limited IPO Details

Sector

Power Generation/Distribution

Issue size

₹168Cr

IPO type

Mainboard

Market cap

₹618.18CrLower than sector avg

Price range

₹95.00 – ₹105

Listing exchange

BSE, NSE

RevenueApr 2023 - Mar 2024

₹257.87CrLower than sector avg

Listing date

3 Jun 2025

Lot size

142 shares

Red Herring Prospectus

Read

Growth rate3Y CAGR

22.69%Higher than sector avg

SectorPower Generation/Distribution

Price range₹95.00 – ₹105

IPO type

Regular

Lot size142 shares

Issue size₹168Cr

Red Herring Prospectus

Read

Market cap

₹618.18CrLower than sector avg

RevenueApr 2023 - Mar 2024

₹257.87CrLower than sector avg

Growth rate3Y CAGR

22.69%Higher than sector avg

Prostarm Info Systems IPO Subscription Status

Date	QIB	NII	Retail	Total
27-May-25	0.05 times (X)	6.81 times (X)	4.19 times (X)	3.57 times (X)
28-May-25	1.03X	27.05X	13.12X	12.65X
29-May-25	104.49X	220.19X	38.69X	96.38X

As on 27-May-25, 5:30 PM

Prostarm Info Systems IPO Timeline

Pre-apply
23 May
Bid start
27 May
Bid end
29 May
Allotment
30 May
Release of funds
2 Jun
Demat transfer
2 Jun
Listing
3 Jun

Pre-apply
23 May 2025
Bid start
27 May 2025
Bid end
29 May 2025
Allotment
30 May 2025
Release of funds
2 Jun 2025
Demat transfer
2 Jun 2025
Listing
3 Jun 2025

About Prostarm Info Systems Limited

Incorporated in 2008, Prostarm Info Systems is engaged in the design, manufacturing, assembly, sale, and service of a wide range of energy storage and power conditioning equipment in India.

Its core portfolio includes UPS systems, inverters (including lift and solar hybrid variants), lithium-ion battery packs, servo-controlled voltage stabilisers (SCVS), isolation transformers, and other power solution products. These solutions are offered in both standard and customised formats, manufactured in-house as well as through third-party contract manufacturers.

Prostarm Info Systems Limited IPO Analysis

IPO REVIEW

Prostarm Info Systems IPO | Analysis Video

Should you apply?

Watch our analysts break down the Prostarm Info Systems Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis

Revenue growth

Company valuation

Earnings expansion

Risk analysis

Debt to Equity ratio

Promoter holdings

Shares pledged

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Strong clientele

The company has built a strong customer base across multiple industries, including clients like PSU Banks, L&T, Tata Power, and Bajaj Finance. In FY24 they served over 700 customers, with 40% of customers retained over the past 3 years and 19% over 5 years.

Geographical presence across the country

The company operates through a geographical network of 21 branch offices and 2 storage facilities across 18 states and 1 union territory, supported by a dealer and distributor network that grew from 469 in FY22 to 478 in FY24. This distribution channel contributed between 23.68% and 42.11% of total revenue over the past 3 years.

Robust Financials

The company has demonstrated strong financial growth with a 22.69% CAGR in revenue from ₹171.30 crores in FY22 to ₹257.87 crores in FY24, alongside leading EBITDA, PAT margins, and improved ROA, ROE & ROCE compared to peers.

Diversified product portfolio

The company offers a range and continuously expanding product portfolios tailored to meet the power storage and conditioning needs of customers across industries such as healthcare, aviation, BFSI, railways, and renewable energy. Their focus on customisation and ongoing product innovation has helped establish them as a strong power solutions provider.

Experienced management

The company is led by an experienced senior management team with industry expertise and a strong network, supported by a committed workforce of 423 permanent and 19 contractual employees.

Reduced dependence on suppliers

The company has expanded from third-party sales to in-house manufacturing with 3 units in Maharashtra, enhancing control over production and reducing supplier dependence.

Litigation risks

The company is contesting a show cause notice alleging wrongful customs duty exemption claims on UPS imports, supported by legal precedents affirming their eligibility for exemption. While the matter is under dispute and provisional relief has been granted, any adverse ruling could materially impact the company’s financial condition and operations.

High concentration in revenue

The company’s revenue is highly concentrated among top 10 (71.8% of revenue) & 5 (59.9% of revenue) key customers as of 9MFY25, and loss or reduced business from any of them could materially impact its financial performance and operations.

Heavy reliance on third-party dealers

The company relies heavily on a broad network of third-party dealers and distributors for sales and distribution across India, but lacks long-term contracts; their top 10 dealers and distributors comprise 9.29% of revenue as of 9MFY25.

High Supplier concentration

The company is highly dependent on a network of domestic and international suppliers, primarily from India and China, for critical materials and components; its top 10 suppliers comprise 87.02% of revenue as of 9MFY25, making its operations vulnerable to supply disruptions, price volatility, and quality issues.

Employer litigation pending

The company has received show cause notices from regulatory authorities, including the Registrar of Companies and the Employee’s Provident Fund Organisation, relating to delays in statutory filings and information submissions, with some dues pending settlement.

Negative operating cashflow

The company has incurred negative operating cash flows in FY23 and FY24, amounting to ₹13.50 crore and ₹7.80 crore, respectively, due to rising working capital needs, increased inventories, and higher trade receivables from government projects, alongside capital investments.

Probable adversities in UPS systems

A significant portion of the company’s revenue is derived from sales of its UPS systems and third-party power solution products, and any decline in demand for these products could materially impact its business, financial condition, and cash flows.

Litigation risks

The company and its key personnel are involved in ongoing legal proceedings, and any adverse outcomes could negatively impact its financial condition, reputation, and business operations.

Underutilisation of capacities

The company’s manufacturing capacities are currently underutilised, and failure to improve utilisation or increase demand could negatively impact its financial performance and business prospects.

Regulatory overhang

The company depends on obtaining and renewing various licences and approvals, and any failure to secure or maintain these could disrupt operations.

Contingency risks

The company’s growth through acquisitions exposes it to risks related to integration challenges, unforeseen costs, and potential failure to achieve expected benefits, which could adversely affect its business.

Objectives of Prostarm Info Systems Limited IPO

General corporate purposes

46.30%

Part of the IPO proceeds will be used for general corporate purposes and strategic initiatives.

Working Capital requirements

43.10%

The company will allocate ₹72.50 crore of net proceeds to working capital.

Repayment/Prepayment of certain borrowings

10.60%

The company will use ₹17.96 crore of net proceeds for debt repayment.

Compare

Companies in this sector

NTPC Ltd

Power Grid Corporation of India Ltd

Adani Green Energy Ltd

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio

This IPO₹257.87Cr22.69%₹22.8Cr₹618.18Cr19.300.51

This sector (avg.)₹7,783.3Cr0.01%₹1,281.2Cr₹38,103.65Cr45.352.10

₹1,88,138.06Cr---₹20,251.23Cr₹3,45,201.3Cr14.281.36

₹45,792.32Cr---₹15,245.13Cr₹2,38,560.5Cr15.691.41

₹11,212Cr---₹1,557Cr₹1,40,388.8Cr98.956.59

*Revenue for financial year 2023-24. Lower P/E and D/E ratios are generally preferred.

Prostarm Info Systems IPO Contact Details

Company Name	Prostarm Info Systems Limited

Company NameProstarm Info Systems Limited

How to apply for Prostarm Info Systems IPO?

Step 1
Log in to your Upstox account to access IPO investments. Next, select the current IPO section.
Step 2
Specify IPO details. Enter the number of lots and the price you wish to apply for.
Step 3
Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4
Mandate Notification. Your UPI app will receive a mandate notification to block funds.
Step 5
Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Latest News on Prostarm Info Systems Limited IPO

Prostarm Info Systems sets IPO price band of ₹95-105 a share

Prostarm Info Systems IPO to open on May 27

Prostarm Info Systems IPO subscribed 11.41 times so far on day 2; 10 key things to know

2 min read

Prostarm Info Systems IPO subscribed over 81 times so far on day 3; here's how to check allotment status online

2 min read

Prostarm Info Systems IPO allotment finalised: How to check status online on KFin Technologies, BSE, NSE

3 min read

Prostarm Info Systems IPO Listing Date: Key things to know before debut on NSE, BSE

2 min read

Prostarm Info Systems Limited IPO FAQs

How to invest in the Prostarm Info Systems IPO ?

Investors can apply for the Prostarm Info Systems IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Prostarm Info Systems IPO ?

The issue size of the Prostarm Info Systems IPO is 168 Cr.

What is 'pre-apply' for Prostarm Info Systems IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Prostarm Info Systems IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.

What are the open and close dates of the Prostarm Info Systems IPO ?

Prostarm Info Systems IPO will be open between 2025-05-27 and 2025-05-29.

What is the allotment date for the Prostarm Info Systems IPO ?

Prostarm Info Systems IPO allotment date is 2025-06-02. For Prostarm Info Systems IPO allotment status check, you can visit the website of the registrar of the IPO.

Who is the registrar of Prostarm Info Systems IPO ?

For Prostarm Info Systems IPO, the IPO registrar is KFin Technologies Limited. You can check Prostarm Info Systems IPO allotment status on the website of the registrar.

Where is the Prostarm Info Systems IPO getting listed?

The shares are proposed to be listed on the BSE and NSE.

When will Prostarm Info Systems IPO shares be credited to your demat account?

The Prostarm Info Systems IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.

What is the lot size and minimum order quantity of the Prostarm Info Systems IPO ?

The Prostarm Info Systems IPO lot size is 142 and minimum order quantity is 142.

What is the price band for the Prostarm Info Systems IPO ?

Prostarm Info Systems IPO has set the price band for its IPO at 105 per equity share with a face value of 10.