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

Prostarm Info Systems IPO: Subscription

The initial share sale, with a price band of ₹95 to ₹105 per equity share, received bids for 1,08,86,41,296 equity shares against 1,12,00,000 shares on offer, leading to a total subscription of 97.2 times.

Non-institutional investors (NIIs) booked their portion 222.14 times, while qualified institutional buyers (QIBs) quota fetched 104.49 times. The category for retail investors was subscribed 39.49 times.

Prostarm Info Systems IPO: Objectives

The initial public offer is a fresh issuance of 1.6 crore shares, aggregating to ₹168 crore. There is no offer-for-sale component.

Objects of the issue include:

• Funding working needs
• Repayment of certain borrowings availed by the company
• Boost inorganic growth by acquisitions and strategic initiatives
• General corporate purposes

Prostarm Info Systems IPO: Listing date and time

The listing of Prostarm Info Systems shares on the BSE (formerly Bombay Stock Exchange) and the National Stock Exchange (NSE) will occur on Tuesday, June 3, at 10 am.

Prostarm Info Systems IPO: Financials

In the financial year 2023-24 (FY24), the company reported an 11.56% increase in its revenue from operations to ₹259.23 crore compared to ₹232.35 crore in the previous fiscal year.

The company's net profit was ₹22.8 crore in FY24 as against ₹19.35 crore in FY23.

Prostarm Info Systems manufactures and sells energy storage and power conditioning equipment, including UPS systems, solar hybrid inverters, inverter systems and voltage stabilisers.