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

Prostarm Info Systems IPO: Integrated power solution company Prostarm Info Systems' initial share sale has been subscribed 11.41 times so far on the second day of bidding on Wednesday, May 28.

The ₹168-crore initial public offer got bids for 12,77,62,370 shares against 1,12,00,000 equity shares on offer, as per the data on stock exchanges until 4:05 pm.

The part for non-institutional investors received 23.15 times the subscription, with bids for 5,55,94,988 shares as against 24,00,000 shares on offer.

The category for retail investors received bids for 6,89,60,028 shares compared to 56,00,000 shares reserved, booking their portion 12.31 times.

The qualified institutional buyers (QIBs) subscribed to their portion 1.00 times with bids for 32,07,354 shares against the allocation of 32,00,000 shares.

Prostarm Info Systems IPO: 10 key things to know

• Prostarm Info Systems IPO subscription period: The issue is live from May 27 to May 29.
• IPO offer structure: It is solely a fresh issue of 1.6 crore shares aggregating to ₹168 crore. There is no offer-for-sale (OFS) component.
• Prostarm Info Systems IPO price range: The price band has been set at ₹95 to ₹105 per share.
• Prostarm Info Systems IPO lot size: The application size is 142 shares, needing a minimum investment of ₹13,490.
• Objectives: The proceeds from the issue will be used for working capital requirements, repayment of outstanding borrowings and general corporate purposes.
• Book-running lead manager: Choice Capital Advisors Pvt Ltd is the book-running lead manager.
• Registrar: KFin Technologies is the registrar.
• Prostarm Info Systems IPO allotment date: The allotment is expected to be finalised on May 30.
• Listing date: The listing on the BSE and the NSE will occur on June 3.
• Promoter holding: The company's promoters Vikas Shyamsunder Agarwal, Ram Agarwal and Sonu Ram Agarwal hold a 100% stake, which will be reduced to 72.82% post-issue.