Prostarm Info Systems share price: Stock lists at over 14% premium on NSE; here's how much investors made per lot

The stock listed at ₹120 apiece on the National Stock Exchange (NSE), a premium of 14.29% over the issue price of ₹105 per share.

After listing, it advanced 2.5% to ₹123 apiece on the NSE at 10:12 am.

On the BSE, it debuted at a 19% premium at ₹125 per unit.

Prostarm Info Systems share price: Here's how much investors made per lot

A lot, consisting of 142 shares, cost ₹14,910. Investors who received Prostarm Info Systems IPO allotments made ₹17,040 per lot (142 x 12).

The ₹168 crore initial share sale, with a price band of ₹95 to ₹105 per share, was a fresh issue of 1.60 crore equity shares with no offer-for-sale (OFS) component.

The funds raised will be utilised for working capital requirements, repay certain borrowings, grow inorganically and serve corporate general purposes.

The IPO, which was subscribed 97.2 times, received bids for 1,08,86,41,296 shares against 1,12,00,000 equity shares on offer. Non-institutional investors (NIIs) led the demand, subscribing their part 222.14 times, while qualified institutional buyers (QIBs) portion attracted 104.49 times subscription.

The retail investors subscribed 39.49 times the quota reserved for them.

Prostarm Info Systems designs, manufactures and sells energy storage systems and power conditioning equipment such as inverters, UPS systems, servo-controlled voltage stabilisers and lithium-ion battery packs.