The public issue of Prostarm Info Systems Ltd continues to receive overwhelming investor interest, clocking an impressive 9.08 times overall subscription by mid-day on the second day of bidding, May 28, 2025.
According to data from the National Stock Exchange (NSE) as of 1:51 PM, the IPO received bids for approximately 10.16 crore shares, far exceeding the 1.12 crore shares on offer. This signals strong investor confidence in the Pune-based power solutions company, which has been operational since 2008.
Retail and Non-Institutional Investors Lead the Charge
Investor enthusiasm was led by non-institutional investors (NIIs), whose segment was subscribed a robust 17.55 times. The retail individual investors (RIIs) were not far behind, subscribing 10.11 times of their allotted quota.
On the other hand, Qualified Institutional Buyers (QIBs), who typically make significant bids on the final day, had subscribed 0.92 times by mid-Day 2—signaling more action to come from institutional players.
Day 1 Recap: Strong Retail Buzz
The IPO opened on May 27 with a price band of ₹95–₹105 per share and had already witnessed over 3.5 times subscription by the end of Day 1. Bids poured in for nearly 3.98 crore shares against the 1.12 crore available, led again by retail and NII participation.
While retail investors subscribed 4.15 times, the NII segment stood at 6.83 times. However, QIB participation on Day 1 remained muted at 0.05 times, a usual trend for institutional investors who often wait until the final day.
IPO Details: Fresh Issue and Use of Funds
Prostarm’s IPO is a fresh issue of 1.6 crore equity shares, aimed at raising around ₹168 crore. The minimum lot size is 142 shares, making it accessible for a wide range of investors.
Here’s how the company plans to utilize the proceeds:
- ₹72.5 crore for capital expenditure
- ₹17.95 crore for debt repayment
- The remaining amount for acquisitions, strategic expansion, and general corporate use
Anchor Investment Round: Big Names, But No Mutual Funds
Before opening to the general public, Prostarm raised approximately ₹50.4 crore from anchor investors, including Chhattisgarh Investment Ltd, Astrone Capital VCC ARVEN, Vikasa India, and Swyom India Alpha Fund. Interestingly, domestic mutual funds did not participate in the anchor round.
Allotment, Listing & Registrar Details
- IPO closes: Wednesday, May 29, 2025
- Allotment finalization: Expected on May 30, 2025
- Demat credit: Shares will be credited by June 2, 2025
- Listing date: June 3, 2025, on both BSE and NSE
The IPO is being managed by Choice Capital Advisors as the Book Running Lead Manager (BRLM), while KFin Technologies is handling the registrar responsibilities.
About Prostarm Info Systems
Established in 2008, Prostarm Info Systems is a fast-growing player in the power solutions segment, offering a portfolio that includes:
- UPS systems
- Inverters
- Lithium-ion battery packs
- Turnkey solar EPC projects
The company caters to a wide array of sectors including healthcare, defence, aviation, education, and renewable energy. Its products are manufactured under its proprietary brand and supported by a strong service network across India.
Financial Snapshot
For the nine-month period ending December 2024, Prostarm recorded:
- Revenue: ₹268.63 crore
- Net Profit: ₹22.93 crore
These numbers reflect a strong growth trajectory as the company capitalizes on India’s growing energy needs and digital transformation in mission-critical sectors.
With solid fundamentals, a diversified product line, and robust demand in its IPO, Prostarm Info Systems is emerging as a noteworthy player in the power infrastructure and energy solutions space. As Day 3 approaches, all eyes will be on how institutional investors respond in what is shaping up to be a blockbuster listing on the Indian bourses.
