Prostarm Info Systems IPO to open on May 29; check price band & other key details

Prostarm Info Systems Limited has set the price band for its upcoming initial public offering (IPO) at Rs 95-105 per equity share. The subscription for this IPO will open on May 27, 2025, and conclude on May 29, 2025. The company aims to raise Rs 168 crore through this offering, which includes a fresh issue of up to 1.6 crore equity shares. The face value of each share is Rs 10. The anchor investor portion will open a day earlier, on May 26, 2025.

The IPO will comprise allocations for various investor categories. Up to 48 lakh equity shares are reserved for anchor investors. Non-Institutional Investors (NII) will have access to up to 24 lakh shares, while Qualified Institutional Buyers (QIBs) are allocated up to 32 lakh shares post-anchor allocation. Retail Individual Investors (RII) have been allotted up to 56 lakh shares.

Prostarm Info plans to allocate Rs 72.50 crore towards capital funding. Additionally, Rs 17.95 crore will go towards the repayment or prepayment of existing borrowings. The remaining funds will be used for acquisitions and strategic initiatives aimed at inorganic growth.

In terms of financial performance, Prostarm Info reported a revenue of Rs 268.62 crore and a profit of Rs 22.10 crore for the first nine months ending December 2024. For the fiscal year ending March 31, 2024, the company posted revenues of Rs 257.87 crore and a profit of Rs 22.79 crore.

The offering is being managed by Choice Capital Advisors Private Ltd, which serves as the Book Running Lead Manager, while KFIN Technologies Ltd is the Registrar. Prostarm Info intends to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The company, an integrated power solution provider, manufactures various products including UPS systems, lithium-ion battery packs, and solar hybrid inverter systems. It also undertakes turnkey solar photovoltaic power plant projects. The company, promoted by Ram Agarwal in 2008, operates three manufacturing facilities in Maharashtra and maintains a network of 21 branch offices across 18 states and one Union Territory.

Prostarm Info Systems caters to a wide range of industries, including healthcare, aviation, renewable energy, and information technology. The company has established itself as a reliable vendor for major clients like Larsen & Toubro (L&T) Ltd, Tata Power Co Ltd, and Bajaj Finance Ltd.