Prostarm Info Systems shares make strong D-Street debut; list at 19% premium
Shares of Prostarm Info Systems made a strong entry on Dalal Street on Tuesday. The stock listed at Rs 125 on the BSE, which was 19.04% higher than its issue price of Rs 105. On the NSE, the stock opened at Rs 120, marking a 14.28% premium over its issue price.The listing was better than expected, as the grey market premium (GMP) before trading on June 3 had indicated an expected gain of around 11%.Prostarm Info Systems, founded in 2008, is involved in the design, production, and sale of energy storage and power management equipment. The company's products include UPS systems, inverter systems, solar hybrid inverters, lithium-ion battery packs, and voltage stabilisers. With a wide range of products, the company is part of the growing energy equipment sector in India.IPO DETAILS AND INVESTOR RESPONSEThe company's initial public offering (IPO) was open for subscription from May 27 to May 29, 2025. The IPO received a strong response from investors and was subscribed 96.68 times in total.In the retail category, the IPO was subscribed 39.48 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 102.67 times, while the Non-Institutional Investors (NIIs) category received 222.13 times subscription. This shows that investors from all categories were keen on the offering.The price band for the Prostarm Info Systems IPO was fixed at Rs 105 per share. For retail investors, the minimum application was one lot of 142 shares, which came to Rs 13,490. However, considering most retail investors applied at the cutoff price, the final investment went up to Rs 14,910 for one lot.For small NIIs (sNIIs), the minimum bid size was 14 lots or 1,988 shares, amounting to Rs 2,08,740. Large NIIs (bNIIs) had to apply for at least 68 lots or 9,656 shares, which required an investment of Rs 10,13,880.The allotment of shares for the IPO was completed on Friday, May 30, 2025. Successful applicants had the shares credited to their demat accounts ahead of the listing day.
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