Prostarm Info Systems IPO opens tomorrow: GMP, issue details, 10 key things to know
Prostarm Info Systems IPO: The initial public offering of the Integrated power solution company Prostarm Info Systems Ltd opens for subscription on tomorrow (Monday, May 26).
The company is a comprehensive provider of power solutions, particularly focusing on UPS systems and lithium-ion battery packs, along with various third-party power solutions. It serves a diverse array of sectors, which include healthcare, aviation, research, BFSI, railways, defense, security, education, renewable energy, information technology, and oil & gas.
Under the Prostarm brand, it produces various power solution products, including UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilizers, and isolation transformers.
The company runs three manufacturing plants located in Maharashtra. During the fiscal year 2024, it serviced over 700 customers, including notable companies such as Larsen & Toubro Ltd, Tata Power Co. Ltd, and Bajaj Finance Ltd.
From a financial perspective, the company achieved a revenue of ₹ 268.62 crore from operations and recorded a profit after tax (PAT) of ₹ 22.10 crore for the first nine months ending December 2024. For the fiscal year ending March 31, 2024, it reported a revenue of ₹ 257.87 crore and a PAT of ₹ 22.79 crore.
As per the Red Herring Prospectus (RHP), the company's listed peers are Servotech Renewable Power System (with a P/E of 243), and Sungarner Energies (with a P/E of 55).
Prostarm Info Systems IPO date: The issue opens for subscription on Tuesday, May 27 and closes on Thursday, May 29.
Prostarm Info Systems IPO price band: The IPO price band has been fixed in the range of ₹ 95 to ₹ 105 per equity share of face value of ₹ 10.
Prostarm Info Systems IPO lot size: The issue's lot size is 142 equity shares and in multiples of 142 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Prostarm Info Systems IPO is scheduled to take place today (Monday, May 26).
Prostarm Info Systems IPO details: The issue is completely a fresh issue of 1,60,00,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).
Prostarm Info Systems IPO objective: Prostarm Info Systems plans to allocate ₹ 72.50 crore of the total proceeds from the IPO for the company's capital needs, ₹ 17.95 crore for debt repayment, and the rest will be directed towards pursuing inorganic growth through unspecified acquisitions and other strategic initiatives, in addition to general corporate purposes.
Prostarm Info Systems IPO listing date and allotment details: Tentatively, Prostarm Info Systems IPO basis of allotment of shares will be finalised on Friday, May 30 and the company will initiate refunds on the same day, while the shares will be credited to the demat account of allottees on Monday, June 2. Prostarm Info Systems shares are likely to be listed on BSE and NSE on Tuesday, June 3.
Lead Manager and Registrar of Prostarm Info Systems IPO: Choice Capital Advisors Pvt Ltd serves as the book-running lead manager for the Prostarm Info Systems IPO, whereas Kfin Technologies Limited acts as the registrar for the offering.
Prostarm Info Systems IPO reservation: Prostarm Info Systems IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
Prostarm Info Systems IPO GMP today: Prostarm Info Systems IPO GMP today or grey market premium was ₹ 0, which meant shares were trading at their issue price of ₹ 105 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
7 hours ago
- Mint
‘Buy right, sell after…': Here's Reddit man's story of purchasing JSW shares in 1990s — Here's its worth today
A stock market investor and social media user named Sourav Dutta, in his platform X post on Saturday, 7 June 2025, shared a story of a Reddit man, who inherited JSW Steel shares, which are currently worth nearly ₹ 80 crore. In the post, Sourav Dutta cited a Reddit man who allegedly inherited JSW Steel shares from his father. The father reportedly purchased the stocks in 1990 for ₹ 1 lakh. Dutta said that now, as of the current market value, those shares are worth nearly ₹ 80 crore. 'Guy on Reddit discovered JSW shares bought by his dad in the 1990s for ₹ 1L (lakh),' said Dutta in his post. 'Worth ₹ 80 Cr (crore) today,' he said. The market investors highlighted the importance of purchasing a share at the correct time, holding it for the long term, and eventually selling it for a massive profit. 'Power of buy right, sell after 30 yrs,' said Dutta in his post on X. People on the social media platform X also agreed with Sourav Dutta's stance on buying and holding shares for a longer period for higher gains, compared to a shorter profit-booking strategy. 'Don't be in a rush to sell good businesses. If fundamentals are intact, let time do the heavy lifting. This is not just investing, this is legacy creation,' said a platform X account named @marketanalogy. 'Power of buy and forget?!' questioned a platform X user named @dhanapal13, to which Dutta clarified that people should 'Buy and Track' instead. Another user named Anhad Arora said, 'People don't realise how stock splits, bonuses and dividends add up overtime, it's magical.' JSW Steel shares closed 3.70 per cent higher at ₹ 1,004.50 after Friday's stock market session, compared to ₹ 968.65 at the previous market close. Since their listing in the Indian stock market in 1996, the Iron and Steel manufacturers' shares have given stock market investors a total of 4,865 per cent returns on their investment. The shares were trading under ₹ 20 apiece after their listing on the BSE in 1996. JSW Steel shares have given investors more than 430 per cent returns in the last five years and 9.70 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares have gained over 10 per cent in 2025, and are trading 2.56 per cent higher in the last five stock market sessions. The stock hit its 52-week high level at ₹ 1,074.15 on 25 March 2025, while the 52-week low level was at ₹ 854.35 on 5 August 2024, according to BSE data. The company's market capitalisation is at over ₹ 2.45 lakh crore as of the stock market close on Friday, 6 June 2025. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
The Print
8 hours ago
- The Print
Infosys gets huge relief on GST as DGGI closes Rs 32,400 cr pre-show cause notice
Mid-last year, the goods and services tax (GST) authorities had slapped Rs 32,403 crore notice on Infosys for services availed by the company from its overseas branches for five years starting 2017. New Delhi, Jun 7 (PTI) In a major relief for Infosys, the Director General of GST Intelligence has closed pre-show cause notice proceedings against the company for financial years 2018-19 to 2021-22 involving a staggering Rs 32,403 crore in GST dues. The GST demand, in fact, exceeds Infosys's annual profits (net profit for full FY25 stood at Rs 26,713 crore), and its closure now is bound to come as a significant relief for the tech major. The Bengaluru-headquartered company, in a BSE filing, said with the receipt of the latest communication from DGGI 'this matter stands closed'. 'In continuation to our earlier communications on July 31, 2024, August 1, 2024 and August 3,2024 on GST, this is to inform that the company has today received a communication from the Director General of GST Intelligence (DGGI) closing the pre-show cause notice proceedings for the financial years 2018-19 to 2021-22,' the company said in the filing late Friday evening. Infosys — which competes with the likes of TCS, Wipro and others for global IT contracts — said it had received and responded to a pre-show cause notice issued by DGGI for the period July 2017 to March 2022 on the issue of non-payment of IGST under Reverse Charge Mechanism. 'The GST amount as per the pre-show cause notice for this period was Rs 32,403 crore. The company had on August 3, 2024 received a communication from DGGI closing the pre-show cause notice proceedings for the financial year 2017-2018. With the receipt of today's communication from DGGI, this matter stands closed,' Infosys said. In July last year, Infosys had informed that Karnataka State GST authorities issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022 towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice. 'The company has also received a pre-show cause notice from Director General of GST Intelligence on the same matter and the company is in the process of responding to the same,' the filing of July 2024 had said. All along, Infosys maintained that GST is not applicable on these expenses. 'Additionally, as per a recent circular issued by the Central Board of Indirect Taxes and Customs on the recommendations of the GST Council, services provided by the overseas branches to Indian entity are not subject to GST,' Infosys had argued back in July 2024. The tech firm had asserted GST payments are eligible for credit or refund against export of IT services. 'Infosys has paid all its GST dues and is fully in compliance with the central and state regulations on this matter,' the company had contended. The document sent to Infosys by GST authorities at that point had reportedly said, 'In lieu of receipt of supplies from overseas branch offices, the company has paid consideration to the branch offices in the form of overseas branch expense. Hence, M/s Infosys Ltd, Bengaluru is liable to pay IGST under reverse charge mechanism on supplies received from branches located outside India to the tune of Rs 32,403.46 crores for the period 2017-18 (July 2017 onwards) to 2021-22.' The Directorate General of GST Intelligence in Bengaluru had been of the opinion that Infosys did not pay the Integrated-GST (IGST) on the import of services as a recipient of services. For the just-ended March quarter, Infosys reported an 11.7 per cent decline in consolidated net profit to Rs 7,033 crore mainly on account of compensation to employees, and acquisitions during the reported period. The company has guided for a revenue growth of 0-3 per cent in constant currency terms in the current fiscal year, citing uncertainty in the environment. For the full FY25, profits saw a marginal increase of 1.8 per cent to Rs 26,713 crore; revenues climbed 6.06 per cent to reach Rs 1,62,990 crore — exceeding its guidance of 4.5-5 per cent for the full FY25. PTI MBI TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
8 hours ago
- Economic Times
M-cap of 9 of top-10 most valued firms jumps Rs 1 lakh cr; RIL, HDFC Bank shine
Nine of the top-10 most valued firms together added Rs 1,00,850.96 crore in market valuation last week, with Reliance Industries and HDFC Bank stealing the show with maximum gain, in line with an optimistic trend in equities. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Nine of the top-10 most valued firms together added Rs 1,00,850.96 crore in market valuation last week, with Reliance Industries and HDFC Bank stealing the show with maximum gain, in line with an optimistic trend in week, the BSE benchmark Sensex surged 737.98 points, or 0.90 per the top-10 pack, Tata Consultancy Services (TCS) emerged as the only laggard, while Reliance Industries, HDFC Bank Bajaj Finance , and Hindustan Unilever Ltd were the market valuation of Reliance Industries jumped Rs 30,786.38 crore to Rs 19,53,480.09 crore, the most among top-10 Bank's valuation surged Rs 26,668.23 crore to Rs 15,15,853.85 Finance added Rs 12,322.96 crore taking its valuation to Rs 5,82,469.45 market capitalisation (mcap) of ICICI Bank rallied Rs 9,790.87 crore to Rs 10,41,053.07 Unilever's mcap zoomed Rs 9,280.89 crore to Rs 5,61,282.11 market valuation of Bharti Airtel climbed Rs 7,127.63 crore to Rs 10,65,894.55 crore and that of Life Insurance Corporation of India (LIC) advanced Rs 3,953.12 crore to Rs 6,07,073.28 added Rs 519.27 crore to its mcap, which stood at Rs 6,49,739.73 Bank of India's valuation went up Rs 401.61 crore to Rs 7,25,437.74 the mcap of TCS dropped Rs 28,510.53 crore to Rs 12,24,975.89 the top-10 chart, Reliance Industries remained the most-valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance, and Hindustan Unilever.
