Prostarm Info Systems sets price band at ₹95–105 for ₹168 crore IPO opening on May 27
, a power solutions and
energy storage company
, has announced the price band for its upcoming initial public offering (IPO) at ₹95 to ₹105 per share. The ₹168 crore IPO is set to open for subscription on May 27, and will close on May 29. The issue is entirely a fresh equity offering of 1.60 crore shares and will be listed on both the BSE and NSE.
Retail investors can bid for a minimum lot size of 142 shares, translating to a minimum investment of ₹13,490 at the lower band and ₹14,910 at the upper band. High net-worth investors can invest at a minimum of 14 lots (1,988 shares) for ₹2.08 lakh, while the cut-off for big HNIs is set at 68 lots (9,656 shares), requiring an investment of ₹10.13 lakh.
The IPO is being managed by Choice Capital Advisors, and
KFin Technologies
is the registrar.
Prostarm plans to use ₹72.5 crore from the issue proceeds to fund working capital requirements, ₹17.95 crore to repay existing borrowings, and the rest for inorganic growth initiatives and general corporate purposes.
Incorporated in 2008, Prostarm Info Systems is a Pune-based manufacturer of power conditioning and energy storage equipment, including UPS systems, inverters, stabilisers, and lithium-ion battery packs.
The company also undertakes rooftop solar power plant projects on an EPC basis. It caters to a broad set of industries such as defence, railways, aviation, healthcare, BFSI, and IT. Its major clients include
Railtel Corporation
, NTPC Vidyut Vyapar Nigam, Airports Authority of India, and several state-run agencies.
As of May 17, 2025, the company operates 21 branch offices and two storage facilities across 18 states and one union territory. It employs over 440 personnel, including permanent and contractual staff.
For the nine months ended December 31, 2024, the company reported revenue of ₹270 crore and a net profit of ₹22.11 crore. The company's key strengths include a strong financial track record, diversified product portfolio, wide customer base, and pan-India presence.
Prostarm's IPO is expected to attract investors looking for exposure to India's growing energy infrastructure and power management space.
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