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Prostarm Info Systems IPO opens on May 27; here's all you need to know
As investors await the subscription window to open for the Prostarm Info Systems IPO, here are some key details taken from its Red Herring Prospectus (RHP):
Prostarm Info Systems IPO issue size
The public issue of Prostarm Info Systems is a book-built issue comprising an entirely fresh issue of 16 million equity shares, aggregating up to ₹168 crore. The public offering does not have any offer-for-sale (OFS) component.
Prostarm Info Systems IPO lot size, price band
Prostarm Info Systems IPO will be available at a price band of ₹95–105 per share. The lot size for the public issue is 142 shares. Accordingly, investors can bid for a minimum of 142 shares of Prostarm Info Systems and in multiples thereof.
The minimum amount required by a retail investor to bid for the Prostarm Info Systems IPO is ₹14,910. A retail investor can bid for a maximum of 13 lots or 1,846 shares, amounting to ₹1,93,830.
Prostarm Info Systems IPO allotment date, listing date
The public offering will remain available for subscription till Thursday, May 29, 2025. Following that, the basis of allotment of Prostarm Info Systems shares is likely to take place on Friday, May 30, 2025, with the shares being credited into demat accounts on Monday, June 2, 2025.
Prostarm Info Systems IPO objective
Prostarm Info Systems intends to utilise the net proceeds from the issue towards funding working capital requirements of the company, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company, as well as for achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Prostarm Info Systems IPO registrar, lead managers
Kfin Technologies serves as the registrar for the public offering, while Choice Capital Advisors is the sole book running lead manager.
About Prostarm Info Systems
Prostarm Info Systems specialises in energy storage and power conditioning equipment. Founded in 2008, the company designs, manufactures, and sells power solution products like UPS systems and solar inverters. The company serves diverse industries, including healthcare, aviation, and renewable energy. With a strong presence across 18 states and 1 union territory, they have established relationships with major clients like Airports Authority of India and Railtel Corporation. Prostarm offers customised products, installation services, and after-sales support.
Prostarm Info Systems financial snapshot
In the financial year 2023–24 (FY24), the profit attributable to the owners of the company rose 17.84 per cent year-on-year (Y-o-Y) to ₹22.79 crore from ₹19.34 crore reported in FY23. For the nine-month period ended on December 31, 2024, it stood at ₹22.93 crore.
The company's revenue jumped 11.9 per cent Y-o-Y to ₹257.87 crore in FY24 from ₹230.36 crore reported a year ago. For the nine-month period ended on December 31, 2024, the company's revenue stood at ₹268.62 crore.
Prostarm Info Systems' total expenditure also rose to ₹228.27 crore in FY24, up 10.7 per cent from ₹206.15 crore reported in FY23. It stood at ₹240.69 crore for the nine-month period ended on December 31, 2024.
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