&w=3840&q=100)
Prostarm Info Systems IPO ends today; subscription soars 19x, GMP at 23%
Prostarm Info Systems IPO Day 3 Subscription Status: The three-day subscription period to bid for the initial public offering (IPO) of Prostarm Info Systems is set to conclude today, May 29, 2025. The public offering, which opened for subscription on Tuesday, May 27, has received a favourable response from investors. NSE data suggests that the ₹168 crore offering of Prostarm Info Systems received bids for 21,21,35,078 shares, against 1,12,00,000 shares on offer, resulting in a subscription of 18.94 times as of 10:27 AM on Wednesday, May 28.
Among the investor categories, Non-institutional investors (NIIs) led the demand by oversubscribing the category reserved for them by 47.67 times. This was followed by retail investors, who bid for 116.31 times, and Qualified institutional buyers (QIBs), at 2 times.
Prostarm Info Systems IPO details
The public offering comprises an entirely fresh issue of 16 million equity shares. Prostarm Info Systems IPO is available at a price band of ₹95–105 per share, with a lot size of 142 shares.
To bid for one lot or 142 shares of Prostarm Info Systems IPO, a retail investor would require a minimum of ₹14,910, taking the upper end of the IPO price into consideration. A retail investor can bid for a maximum of 13 lots or 1,846 shares, amounting to ₹1,93,830.
Check Vopak Terminals IPO allotment status
Prostarm Info Systems IPO grey market premium (GMP)
The unlisted shares of Prostarm Info Systems were commanding a strong premium in the grey market on the final day of its subscription period. Sources tracking unofficial market activities revealed that Prostarm Info Systems shares were seen trading at around ₹129 per share, reflecting a grey market premium (GMP) of ₹24 or 22.86 per cent over the upper end of the issue price.
Prostarm Info Systems IPO review
The company has received favourable reviews from brokerages for its public offering. Anand Rathi Research Team, and Bajaj Broking have recommended subscribing to the issue for a long-term perspective. READ MORE
Prostarm Info Systems IPO allotment date, listing aate
As the public offering closes for subscription today, the basis of allotment of Prostarm Info Systems IPO shares is likely to be finalised on Friday, May 30, 2025, with shares getting credited into demat accounts by Monday, June 2, 2025.
Prostarm Info Systems shares are slated to make their D-Street debut on Tuesday, June 3, 2025, by listing on the BSE and NSE.
Check Leela Hotels IPO allotment status
Prostarm Info Systems IPO objective
Prostarm Info Systems, in its Red Herring Prospectus (RHP), has said that it will use the IPO proceeds to fund working capital requirements, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company, and for achieving inorganic growth through unidentified acquisitions and other strategic initiatives, as well as for general corporate purposes.
Prostarm Info Systems IPO registrar, lead managers
For the public offering, KFin Technologies serves as the registrar, 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. They design, manufacture, and sell various power solution products, including UPS systems, inverters, and solar hybrid systems. The company serves diverse industries like healthcare, aviation, and renewable energy, with a wide geographical presence across 18 states and 1 union territory in India. As of March 2025, they employed 442 staff members and have 21 branch offices and 2 storage facilities. Their services include installation, rental options, and after-sales support, catering to clients like Airports Authority of India and NTPC.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
37 minutes ago
- The Print
Sensex jumps over 700 points, Nifty reclaims 25,000-level as investors cheer RBI's jumbo rate cut
The policy is broadly positive for growth and investment in a challenging global macro environment, they said. Market analysts said in light of benign inflation forecasts, RBI has taken steps to boost growth. A 50 bps repo rate cut supported by phased 100 basis points CRR cut will boost growth and lower the borrowing costs. Mumbai, Jun 6 (PTI) Benchmark indices Sensex and Nifty surged nearly 1 per cent on Friday, driven by a rally in rate-sensitive sectors following the Reserve Bank's jumbo rate cut of 50 basis points. After a muted start, benchmark sensitive index Sensex and Nifty soon recovered all the early lost ground fuelled by the RBI monetary policy decision and gained over 1 per cent. The 30-share BSE Sensex ended the day higher by 746.95 points, or 0.92 per cent, to settle at 82,188.99. During the day, it surged 857.85 points, or 1.05 per cent, to 82,299.89. The 50-share NSE Nifty reclaimed the 25,000-level and climbed 252.15 points, or 1.02 per cent, to settle at 25,003.05. All key sectors contributed to the rally, with rate-sensitive segments such as realty, financials, and auto emerging as top gainers, closely followed by others. Among sectoral indices, realty jumped 4.74 per cent, financial services (1.79 per cent), metal (1.56 per cent), auto (1.50 per cent), consumer discretionary (1.38 per cent), consumer durables (1.30 per cent) and bankex (1.25 per cent). Industrials and capital goods were the only laggards. Interest-rate-sensitive realty index jumped 4.74 per cent, while auto index went up 1.50 per cent and bankex climbed 1.25 per cent. 'The tone was initially cautious ahead of the outcome of the MPC's monetary policy review, but sentiment turned sharply positive following the surprise announcement of a 50-basis points repo rate cut and a staggered 100 basis points reduction in the CRR. This triggered a strong upward move, followed by a range-bound phase for the remainder of the session,' Ajit Mishra – SVP, Research, Religare Broking said. Mishra further noted that 'going forward, the impact of the rate cut is expected to continue influencing market sentiment. The rate-sensitive pack, along with select themes like railways, are likely to stay in focus, while other sectors may contribute on a rotational basis.' The BSE midcap gauge jumped 0.91 per cent and smallcap index climbed 0.43 per cent. As many as 2,278 stocks advanced while 1,744 declined and 134 remained unchanged on the BSE. According to Dhiraj Relli, MD & CEO, HDFC Securities, several external headwinds — ranging from US tariff policies and global trade tensions to sluggish worldwide growth and geopolitical risks — have weighed on domestic economic prospects, reinforcing the rationale for monetary easing. 'With enhanced liquidity and reduced borrowing costs, conditions are now set for sustained economic momentum and a market recovery. Rate-sensitive sectors responded enthusiastically to the announcement, reflecting renewed investor confidence. This stimulus could propel Indian equity markets beyond their current trading range, potentially pushing the Nifty past 25,000 and toward previous highs of 26,200,' Relli said. On the weekly front, the BSE benchmark surged 737.98 points or 0.90 per cent and Nifty jumped 252.35 points or 1 per cent. Global oil benchmark Brent crude dipped 0.46 per cent to USD 65.04 a barrel. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled in the positive territory while Hong Kong's Hang Seng ended lower. European markets were on a mixed note, while the US markets ended lower on Thursday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 208.47 crore on Thursday, according to exchange data. PTI SUM DRR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
41 minutes ago
- Time of India
SBI MF, Goldman Sachs, others buy 1.8% stake in Bajaj Finserv for Rs 5,506 crore
New Delhi, SBI MF , Morgan Stanley and Goldman Sachs , among others, on Friday cumulatively bought a 1.8 per cent stake in Bajaj Finserv for Rs 5,506 crore from promoter entities. Besides, JP Morgan India , Citigroup Global, Societe Generale, SBI Life , BofA Securities and Barclays Merchant Bank (Singapore) were also among the buyers, as per block deal data on the NSE. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo These entities bought 2.86 crore shares or 1.8 per cent stake in Bajaj Finserv at an average price of Rs 1,925.20 apiece, taking the combined transaction value to Rs 5,506.07 crore, as per the data. Meanwhile, Bajaj Finserv's promoters entities Bajaj Holdings and Investment and Jamnalal Sons offloaded an equal number of shares at the same price. After the stake sale , the promoters' holding of Bajaj Finserv dipped to 58.84 per cent from 60.64 per cent earlier. Live Events Shares of Bajaj Finserv rose 2.30 per cent to close at Rs 1,988.70 apiece on the NSE. In a separate block deal on the NSE, Wabco Asia Pvt Ltd, promoter of ZF Commercial Vehicle Control Systems India, divested a 3.16 per cent stake for Rs 792 crore through an open market transaction. Following the stake sale, Wabco Asia's holding in ZF Commercial Vehicle Control Systems India declined to 60 per cent from 63.16 per cent. As per the data, Wabco Asia sold a little over 6 lakh shares, representing a 3.16 per cent stake in the company. The shares were disposed of at an average price of Rs 13,191 per piece, taking the deal value to Rs 791.63 crore. Franklin Templeton MF, Aditya Birla Sunlife MF, HDFC Standard Life Insurance, Goldman Sachs (Singapore), Societe Generale, and Citigroup Global Markets Mauritius, among others, were the entities who picked shares of ZF Commercial Vehicle Control Systems India. The scrip of ZF Commercial Vehicle Control Systems India jumped 4.46 per cent to settle at Rs 13,917 per piece on the NSE. PTI
Economic Times
an hour ago
- Economic Times
ET Market Watch: Sensex at 81K, Nifty Near 25K; RBI Rate Cut Hopes Boost Sentiment
Transcript Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:Markets ended on a high note today. The Sensex jumped 443 points to close at 81,442, and Nifty rose 131 points to end at 24,750 — after briefly flirting with the 24,900 mark during the driving the rally?- Pharma and Reliance Industries led the charge, while Nifty Realty and Pharma gained the most—up 1.75% and 1.3% respectively. IT and Metal followed with modest gains.- Broader markets were upbeat too—Smallcaps up 1%, Midcaps up 0.7%.- Rs 2.4 lakh crore was added to investor wealth today, pushing BSE's market cap to Rs 447.61 lakh the global push:A weaker U.S. dollar and falling Treasury yields helped boost sentiment. The 10-year U.S. yield fell to 4.355%, raising hopes of a rate cut by the Fed. That's great news for emerging markets like home: All eyes are on the RBI's policy meeting tomorrow. Markets are betting on a 25 bps rate cut—that would make it the third cut in a row, a big boost for liquidity and are back in buying mode, pumping in over Rs 1,000 crore, while DIIs continued their buying streak, investing over Rs 2,500 finally, crude oil prices dipped—Brent at $64.85—thanks to weak U.S. demand data and Saudi price cuts.A softer dollar, falling yields, rate cut hopes, and foreign inflows—India's market bulls have plenty to cheer!
