Prostarm Info Systems IPO set for listing today. GMP signals a positive debut
Prostarm Info Systems is known for its end-to-end solutions in power conditioning, energy storage, UPS systems, lithium-ion batteries, and solar hybrid solutions.
The IPO, open from May 27 to May 29, sought to raise Rs 168 crore through a full fresh issue. It garnered strong investor interest, particularly from HNIs and retail participants. Exchange data shows the issue was subscribed to 12.61 times overall, reflecting solid demand across categories.
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Prostarm Info Systems is scheduled to debut on the NSE SME platform on Tuesday, June 3, and grey market signals suggest a positive opening for the stock. The company, which offers power backup and energy management solutions, recently concluded its initial public offering (IPO) with strong investor demand.As of the latest update, the grey market premium (GMP) for Prostarm Info Systems stands at Rs 12. With the IPO priced at Rs 105 per share (the upper end of the price band), the stock is expected to list around Rs 117, indicating a potential listing gain of 11.43%.If grey market trends hold, Prostarm Info Systems may deliver a healthy debut and reinforce confidence in IPOs amid a buzzing primary market.The IPO, which was open between May 27 and May 29, aimed to raise Rs 168 crore entirely through a fresh issue. The offering saw strong participation, particularly from non-institutional investors. According to exchange data, the issue was oversubscribed 12.61 times in total, with retail and HNI categories seeing heavy bidding.Prostarm Info Systems is known for its end-to-end solutions in power conditioning, energy storage, UPS systems, lithium-ion batteries, and solar hybrid solutions. The company serves a diverse client base across industries, including defence, banking, education, and government. Its clients include NTPC Vidyut Vyapar Nigam, Airports Authority of India, and Railtel.The IPO proceeds will be used to fund working capital needs, repay debt, pursue acquisitions, and support general corporate expenses. Choice Capital Advisors was the lead manager of the issue, and KFin Technologies is acting as the registrar.The company has demonstrated healthy financial growth over the past few financial years. Revenue rose from Rs 232 crore in FY23 to Rs 259 crore in FY24, and it reported Rs 270 crore in total income in the first nine months of FY25. Net profit for the nine-month period stood at Rs 22.11 crore, nearly matching its full FY24 profit.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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