Latest news with #ProstarmInfoSystemsLtd
News18
29-05-2025
- Business
- News18
Prostarm Info Systems IPO Closing Today: Should You Subscribe? Check Subscription Status, GMP Today
Last Updated: Unlisted shares of Prostarm Info Systems Ltd are currently trading at Rs 129 apiece in the grey market, which is a 22.86 per cent premium or GMP over the IPO price of Rs 105. Prostarm Info Systems IPO Day 3: The initial public offering of Aegis Vopak Terminals Ltd, which is going to be closed at 5 pm on Thursday, has received a decent response from investors. Till 10:29 am on the final day of bidding on Wednesday, the Rs 168-crore IPO received a 19.27 times subscription, garnering bids for 21,58,12,452 shares as against 1,12,00,000 shares on offer. The retail and NII participation stood at 16.53 times and 48.68 times, respectively. Its qualified institutional buyer (QIB) category got a 2.01 times subscription, according to data from exchanges. The IPO, which was opened for public subscription on May 27, will be closed on May 29. It received a 3.61 times subscription on the first day of bidding and a 12.74 times subscription on the second day. The price band has been fixed in the range of Rs 105 apiece. According to market observers, unlisted shares of Prostarm Info Systems Ltd are currently trading at Rs 129 apiece in the grey market, which is a 22.86 per cent premium or GMP over the IPO price of Rs 105. It indicates decent listing gains for investors on June 3, the tentative listing date. The shares will be listed on both BSE and NSE. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Anand Rathi recommends 'Subscribe for long-term', highlighting Prostarm's diverse product range and wide customer base. With a valuation of 27.1x FY24 EPS and a market cap-to-sales ratio of 2.4x, the firm sees potential in its plans to expand production capacity and integrate automation. SMIFS gives a 'Subscribe' rating, citing low current capacity utilization, which offers scope for margin and earnings growth. It believes the stock is undervalued relative to peers despite strong financials and sees upside potential as operational leverage kicks in. SBI Securities has given a 'Subscribe' rating, citing Prostarm Info Systems' strong presence across sectors like data centers, renewable energy, hospitals, and elevators. With a robust financial performance — revenue, EBITDA, and PAT growing at a CAGR of 23%, 49%, and 43% over FY22–FY24 — the brokerage finds the IPO valuation of 20.2x FY25E EPS reasonable compared to peers. Arihant Capital also assigns a 'Subscribe for long-term' rating, pointing to its 700+ customer base, extensive dealer network, and growing international footprint. The firm sees opportunities in the growing UPS, lithium-ion battery, and stabilizer markets, with IPO proceeds aimed at business expansion. ProfitMart Securities maintains a 'Subscribe for long-term' stance, citing the experienced promoter group and strong management as key strengths. The firm expects consistent future performance, making it a suitable pick for patient investors. Bajaj Broking tags it 'Subscribe for long-term', noting that the company's integrated service model boosted bottom-line growth from FY23 onwards. While the IPO appears fully priced, long-term investors may benefit. The IPO has a fresh issue of 1.6 crore equity shares. The price band for the offer is fixed at Rs 95-105 per share. Prostarm Info Systems intends to utilise Rs 72.50 crore of the total IPO proceeds towards funding capital requirements of the company, Rs 17.95 crore for payment of debt and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives as well as for general corporate purposes. The company is an integrated power solution provider, especially in UPS system lithium-ion battery pack and third-party power solution products, among others. It caters to a range of industries, including healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil & gas. It manufactures several power solution products under the Prostarm brand, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers. It operates three manufacturing facilities in Maharashtra. The company catered to more than 700 clients during FY24, including Larsen & Toubro Ltd, Tata Power Co. Ltd and Bajaj Finance Ltd. The company's shares will be listed on the BSE and NSE. Choice Capital Advisors is the book-running lead manager, and Kfin Technologies Ltd is the registrar to the offer. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : IPO Location : New Delhi, India, India First Published: May 29, 2025, 10:38 IST
News18
28-05-2025
- Business
- News18
Prostarm Info Systems IPO Day 2: Check Subscription Status, GMP Today
Last Updated: Unlisted shares of Prostarm Info Systems Ltd are currently trading at Rs 125 apiece in the grey market, which is a 19.05 per cent premium or GMP over the IPO price of Rs 105. Prostarm Info Systems IPO Day 2: The initial public offering of Aegis Vopak Terminals Ltd, which opened on Tuesday, as so far received a decent response from investors. Till 10:49 am on the second day of bidding on Wednesday, the Rs 168-crore IPO received a 5.71 times subscription, garnering bids for 6,39,34,648 shares as against 1,12,00,000 shares on offer. The retail and NII participation stood at 6.61 times and 11.14 times, respectively. Its qualified institutional buyer (QIB) category got a 0.07 times subscription, according to data from exchanges. The IPO, which was opened for public subscription on May 27, will be closed on May 29. It received a 3.61 times subscription on the first day of bidding. The price band has been fixed in the range of Rs 105 apiece. Prostarm Info Systems IPO GMP Today According to market observers, unlisted shares of Prostarm Info Systems Ltd are currently trading at Rs 125 apiece in the grey market, which is a 19.05 per cent premium or GMP over the IPO price of Rs 105. It indicates decent listing gains for investors on June 3, the tentative listing date. advetisement The shares will be listed on both BSE and NSE. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Prostarm Info Systems IPO: Should You Subscribe? Anand Rathi recommends 'Subscribe for long-term', highlighting Prostarm's diverse product range and wide customer base. With a valuation of 27.1x FY24 EPS and a market cap-to-sales ratio of 2.4x, the firm sees potential in its plans to expand production capacity and integrate automation. SMIFS gives a 'Subscribe' rating, citing low current capacity utilization, which offers scope for margin and earnings growth. It believes the stock is undervalued relative to peers despite strong financials and sees upside potential as operational leverage kicks in. SBI Securities has given a 'Subscribe' rating, citing Prostarm Info Systems' strong presence across sectors like data centers, renewable energy, hospitals, and elevators. With a robust financial performance — revenue, EBITDA, and PAT growing at a CAGR of 23%, 49%, and 43% over FY22–FY24 — the brokerage finds the IPO valuation of 20.2x FY25E EPS reasonable compared to peers. Arihant Capital also assigns a 'Subscribe for long-term' rating, pointing to its 700+ customer base, extensive dealer network, and growing international footprint. The firm sees opportunities in the growing UPS, lithium-ion battery, and stabilizer markets, with IPO proceeds aimed at business expansion. ProfitMart Securities maintains a 'Subscribe for long-term' stance, citing the experienced promoter group and strong management as key strengths. The firm expects consistent future performance, making it a suitable pick for patient investors. Bajaj Broking tags it 'Subscribe for long-term', noting that the company's integrated service model boosted bottom-line growth from FY23 onwards. While the IPO appears fully priced, long-term investors may benefit. Prostarm Info Systems IPO: More Details The IPO has a fresh issue of 1.6 crore equity shares. The price band for the offer is fixed at Rs 95-105 per share. Prostarm Info Systems intends to utilise Rs 72.50 crore of the total IPO proceeds towards funding capital requirements of the company, Rs 17.95 crore for payment of debt and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives as well as for general corporate purposes. Advertisement The company is an integrated power solution provider, especially in UPS system lithium-ion battery pack and third-party power solution products, among others. It caters to a range of industries, including healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil & gas. It manufactures several power solution products under the Prostarm brand, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers. It operates three manufacturing facilities in Maharashtra. The company catered to more than 700 clients during FY24, including Larsen & Toubro Ltd, Tata Power Co. Ltd and Bajaj Finance Ltd. top videos View All The company's shares will be listed on the BSE and NSE. Choice Capital Advisors is the book-running lead manager, and Kfin Technologies Ltd is the registrar to the offer. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : IPO Location : New Delhi, India, India First Published: May 28, 2025, 11:08 IST News business » ipo Prostarm Info Systems IPO Day 2: Check Subscription Status, GMP Today
Mint
26-05-2025
- Business
- Mint
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 '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.
Mint
23-05-2025
- Business
- Mint
Prostarm Info Systems IPO to open soon: 10 key risks from RHP you must know before subscribing
Prostarm Info Systems Ltd is set to launch its initial public offering (IPO) on Tuesday, May 27, with the issue remaining open for subscription until Thursday, May 29. The company has fixed the price band of the IPO at ₹ 95 to ₹ 105 per share. The issue comprises a fresh sale of 1.60 crore equity shares, and at the upper price band, the company aims to raise ₹ 168 crore. The company plans to utilise the net proceeds from the issue for a variety of purposes. These include pre-payment or repayment of outstanding borrowings, funding inorganic growth through acquisitions and strategic initiatives, meeting working capital requirements, and general corporate needs. This broad use of funds indicates Prostarm's ambition to scale its operations while simultaneously strengthening its balance sheet. The IPO follows the standard allocation format. Half of the issue is reserved for Qualified Institutional Buyers (QIBs), 35 percent for Non-Institutional Investors (NIIs), and 15 percent for Retail Individual Investors (RIIs). Retail investors can bid for a minimum of 142 shares in one lot, with a minimum investment of ₹ 14,910 at the upper end of the price band. Choice Capital Advisors Pvt Ltd is acting as the book-running lead manager to the issue, while Kfin Technologies Ltd has been appointed as the registrar. These firms will handle the application and allotment process and support the overall IPO execution. Incorporated in 2008, Prostarm Info Systems is engaged in the design, manufacture, assembly, sale, and service of energy storage and power conditioning equipment. Its product offerings include UPS systems, inverter and lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers. The company plays a significant role in India's energy management ecosystem by addressing the demand for reliable and efficient power solutions. With the growing emphasis on renewable energy and stable power infrastructure, Prostarm is well-positioned to benefit from long-term trends. However, potential investors should also be aware of business risks outlined in the company's filings, such as prior years of negative operating cash flow and its reliance on tender-based contracts. Nevertheless, the IPO offers a compelling opportunity to tap into a specialised segment of the energy sector. Consistent Negative Operating Cash Flows: Prostarm has recorded negative cash flows for three consecutive years— ₹ 1,350.31 lakh in FY23, ₹ 780.18 lakh in FY24, and ₹ 1,053.45 lakh in the nine months ended Dec 2024—largely due to higher trade receivables, inventory buildup, and capital investments. Customer Concentration Risk: A significant portion of revenue comes from a limited set of clients. Loss of any key customer due to contract termination, financial stress, or operational disruptions could materially impact the company's cash flow and profitability. Legal Risk from Customs Violation: The company has received a show cause notice under the Customs Act, 1962. Any adverse ruling in this matter could lead to financial penalties and negatively affect its business and reputation. Tender-Based Revenue in Solar EPC: A major chunk of Prostarm's solar EPC business depends on government tenders. Project delays, qualification issues, or legal disputes could result in idle resources and cash flow disruptions. High Competitive Intensity: The firm faces stiff competition from organized and unorganized players in the power solutions space. Competitors offering lower prices or stronger distribution capabilities could erode Prostarm's market share. Debt Servicing Stress: The company's debt service coverage ratio dropped from 10.3 in FY22 to 5.59 in FY24, raising concerns about future funding needs and its ability to meet financial obligations under current or new loan covenants. International Expansion Risks: Plans to enter international markets within two years expose Prostarm to challenges like foreign regulatory issues, currency risks, political instability, and logistical inefficiencies, all of which could affect growth projections. Macroeconomic Vulnerability: Any downgrade in India's sovereign credit rating could impact Prostarm's ability to raise funds at competitive rates overseas, limiting its future expansion or refinancing capabilities. Regulatory Constraints on Foreign Borrowing: As an Indian company, Prostarm is subject to strict exchange controls. Regulatory hurdles could limit access to foreign capital or make borrowing terms more stringent, restricting growth and operations. Rising Working Capital Needs: Increasing inventory and receivables have added pressure on working capital requirements. Without efficient management or additional financing, this could hamper operations and scalability. 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.
