Latest news with #Railtel
Time of India
6 days ago
- Business
- Time of India
Prostarm Info Systems IPO Day 2: GMP falls despite healthy subscription from investors
Prostarm Info Systems ' Rs 168 crore IPO has drawn healthy interest from retail and non-institutional investors, but the enthusiasm in the grey market has started to cool. The company's shares, which were commanding a grey market premium (GMP) of Rs 25 just a day earlier, are now trading at a premium of Rs 19. This decline in GMP comes even as the IPO saw high bidding activity on Day 2. The offer, which opened for subscription on May 27 and closes on May 29, is a book-building issue with a price band of Rs 95 to Rs 105 per share. Investors can apply in lots of 142 shares, requiring a minimum investment of Rs 14,910 at the upper price band. Shares are expected to be listed on June 3 on the BSE and NSE. Despite the fall in GMP, overall subscription data tells a bullish story. The IPO was subscribed more than 11 times overall, with particularly heavy demand coming from high net-worth individuals. The NII segment saw a 22.79 times subscription rate, while retail investors bid 12.2 times their quota. The QIB portion, however, was just about fully subscribed at 0.99 times, with limited participation from mutual funds and foreign institutions. Founded in 2008, Prostarm Info Systems designs and manufactures power conditioning equipment including UPS systems, inverters, lithium-ion battery packs, and solar hybrid solutions. It serves a wide range of sectors such as aviation, defence, banking, education, and healthcare. Key clients include Railtel, Airports Authority of India, and NTPC Vidyut Vyapar Nigam. The IPO proceeds will be used to support working capital needs, repay debt, fund inorganic growth, and meet general corporate requirements. Choice Capital Advisors is the lead manager and KFin Technologies is the registrar to the issue. From a fundamentals perspective, the company has been growing steadily. Revenue increased from Rs 232 crore in FY23 to Rs 259 crore in FY24, and it has already posted Rs 270 crore in the first nine months of FY25. Net profit for 9MFY25 stood at Rs 22.11 crore, nearly matching the full-year FY24 profit of Rs 22.80 crore. Bajaj Broking recommends subscribing to the IPO with a long-term view, citing the company's leadership in integrated power solutions and its strong financial performance. While the short-term listing premium appears to be moderating, Prostarm's business fundamentals and expanding market reach keep long-term prospects intact.
Business Upturn
02-05-2025
- Business
- Business Upturn
Railtel shares surge 8% as Q4 EBITDA jumps 53% YoY to Rs 180 crore
By Aman Shukla Published on May 2, 2025, 09:25 IST Railtel Corporation, a leading Navratna PSU, saw its shares jump by 8% in morning trade after announcing impressive earnings for the fourth quarter ended March 31, 2025. As of 9:23 AM, the shares were trading 8.22% higher at Rs 320.40. The company reported a remarkable 45.8% year-on-year (YoY) increase in profit after tax (PAT), reaching Rs 113.4 crore, compared to Rs 77.53 crore in Q4 FY24. Railtel's revenue from operations for Q4 FY25 stood at Rs 1,308 crore, marking a substantial growth from Rs 832.7 crore in the same quarter last year. This growth reflects the company's continued expansion and strong market presence in the telecom and railway infrastructure sectors. The company's EBITDA soared by 53.8% YoY, reaching Rs 180 crore, up from Rs 117 crore in Q4 FY24. The EBITDA margin, however, slightly dipped to 13.73% from 14% in Q4 FY24, representing a marginal decline of 27 basis points. Railtel's stock opened at ₹313.65, reaching a high of ₹326.90 before closing at the same level. Over the past 52 weeks, the stock has seen a high of ₹617.80 and a low of ₹265.50, reflecting significant volatility. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
