In a remarkable market entry, Prostarm Info Systems Ltd. made its debut on the Bombay Stock Exchange (BSE) at ₹125 per share, marking a 19.05% premium over its Initial Public Offering (IPO) price of ₹105. On the National Stock Exchange (NSE), the shares opened at ₹120, reflecting a 14.29% gain .
The company’s IPO witnessed overwhelming investor enthusiasm, being oversubscribed by 97.2 times. Non-Institutional Investors (NIIs) led the charge with a subscription of 222.13 times, followed by Qualified Institutional Buyers (QIBs) at 102.67 times, and Retail Individual Investors (RIIs) at 39.48 times
Prostarm Info Systems, established in 2008, specializes in energy storage and power conditioning solutions, including UPS systems, inverters, and lithium-ion battery packs. The company plans to utilize the ₹168 crore raised from the IPO for working capital, debt repayment, and potential acquisitions
With a strong debut and solid fundamentals, Prostarm Info Systems has positioned itself as a noteworthy player in the energy solutions sector