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).

Here are the 10 key things to know about Prostarm Info Systems IPO:

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 investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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