Prostarm Info Systems IPO to open on May 27. Check price band, GMP and other details

Prostarm Info Systems IPO: The initial public offering (IPO) of the inverter maker — Prostarm Info Systems — will open for subscription next week on May 27, 2025. The three-day public offer will close for bidding on May 29.

With this, Prostarm Info Systems will be the third mainboard IPO to hit Dalal Street next week, alongside Aegis Vopak Terminals and Schloss Bangalore (The Leela).

The price band for Prostarm Info Systems IPO has been fixed at ₹95-105 per share. With the issue being entirely a fresh share sale of 1.60 crore shares, the company is looking to raise ₹168 crore at the upper price band.

The minimum lot size for the IPO is 142 shares. Retail investors need to shell out at least ₹13,490 to subscribe to one lot of Prostarm Info Systems IPO.

Meanwhile, 50% of the IPO is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors. The anchor book will open for subscription on Monday, May 26.

The company plans to use the funds raised from the IPO to pre-pay or repay all or a portion of certain outstanding borrowings availed by the company, achieve inorganic growth through unidentified acquisitions and other strategic initiatives, fund working capital requirements and other corporate purposes.

Currently, Prostarm Info Systems' IPO grey market premium or GMP is nil, meaning the shares of the company are trading at par with the IPO price. Shares of Prostarm Info Systems IPO are slated to list on the BSE and NSE, with the tentative listing date fixed as June 3.

About Prostarm Info Systems

Incorporated in 2008, Prostarm Info Systems is engaged in designing, manufacturing, assembling, sale, servicing, and supplying Energy Storage Equipment and Power Conditioning Equipment, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, isolation transformers, and other power solution products.

It is also engaged in the sale and supply of third-party power solution products such as batteries, reverse logistics/end-of-life products, and other assets, including IT assets, solar panels, and allied products.

As of May 17, Prostarm Info Systems is an empanelled vendor for the Airports Authority of India, West Bengal Public Health Engineering Department, West Bengal Electronic Industry Development Corporation Limited, Telangana State Technology Services Limited, Railtel Corporation of India and NTPC Vidyut Vyapar and Nigam.

Choice Capital Advisors Pvt Ltd is the book-running lead manager of the Prostarm Info Systems IPO, while Kfin Technologies Limited is the registrar for the issue.

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