Prostarm Info Systems Limited, today announced price band of ₹ 95-105 per Equity Share for its forthcoming initial public offering. The initial public offering will open for subscription on Tuesday, May 27, 2025, and the issue will conclude on Thursday, May 29, 2025. Promoted by Ram Agarwal in 2008, a first-generation entrepreneur with 16-plus years of experience in electrical and electronic control, energy storage, power conditioning and power consumption solutions industry.
The anchor portion will be opened on Monday, May 26, 2025. The company intends to raise
₹168Crore from the offering and will to be listed on the BSE and NSE. Choice Capital Advisors Private Limited is the Book Running Lead Manager, and KFIN Technologies Limited is the Registrar to the offer.
The initial public offering will comprise a fresh issue of upto1,60,00,000 Equity Shares with a face value of ₹10/- through the book-building route. As many as upto 48,00,000 equity
shares have been reserved for the Anchor investors, upto 24,00,000 equity shares allocated for the NII portion, upto 32,00,000 equity shares for QIBs after allocation to Anchor Investors, and the Retail (RII) portion accounts for upto 56,00,000 equity shares.
Prostarm Info Systems intends to utilise ₹72.50 crore of the total IPO proceeds towards
funding capital requirements of the company, ₹17.95 crore for repayment/prepayment of all or a portion of certain outstanding borrowings availed by the company and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives and for general corporate purposes.
The company has posted a ₹268.62 crore revenue from operations and a profit (PAT) of
₹22.10 crore in the first nine months ended December 2024. It posted a revenue of₹257.87 crore and profit (PAT) of ₹22.79 crore for the financial ended March 31, 2024