Prostarm Data Programs’ IPO continued to see robust investor curiosity on Day 2, closing with an total subscription of 12.65 instances as of 5:00 pm on Could 28, 2025, as per BSE knowledge.
The problem acquired bids for roughly 14.17 crore shares towards the 1.12 crore shares on supply. The non-institutional investor section led the demand with a subscription of 27.23 instances, adopted by retail particular person buyers who subscribed 13.04 instances. Certified Institutional Patrons (QIBs) confirmed regular participation with a subscription of 1.03 instances of their allotted quota.
Prostarm Data Programs IPO: Day 1
Prostarm Data Programs’ IPO, which opened with a worth band of Rs 95–Rs 105 per share, noticed robust traction on Day 1 (Could 27), with the difficulty subscribed over 3.5 instances by the top of the primary day of bidding. The surge was pushed largely by retail and non-institutional buyers.
As per alternate knowledge for Could 27, the IPO acquired bids for roughly 3.98 crore shares towards a proposal dimension of 1.12 crore shares. The retail portion was subscribed 4.15 instances, whereas the NII class was oversubscribed 6.83 instances. The QIB section remained largely muted on Day 1 with a subscription of simply 0.05 instances.
The general public providing is a recent subject of 1.6 crore shares value Rs 168 crore, with a minimal lot dimension of 142 shares. The IPO will conclude on Could 29.
Prostarm Data Programs IPO: Allocation and key managers
The IPO allocation is split into 50 % reserved for QIBs, 35 % for retail buyers, and 15 % for non-institutional buyers. Alternative Capital Advisors had been appointed because the BRLM, whereas KFin Applied sciences has been entrusted with dealing with registrar actions.
Prostarm Data Programs IPO: Allotment & itemizing dates
The premise of allotment is predicted to be finalized on the next day, Friday, Could 30, 2025, whereas shares will probably be credited to buyers’ demat accounts by Monday, June 2, 2025. Prostarm Data Programs shares are set to reach at inventory exchanges on Tuesday, June 3, 2025, for listings on the BSE and NSE.
What is going to the funds be used for?
Rs 72.5 crore has been deliberate to be diverted for capital expenditure and Rs 17.95 crore will probably be used to repay present borrowings. The rest of the cash will probably be used for acquisitions, strategic progress initiatives, and basic company functions.
Previous to the IPO’s opening to the general public for the subscriptions, Prostarm had raised roughly Rs 50.4 crores from anchor buyers, together with Chhattisgarh Funding Ltd, Astrone Capital VCC ARVEN, Vikasa India, and Swyom India Alpha Fund. Home mutual funds didn’t, nonetheless, take part within the anchor spherical.
Prostarm Data Programs overview
Based in 2008, Prostarm is an influence options firm that specialises in UPS programs, inverters, lithium-ion battery packs, and photo voltaic EPC tasks. It serves a variety of industries together with healthcare, aviation, defence, schooling, and renewable power. The corporate manufactures merchandise underneath its personal model and in addition provides turnkey photo voltaic tasks and upkeep providers.
For the 9 months ending December 2024, Prostarm reported a internet revenue of Rs 22.93 crore on a income of Rs 268.63 crore.
