New Delhi, June 3(HS): Prostarm Info Systems, specializing in voltage stabilizers, UPS, and inverter systems, successfully debuted on the stock market with their IPO priced at ₹105. Shares opened at ₹125 on BSE and ₹120 on NSE, rising briefly to ₹130 before declining due to profit-booking, ultimately trading at ₹121 after the first hour. The ₹168 crore IPO, open for subscription from May 27 to 29, received overwhelming investor interest with an overall subscription of 96.68 times, including 102.67 times for Qualified Institutional Buyers (QIB), 222.13 times for Non-Institutional Investors (NII), and 39.48 times for retail investors.

A total of 1.60 crore new shares were issued, each with a face value of ₹10, with proceeds earmarked for debt repayment, working capital, and general corporate needs. Financially, the company’s position is strong, with net profits rising from ₹10.87 crores in FY 2021-22 to ₹22.80 crores in FY 2023-24, while revenue grew at a CAGR of over 22%, reaching ₹270.27 crores in the last fiscal year (April to December 2024).

Hindusthan Samachar / Jun Sarkar