Upcoming IPO: Prostarm Info Systems Received In-Principle Approval to Float IPO

The capital market regulator, the Securities and Exchange Board of India (SEBI) has given in-principle approval to Prostarm Info Systems to launch an IPO. Prostarm Info Systems IPO is entirely a fresh issue of up to 1.6 crore equity shares, each with a face value of ₹10, as outlined in the draft red herring prospectus (DRHP).

Choice Capital Advisors Pvt Ltd is serving as the book-running lead manager, and Kfin Technologies is acting as the registrar for the issue. The company’s shares will be listed on the BSE and NSE.

Use of IPO Proceeds

The funds raised through this Upcoming IPO will be used to meet working capital needs, repay debt, seize inorganic growth opportunities, support strategic initiatives, and for general corporate purposes.

About Prostarm Info Systems

Founded in 2008 and headquartered in Navi Mumbai, Prostarm Info Systems operates three manufacturing plants in Maharashtra. The company produces power solution products under the ‘Prostarm’ brand, including UPS systems, inverters, solar hybrid inverters, and lithium-ion battery packs. It has also undertaken rooftop solar photovoltaic power plant projects on an EPC basis.

In FY24, Prostarm Info Systems served over 700 clients, including major names such as Larsen & Toubro, Tata Power, and Bajaj Finance. The company’s net profit for FY24 grew by 18% to ₹22.8 crore, up from ₹19.3 crore the previous year. Its revenue from operations increased by 12%, reaching ₹257.9 crore during the same period.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.