Prostarm Info Systems IPO Ends Today, Oversubscribed 19 Times On Higher Retail Demand; GMP Nears 23%

Mumbai: The IPO of Prostarm Info Systems ends today, May 29, 2025, and has received an excellent response. The public issue opened on May 27 and saw very strong demand from all investor types.

As of May 28, data from NSE shows the IPO was subscribed 18.94 times. A total of 21.21 crore shares were bid for, against 1.12 crore shares on offer.

Retail investors showed great interest, subscribing 116.31 times. Non-institutional investors (NIIs) subscribed 47.67 times, while Qualified Institutional Buyers (QIBs) subscribed 2 times.

The IPO is a fresh issue of 1.6 crore shares, priced in the band of Rs 95 to Rs 105 per share. The minimum lot size is 142 shares, meaning a retail investor needed at least Rs 14,910 to apply for one lot. A retail investor could apply for up to 13 lots (1,846 shares) for about Rs 1.93 lakh.

In the grey market, Prostarm shares are trading at around Rs 129, which is a Rs 24 premium over the top issue price. This shows a 22.86% grey market premium (GMP).

Brokerages like Anand Rathi and Bajaj Broking have given positive reviews and advised investors to subscribe for long-term gains.

The allotment of shares is expected by May 30, 2025, and shares should be credited to demat accounts by June 2. The stock is likely to list on the BSE and NSE on June 3, 2025.

Prostarm Info Systems plans to use the funds to pay off some debt, support working capital, make new acquisitions, and for general company needs.

The IPO is managed by Choice Capital Advisors and KFin Technologies is the registrar.

Prostarm Info Systems makes and sells power solutions like UPS systems, inverters, and solar hybrid products. They serve industries like healthcare, aviation, and energy, and operate across 18 Indian states and 1 union territory.

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