The ₹168 crore IPO of Prostarm Info Systems kicked off with a bang! On just the first day of bidding, the public issue was oversubscribed 3.54 times, signaling strong investor interest, especially from retail and non-institutional investors.
The Maharashtra-based power solution provider—known for its inverters and UPS systems—received bids for 3.97 crore shares, compared to its total offer size of 1.12 crore shares.
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Who’s Driving the IPO Rush?
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🧑💼 Non-Institutional Investors (NIIs) led the charge, booking their quota 6.82 times.
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🛍️ Retail investors weren’t far behind, subscribing 4.14 times.
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🏦 Qualified Institutional Buyers (QIBs), however, stayed cautious, bidding for just 5% of their reserved portion so far.
IPO Details at a Glance
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💵 Price Band: ₹95 – ₹105 per share
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📅 Open Dates: May 27 to May 29, 2025
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🧾 Lot Size: Minimum 142 shares
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🪙 Minimum Investment: ₹14,910
The IPO is a fresh issue of 1.6 crore shares, with the funds earmarked for:
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Working capital needs
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Debt repayment
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Future acquisitions for inorganic growth
Prostarm IPO GMP Today: What’s the Buzz in Grey Market?
The IPO is attracting strong grey market interest, with its unlisted shares trading at ₹130–132 apiece, according to sources like Investorgain and IPO Watch. This reflects a GMP (Grey Market Premium) of ₹25–27, or about 23–25% above the upper price band of ₹105.
Expert Advice: Should You Apply?
Market experts are largely bullish on Prostarm’s prospects:
🗣️ Gaurav Garg, Lemonn Markets:
“This IPO looks promising for medium to long-term investors. The company is positioned well in the energy storage and green energy sector, with strong execution and a scalable model.”
📈 Bajaj Broking:
“The IPO appears fully priced, but Prostarm’s rising profits and ability to offer end-to-end solutions under one roof make it attractive for long-term gains.”
Anchor Investors Already Onboard
A day before the IPO opened, Prostarm raised ₹50.4 crore via anchor investment. Notable institutions like Chhattisgarh Investment, Astrone Capital, and Abundantia Capital participated, securing 48 lakh shares at ₹105 per share.
Choice Capital Advisors is acting as the lead manager for this issue.
Final Verdict
With strong Day 1 subscription numbers, solid backing from anchor investors, and decent GMP activity, the Prostarm IPO looks attractive for those betting on India’s power and energy future. While QIB interest remains low for now, the retail and NII response reflects confidence in the company’s potential.
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