Prostarm Info Systems' Initial Public Offering (IPO) of Rs 168 crore is set for share allotment finalization on Friday, May 30. The IPO, which was open for bidding from May 27 to May 29, garnered significant investor interest, culminating in an overall subscription of 97.20 times. Investors submitted applications for 108.86 crore shares, far exceeding the 1.12 crore shares on offer.

The demand was particularly strong from Non-Institutional Investors (NIIs), whose category was subscribed 222.13 times. Qualified Institutional Buyers (QIBs) also showed robust interest with a subscription of 104.49 times, while Retail Individual Investors (RIIs) subscribed 39.49 times. The price band for the IPO was established at Rs 95 to Rs 105 per share.

For retail investors, the minimum application was for a lot of 142 shares, requiring an investment of Rs 13,490 at the lower end of the price band, although applying at the cut-off price of Rs 105 per share would bring the investment to Rs 14,910. Small NIIs had a minimum application size of 1,988 shares (14 lots), valued at Rs 2,08,740, and big NIIs were required to apply for at least 9,656 shares (68 lots), amounting to Rs 10,13,880.

Successful bidders can expect the shares to be credited to their demat accounts by Monday, June 2. The listing of Prostarm Info Systems' shares is anticipated on both the BSE and NSE on Tuesday, June 3, 2025.

Ahead of its stock market debut, Prostarm Info Systems is commanding a Grey Market Premium (GMP) of Rs 20. This suggests a potential listing price of around Rs 125 per share, against the upper price band of Rs 105. This indicates a potential listing gain of approximately 19.05% for successful allottees, reflecting moderate optimism in the unofficial market.

Prostarm Info Systems operates as a power solutions company. Its business includes the manufacturing of Uninterruptible Power Supply (UPS) systems, lithium-ion battery packs, inverters, and stabilisers. The company also provides turnkey Engineering, Procurement, and Construction (EPC) services for solar and power infrastructure projects. It serves diverse sectors such as aviation, defence, Information Technology (IT), healthcare, and education.

The proceeds from the IPO are earmarked for several key objectives, including the repayment of existing borrowings, funding working capital requirements, and supporting inorganic growth initiatives. Financially, Prostarm Info Systems reported an adjusted revenue of Rs 4,665 crore in the fiscal year 2025 (FY25). The company aims to enhance its profitability through operational upgrades, stringent cost controls, and by expanding its operations, including a potential venture into electric motorcycles.

While the current GMP signals decent listing prospects, market participants are keenly observing QIB allocations and overall investor sentiment for more definitive cues. Investors who are not allotted shares can expect refunds by June 2. Those who receive an allotment should closely monitor the stock's performance when it debuts on the market on June 3.

Investors can check their Prostarm IPO allotment status through various platforms. On the BSE website (www.bseindia.com/investors/appli_check.aspx), select 'Equity' and 'Prostarm Info Systems Limited', then enter the Application Number and PAN. Alternatively, KFin Technologies' IPO status page (ris.kfintech.com/ipostatus/) allows checking by selecting 'Prostarm Info Systems Limited' and using Application Number, Demat Account, or PAN. The NSE website also provides a facility to check IPO bid details by selecting 'PROSTARM' from the symbol list and entering the Application Number and PAN.