• Source:JND
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IPO News: Prostarm Info Systems Ltd., a provider of integrated power solutions, set a price range of Rs 95 to Rs 105 per share for its upcoming IPO, which is expected to cost Rs 168 crore. Subscriptions for the IPO will go live on May 27 and run through May 29. According to a statement from the company, the anchor round will open on May 26. Through the book-building process, 1.6 crore equity shares with a face value of Rs 10 will be issued as part of the IPO.

Of the total IPO proceeds, Prostarm Info Systems plans to use Rs 72.50 crore to fund the company's capital needs, Rs 17.95 crore to pay off debt, and the remaining funds for general corporate purposes and inorganic growth through unnamed acquisitions and other strategic initiatives.

The company is an integrated power solution provider, specializing in third-party power solution products and lithium-ion battery packs for UPS systems. Healthcare, aviation, research, BFSI, railroads, defense, security, education, renewable energy, information technology, and oil and gas are just a few of the industries it serves.

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Under the Prostarm brand, it produces a number of power solution products, including lithium-ion battery packs, servo-controlled voltage stabilisers, isolation transformers, UPS systems, lift inverter systems, and solar hybrid inverter systems.

In the Maharashtra state, it runs three manufacturing plants. In FY24, the company served more than 700 customers, including major players like Bajaj Finance Ltd., Tata Power Co. Ltd., and Larsen & Toubro Ltd.

In terms of finances, the company reported operating revenue of Rs 268.62 crore and profit after tax (PAT) of Rs 22.10 crore for the first nine months that ended in December 2024. For the fiscal year that ended on March 31, 2024, it reported revenue of Rs 257.87 crore and a PAT of Rs 22.79 crore.

The BSE and NSE will list the company's shares. The offer's registrar is Kfin Technologies Ltd., and the book-running lead manager is Choice Capital Advisors.

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(With Inputs From PTI)