Prostarm Info Systems Set to Launch IPO After Sebi Approval

Prostarm Info Systems, a power solutions company, is preparing to launch an IPO after receiving approval from Sebi. The funds will support growth strategies, debt repayment, and working capital. The company, based in Navi Mumbai, has three manufacturing facilities and a significant client base, including Tata Power and Bajaj Finance.

Prostarm Info Systems, renowned for its power solutions, has announced plans for an initial public offering (IPO) following regulatory approval from Sebi. The offering comprises a fresh issue of up to 1.6 crore equity shares at Rs 10 per share, as outlined in their draft prospectus.

The company, founded in 2008 and headquartered in Navi Mumbai, intends to use the capital raised for working capital, debt repayment, and exploring growth opportunities. Prostarm operates three manufacturing plants in Maharashtra, producing under the 'Prostarm' brand, and has expanded into solar projects.

In the fiscal year 2024, Prostarm served over 700 clients, including major firms like Larsen & Toubro. Financially robust, the company saw an 18% increase in net profit to Rs 22.8 crore, with revenue growth of 12%. Their shares will be available on the BSE and NSE, managed by Choice Capital Advisors and KFin Technologies.