Prostarm Info Systems Gears Up for IPO Launch With Rs 168-Crore Target

Prostarm Info Systems Ltd is set to launch its Rs 168-crore initial public offering with a share price band of Rs 95-105. The IPO aims to fund capital requirements, pay off debts, and pursue strategic growth. The company specializes in power solutions for diverse industries.

Integrated power solution provider Prostarm Info Systems Ltd has announced a share price band of Rs 95-105 for its Rs 168-crore initial public offering (IPO). The IPO will open for subscription on May 27 and will close on May 29, with the anchor round set to open a day earlier on May 26.

The offering comprises a fresh issue of 1.6 crore equity shares with a face value of Rs 10 each, following the book-building route. The proceeds of Rs 72.50 crore will be directed towards funding the company's capital requirements, Rs 17.95 crore will be used for debt payment, and the remaining will support inorganic growth through acquisitions.

Prostarm Info Systems, specializing in UPS systems and lithium-ion battery packs, operates from three manufacturing sites in Maharashtra, serving over 700 clients, including prominent names like Larsen & Toubro and Tata Power. The company's shares are set for listing on BSE and NSE, with Choice Capital Advisors as the lead manager.

(With inputs from agencies.)