By IndiaHub 
Meanwhile, the stock listed at Rs 120 on NSE, indicating gains of 14%.
The company, which offers power backup and energy management solutions, recently concluded its initial public offering (IPO) with strong investor demand.
As of the latest update, the grey market premium (GMP) for Prostarm Info Systems stands at Rs 12. With the IPO priced at Rs 105 per share (the upper end of the price band), the stock is expected to list around Rs 117, indicating a potential listing gain of 11.43%.
If grey market trends hold, Prostarm Info Systems may deliver a healthy debut and reinforce confidence in IPOs amid a buzzing primary market.
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The IPO, which was open between May 27 and May 29, aimed to raise Rs 168 crore entirely through a fresh issue. The offering saw strong participation, particularly from non-institutional investors. According to exchange data, the issue was oversubscribed 12.61 times in total, with retail and HNI categories seeing heavy bidding.
Prostarm Info Systems is known for its end-to-end solutions in power conditioning, energy storage, UPS systems, lithium-ion batteries, and solar hybrid solutions. The company serves a diverse client base across industries, including defence, banking, education, and government. Its clients include NTPC Vidyut Vyapar Nigam, Airports Authority of India, and Railtel.
The IPO proceeds will be used to fund working capital needs, repay debt, pursue acquisitions, and support general corporate expenses. Choice Capital Advisors was the lead manager of the issue, and KFin Technologies is acting as the registrar.
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The company has demonstrated healthy financial growth over the past few financial years. Revenue rose from Rs 232 crore in FY23 to Rs 259 crore in FY24, and it reported Rs 270 crore in total income in the first nine months of FY25. Net profit for the nine-month period stood at Rs 22.11 crore, nearly matching its full FY24 profit.
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