Prostarm Info Systems: Soaring Success on Debut
Prostarm Info Systems, an integrated power solution company, saw its shares soar over 20% on debut, closing above the issue price of Rs 105 at Rs 126.25 on BSE. The IPO was significantly oversubscribed, and funds raised will support capital needs, debt reduction, and strategic growth initiatives.
- Country:
- India
On Tuesday, shares of Prostarm Info Systems Ltd, an integrated power solutions provider, debuted with a substantial premium, closing over 20% above the issue price of Rs 105 on the BSE.
The IPO, which was well-received with a 97.20 times oversubscription, aimed to raise Rs 168 crore for capital expansion, debt payment, and strategic acquisition initiatives.
Prostarm, renowned for its UPS systems and power solutions, caters to diverse industries and operates multiple manufacturing facilities in Maharashtra.
(With inputs from agencies.)
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- Prostarm
- IPO
- shares
- power solution
- debut
- stock market
- BSE
- NSE
- valuation
- expansion
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