Prostarm Info Systems IPO Oversubscribed: A Booming Start in Power Solutions

Prostarm Info Systems Ltd, an integrated power solutions company, saw its initial public offering (IPO) fully subscribed at 3.54 times on the very first day of bidding.

The Rs 168-crore IPO, which aims to fund capital requirements, debt repayment, and support strategic growth through acquisitions, attracted bids for almost 4 million shares against the 1.12 million on offer. The non-institutional investors led with a 6.82 times subscription, while the retail individual investors (RIIs) and qualified institutional buyers (QIBs) showed substantial interest too.

Prostarm caters to a wide range of industries with an extensive product lineup, including UPS systems and lithium-ion battery packs. The company's shares are expected to be listed on the BSE and NSE soon.

(With inputs from agencies.)