Prostarm Info Systems IPO GMP: Public Issue Attracts Strong Bidding On Day 2 - What Grey Market Premium Indicates

Prostarm Info Systems' Initial Public Offering (IPO) is drawing considerable investor interest, with the issue seeing nearly 10 times subscription by the second day of bidding. As of 2:50 PM on May 28, investors had placed bids for over 11 crore equity shares, compared to just 1.12 crore shares on offer, taking the overall subscription rate to 9.89 times.

Prostarm Info Systems IPO: GMP 

In the grey market, Prostarm’s shares continue to trade at a premium. As of Wednesday, the grey market premium (GMP) stood at Rs 19 per share, as per market watchers. Based on this premium, the anticipated listing price could be around Rs 124, suggesting a potential upside of nearly 18.19 percent over the issue’s upper price limit.

Prostarm Info Systems IPO: Categorywise response

Retail investors continued to show strong enthusiasm for the offer, subscribing to their allotted portion 10.75 times by the end of the second day. The Non-Institutional Investor (NII) category registered even more robust demand, with applications covering 18.78 times the quota reserved for high-net-worth individuals. Meanwhile, the response from qualified institutional buyers (QIBs) remained moderate, with the category subscribed at 0.93 times so far.

Also Read: Prostarm Info Systems IPO Day 1: Check GMP Today, Date, Price Band, Lot Size, And Important Details | Republic World

Prostarm Info Systems IPO: Issue size, price band and listing date

Launched on May 27, the IPO is set to close on May 29. The public issue is worth Rs 168 crore and is priced in the range of Rs 95 to Rs 105 per share. Investors are required to apply for a minimum of 142 shares, translating to a minimum investment of Rs 14,910 at the upper end of the price band. The company’s shares are expected to be listed on both the BSE and NSE on June 3, 2025.

About the company 

Founded in 2008, Prostarm Info Systems provides integrated power solutions such as energy storage systems and power conditioning equipment. Its client base spans critical sectors including healthcare, banking, aviation, and renewable energy. Financially, the company has shown a steady upward trajectory. In FY24, Prostarm reported a net profit of Rs 22.8 crore, up 18 percent year-on-year, while its revenue grew 12 percent to Rs 258 crore.