May 27, 2025: Prostarm Info Systems Limited, a Thane-headquartered pan-Indian power solution products company, has successfully completed its Anchor book subscription, raising ₹50.4 crore through the sale of 48 Lakh equity shares priced at ₹105/- each.
A group of marquee investors, including Chattisgarh Investment Limited, Astrone Capital VCC ARVEN, Santosh Industries Limited, Steptrade Revolution Fund, Vikasa India EIF I Fund – Share Class P, Abundantia Capital VCC – Abundantia Capital III, Swyom India Alpha Fund and Meru Investment Fund PCC – Cell 1 subscribed to the anchor book.
While Chattisgarh Investment Limited and Astrone Capital VCC ARVEN subscribed 19.84% each of the anchor book, Santosh Industries Limited subscribed 10.71%, Steptrade Revolution Fund, Vikasa India EIF I Fund – Share Class P, Abundantia Capital VCC – Abundantia Capital III, Swyom India Alpha Fund and Meru Investment Fund PCC – Cell 1 subscribed 9.92% each of the anchor book portion.
The Thane-based company’s IPO begins today, May 27, and will conclude on Thursday, May 29, 2025. Prostarm Info Systems Limited is looking to raise approximately ₹160 crore from the offering. The company intends to utilise ₹72.50 crore of the total proceeds towards funding capital requirements of the company, ₹17.95 crore for repayment/prepayment of all or a portion of certain outstanding borrowings availed by the company and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives and for general corporate purposes.
The price band of the issue is ₹95-105/- per equity share with a face value of ₹10/- apiece. The company’s IPO comprises a fresh issue of 1.6 crore Equity Shares with a face value of ₹10/- through the book-building route. Choice Capital Advisors Private Limited is the Book Running Lead Manager, and Kfin Technologies Limited is the Registrar to the offer.