The initial public offering (IPO) of Prostarm Info Systems Ltd., an integrated power solution company, closed with a robust demand on Friday. The public issue was subscribed 97.2 times on its third day of bidding on Thursday, led by heavy demand from non-institutional investors.

The company announced a price band of Rs 95 to Rs 105 per share for its initial public offering. Prostarm Info Systems plans to allocate Rs 72.50 crore from the net proceeds of the fresh issue towards funding the company’s capital requirements.

The company intends to utilise Rs 17.95 crore for the payment of debt, while the remaining will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives, as well as for general corporate purposes.

Following the IPO subscription, the company is scheduled to finalise the share allotment status on May 30. Investors can check the allotment status for the IPO on the official websites of KFin Technologies Ltd., BSE and NSE.

Prostarm Info Systems IPO: Steps To Check Allotment Status On Kfin Technologies

  • Visit the IPO allotment page on the official website of the issue registrar, KFin Technologies, here – https://ipostatus.kfintech.com/

  • Select ‘Prostarm Info Systems Ltd..’ from the drop-down menu of IPOs. (Notably, the name of companies only appears after the share allotment status is finalised).

  • Choose any of the available options from the application number, Demat account, or PAN.

  • Enter details based on your selection.

  • Enter the Captcha code.

  • Click on the ‘Submit’ button to check details.

Prostarm Info Systems IPO: Steps To Check Allotment Status On NSE

  • Visit the IPO allotment page on the official NSE website here.

  • Click on the ‘Equity and SME IPO bid details’ option.

  • From the drop-down list of issue symbols, select the company symbol ‘PROSTARM’.

  • Provide PAN details and enter the application number.

  • Click on the ‘Submit’ button to check the allotment details.

Prostarm Info Systems IPO: Steps To Check Allotment Status On BSE

  • Open the BSE IPO allotment status page on the official BSE website here. 

  • Select ‘Equity’ as issue type.

  • From the drop-down menu, choose ‘Prostarm Info Systems Ltd.’

  • Mention your application number or PAN (Permanent Account Number) details.

  • Complete the ‘Captcha’ to verify yourself.

  • Click on the ‘Search’ button to check status.

Once IPO allotment status is finalised, Prostarm Info Systems will initiate refunds on June 2. Shares will be credited to the Demat accounts of successful bidders on the same day.

Prostarm Info Systems IPO Listing Date

Shares of Prostarm Info Systems Ltd. are most likely to be listed on the BSE and NSE on June 3.

Prostarm Info Systems IPO GMP Today

The latest grey market premium (GMP) for the Prostarm Info Systems IPO stood at Rs 20 as of 7:32 a.m. on May 30. As per the current GMP trends, the unlisted shares of Prostarm Info Systems were trading at Rs 125 apiece at the grey market. This indicates a 19.05% premium, compared to the upper end of the price band.

The GMP for the public issue was as high as Rs 25 when the IPO opened for subscription on May 27.

Note: GMP does not represent official data and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The latest grey market premium (GMP) for the Prostarm Info Systems IPO was Rs 20 on May 30, indicating a 19.05% premium, compared to the upper end of the price band.  Read MoreIPOs 

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