Prostarm Info Systems IPO Sees 8.07x Subscription on Day 2, Driven by HNI and Retail Demand
By Ankur Chandra | Updated at: May 31, 2025 10:46 PM IST
Mumbai, May 28, 2025: Prostarm Info Systems Limited’s ₹168 crore IPO has garnered strong investor interest, particularly from non-institutional investors (NIIs) and retail individual investors (RIIs), with the issue subscribed 8.07 times by the second day of bidding.
The public offering, which opened on May 27 and will close on May 29, attracted bids for 9.04 crore equity shares, against 1.12 crore shares on offer.
IPO Details
| Detail | Information |
|---|---|
| Issue Period | May 27, 2025 – May 29, 2025 |
| Price Band | ₹95 – ₹105 |
| Issue Size | ₹168 crore (1.6 crore equity shares) |
| Lot Size | 142 equity shares |
| Listing Exchange | NSE and BSE (BSE as designated exchange) |
| Allotment Date (Tentative) | June 3, 2025 |
| Listing Date (Tentative) | June 5, 2025 |
Subscription Status (as of May 28, 12:48 PM)
| Investor Category | Shares Reserved | Bids Received | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 32,00,000 | 28,53,916 | 0.89× |
| Non-Institutional Investors (NIIs) | 24,00,000 | 3,70,55,894 | 15.44× |
| – Above ₹10 lakh | 16,00,000 | 2,32,54,630 | 14.53× |
| – ₹2 lakh to ₹10 lakh | 8,00,000 | 1,38,01,264 | 17.25× |
| Retail Individual Investors (RIIs) | 56,00,000 | 5,03,48,656 | 8.99× |
| Total | 1,12,00,000 | 9,04,22,902 | 8.07× |
Retail demand was particularly strong, with over 4.4 crore bids placed at the cut-off price alone.
Price-Wise Bidding Trends
Investor interest peaked at the lower end of the price band: Below is a breakdown of cumulative demand at various price points:
| Bid Price (₹) | Shares Bid For |
|---|---|
| 95 | 9,04,22,902 |
| 96 | 9,02,89,280 |
| 97 | 9,02,78,772 |
| 98 | 9,02,69,116 |
| 99 | 9,02,61,448 |
| 100 | 9,02,54,064 |
| 101 | 9,01,73,976 |
| 102 | 9,01,62,900 |
| 103 | 9,01,53,954 |
| 104 | 9,01,36,914 |
| 105 | 9,00,95,876 |
| Cut-off Price | 4,40,62,600 |
Key Insights
- HNIs, especially those bidding above ₹10 lakh, drove much of the volume, with over 15x subscription.
- Retail interest remained robust, with a near 9x oversubscription.
- QIB demand was moderate at 0.89x but may pick up on the final day.
The IPO is managed by Choice Capital Advisors Private Limited, with KFin Technologies Limited serving as registrar.
What’s Next
As bidding heads into the final day, attention shifts to QIB participation. The IPO is expected to conclude strongly, with a tentative listing scheduled for June 5, 2025, on both the NSE and BSE.
Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.
