UPS and inverter maker Prostarm Info Systems has raised Rs 50.4 crore via anchor book on May 26, a day before the IPO opening. The public issue will open for subscription on May 27 and close on May 29.
The Maharashtra-based power solution products maker is raising Rs 168 crore via initial public offering (IPO) which consists of entirely fresh issue of 1.6 crore equity shares. The price band for the offer has been fixed at Rs 95-105 per share.
Prostarm Info Systems in its filing to exchanges said it has finalised allocation of 48 lakh equity shares to anchor investors at a price of Rs 105 per equity share.
Chattisgarh Investment, Astrone Capital, Steptrade Revolution Fund, Abundantia Capital, and Swyom India Alpha Fund were amongst eight institutional investors participated in the anchor book.
The company intends to utilise IPO proceeds for working capital requirements, repayment of debt, and inorganic growth through unidentified acquisitions.
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Choice Capital Advisors is acting as the book running lead manager to Prostarm Info Systems IPO.
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