• Issue comprises fresh issue of up to 1,60,00,000 Equity Shares of face value ₹10 each. To utilise its net proceeds from the issue to fund working capital requirements, prepay or repay certain outstanding borrowings, pursue strategic growth through inorganic initiatives, and general corporate purposes
  • Established in 2008, the Navi-Mumbai headquartered company operates three manufacturing facilities in the state of Maharashtra besides a network of 22 branch offices and 2 storage facilities across 17 states and one union territory in India
  • Manufactures UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, isolation transformers and other power solution products
  • Also offers value-added services such as rooftop solar EPC services and A&M solutions. Caters to diverse end-use industries such as healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil & gas
  • Choice Capital Advisors Private Limited is the Book Running Lead Manager to the Offer, while KFIN Technologies Limited are the Registrar to the Offer

February 12, 2025 – Prostarm Info Systems Ltd, a Navi-Mumbai headquartered pan-Indian power solution products company, today announced it has received in-principle approval from market regulator, Securities Exchange Board of India (SEBI) to launch its initial public offering. The issue comprises fresh issue of up to 1,60,00,000 Equity Shares of face value ₹10 each and will be listed on BSE and NSE. Choice Capital Advisors Private Limited is the book-running lead manager, while KFin Technologies Ltd is the issue’s registrar.

As per the DRHP, the company plans to use the net proceeds of the issue for various activities such as funding working capital requirements, prepayment or repayment of certain outstanding borrowings, achieving inorganic growth opportunities, strategic initiatives, and general corporate purposes.

Established in 2008, the Thane-headquartered company operates three manufacturing facilities in the state of Maharashtra besides a network of 22 branch offices and 2 storage facilities across 17 states and one union territory in India. The company’s manufacturing units are accredited with ISO 9001:2015, ISO14001:2015, ISO 45001:2018 and ISO 50001:2018 standards. The company manufactures several power solution products under the Prostarm brand, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers. It also undertakes rooftop solar photovoltaic power plant projects on an EPC basis, as well as AMCs.

Over the years, the company has catered to diverse end-use industries such as healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil & gas. The company catered to over 700 clients during FY24, including marquee players such as Larsen & Toubro Limited, Tata Power Co. Limited and Bajaj Finance Limited. As on date, Prostarm is an empanelled vendor for Airports Authority of India; Central Public Works Department, Patna Bihar; Public Works Department, New Delhi; West Bengal Public Health Engineering Department; West Bengal Electronic Industry Development Corporation Limited; Telangana State Technology Services Limited; Railtel Corporation of India Limited; and NTPC Vidyut Vyapar and Nigam Limited.

For the fiscal year 2024, the company’s net profit rose 18% to Rs 22.80 crore from Rs 19.30 crore in the previous fiscal year. Revenue from operations increased by 12% to Rs 257.9 crore during the period under review, while EBITDA (earnings before interest, tax, depreciation, and amortisation) jumped 30% to Rs 35.3 crore, and margin expanded by 190 bps to 13.7% compared to the previous fiscal year 2023. UPS systems accounted for 39% of the company’s revenues, while Third-Party Power Solution Products accounted for another 30% in FY24.

Founded by Ram Agarwal, a first-generation entrepreneur with 16+ years of experience in electrical and electronic control, energy storage, power conditioning and power consumption solutions industry. Prostarm Info Systems’s promoter group comprises of Ram Agarwal, Sonu Ram Agarwal, and Vikas Shyamsunder Agarwal, who hold 30% (over 1.28 crore shares), 20% (over 85.74 lakh shares), and 33% (over 1.41 crore shares), respectively. The company employs 411 people, including 189 on a contractual basis.