Prostarm grants 3.21 lakh ESOPs at Rs.50 each

Prostarm Info Systems Limited has approved the grant of 3,21,750 Employee Stock Options to an eligible employee, including those of a subsidiary company. The decision was made by the company's Nomination and Remuneration Committee during its meeting on May 22, 2026, under the 'Prostarm Employee Stock Option Plan 2024' (ESOP 2024).

The options granted correspond to 3,21,750 equity shares of Rs.10 each. The exercise price for these options has been fixed at Rs.50 per share. The scheme is compliant with the Securities and Exchange Board of India (SBEB) Regulations, 2014, and the SEBI (SBEBSE) Regulations, 2021.

Key Details of the Grant

The following table outlines the specific details regarding the grant of options:

Particulars	Details
Options Granted	3,21,750
Shares Covered	3,21,750 equity shares of Rs.10 each
Exercise Price	Rs.50 per option
Vesting Period	As per grant letter and ESOP 2024
Exercise Period	Within 1 year from date of vesting

Terms and Conditions

The options granted will vest in accordance with the conditions specified in the grant letter and the ESOP 2024. There is no lock-in period applicable to the equity shares arising from the exercise of these options. Once allotted, these shares will rank pari-passu with existing equity shares of the company.

In the event of corporate actions such as a rights issue, bonus issue, sub-division, consolidation, or merger, the company will make reasonable adjustments to the number of options and/or the exercise price as per the provisions of ESOP 2024.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.47%	+1.78%	-11.41%	-21.15%	+23.62%	+12.38%

Prostarm Info Systems Limited has filed a revised Monitoring Agency Report for the quarter ended March 31, 2026 (Q4 FY2025-26), pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report was prepared by Acuité Ratings and Research Limited, the appointed Monitoring Agency, to oversee the utilization of proceeds from the company's Initial Public Offering. The company clarified that the revised submission was necessitated by the inadvertent attachment of an unsigned copy in the earlier intimation, and that the contents of the report remain unchanged.

IPO Issue Overview

The company, which operates in the Other Electrical Equipment / Capital Goods sector, conducted its public issue during May 27, 2025 to May 29, 2025. The key details of the issue are summarized below:

Parameter:	Details
Issue Period:	May 27, 2025 to May 29, 2025
Type of Issue:	Public Issue
Type of Securities:	Equity Shares
Issue Size:	INR 168.000 Cr.
Monitoring Agency:	Acuité Ratings and Research Limited

Utilization of IPO Proceeds

The Monitoring Agency reviewed the deployment of IPO proceeds across all stated objects as at the end of Q4 FY2025-26. The report indicates that the majority of funds have been fully utilized, with one object remaining pending. The following table captures the progress in utilization:

Item Head:	Amount Proposed [INR Cr.]	Amount Raised [INR Cr.]	Utilized at End of Quarter [INR Cr.]	Unutilized [INR Cr.]
Funding working capital requirements:	72.500	72.500	72.500	Nil
Prepayment/repayment of outstanding borrowings:	17.958	17.958	17.958	Nil
Inorganic growth through unidentified acquisitions & strategic initiatives:	12.483	12.483	-	12.483
General Corporate Purposes:	42.000	42.000	42.000	Nil
Issue Expense:	23.059	23.059	23.059	Nil
Total:	168.000	168.000	155.517	12.483

General Corporate Purpose Utilization

The INR 42.000 Cr. allocated under General Corporate Purposes was fully utilized by the end of the quarter. The breakdown of its deployment is as follows:

Item Head:	Amount [INR Cr.]
For Working Capital:	28.81
For Capacity Expansion:	13.19
Total:	42.000

The Monitoring Agency confirmed that the company had fully utilized the funds allocated towards these objects.

Delay in Inorganic Growth Object and Deployment of Unutilized Funds

A delay of 43 days (as on the Monitoring Agency report date) was noted in the implementation of the inorganic growth object, which had a completion date of March 31, 2026, as per the offer document. The object is yet to start. The Board of Directors stated that despite a detailed evaluation of domestic and international acquisition opportunities, no opportunity was identified that met the company's desired strategic and financial parameters, resulting in the temporary non-utilization of these funds.

The INR 12.483 Cr. in unutilized proceeds has been deployed in fixed deposits, as detailed below:

Instrument & Account:	Amount Invested [INR Cr.]	Maturity Date	Earning [INR Cr.]	Return on Investment (%)	Market Value at End of Quarter [INR Cr.]
Fixed Deposit – ICICI Bank (280213015400):	5.403	09-12-2026	0.011	6.25	5.51
Fixed Deposit – ICICI Bank (280213015399):	6.000	09-12-2026	0.012	6.25	6.12
Fixed Deposit – ICICI Bank (280213015413):	1.080	11-06-2027	0.002	6.40	1.10
Total:	12.483		0.025		12.73

The company's management has proposed redeployment of the unutilized IPO proceeds towards funding working capital requirements and is in the process of seeking requisite shareholder approval for the same. The Board noted that any future inorganic growth or strategic opportunities will be considered for funding through internal accruals or other permissible sources.

Monitoring Agency Findings

The Monitoring Agency, Acuité Ratings and Research Limited, confirmed that no material deviation from the objects of the issue was observed, and no change in the means of finance was noted. Key findings from the compliance review are summarized below:

Deviation from objects: No deviation observed
Material deviation requiring shareholder approval: Not applicable
Change in means of finance: No change observed
Favorable/unfavorable events affecting viability: None observed
Government/statutory approvals: Not required for the stated objects
Information materially affecting investor decision-making: None evident

The report was signed by Vikas Mishra, Deputy Vice President – Process Excellence, Acuité Ratings and Research Limited, and submitted on behalf of Prostarm Info Systems by Sachin Gupta, Company Secretary and Compliance Officer (Membership No: F12500).