Prostarm Info Systems Limited has received in-principle approval from BSE Limited for the preferential issue of up to 28,98,717 warrants convertible into equity shares. The approval, dated October 1, 2026, allows the company to issue these instruments to non-promoters at a price of ₹147 per share.

Regulatory Clearance Details

The company confirmed the receipt of this approval in a filing to stock exchanges on October 1, 2026. The clearance was granted under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The specific reference number for the BSE letter is LOD/PREF/GB/FIP/873/2026-27.

This in-principle approval is a procedural step required before the final allotment of securities can proceed. The warrants are structured to be fully convertible into equity shares upon exercise, subject to regulatory and shareholder approvals as applicable under the Companies Act and SEBI regulations.

Issue Specifics

The proposed preferential issue targets non-promoter entities. The key parameters of the transaction are outlined below:

The total potential capital raise from this issue, if fully subscribed at the stated price, would amount to approximately ₹42.6 crore, though the exact proceeds depend on the final number of warrants allotted and exercised.

Compliance and Sign-off

The intimation was signed by Sachin Gupta, Company Secretary and Compliance Officer for Prostarm Info Systems. The digital signature was recorded on October 1, 2026, at 18:09:12 +05'30'. The company stated that this disclosure is made for the information of all stakeholders.

Prostarm Info Systems has cancelled its Memorandum of Understanding (MOU) with Shenzhen Topband Co. Ltd. for a Battery Energy Storage System (BESS) manufacturing project. The decision follows an evaluation that determined the proposed project was not technically and economically feasible.

Cancellation details and rationale

The company stated that the cancellation was driven by technical and economic challenges associated with the BESS project. Additionally, changes in the prevailing business and market environment, along with consequent strategic realignment and business priorities, led to the discontinuation of the proposed project. The MOU, originally intimated on April 7, 2026, now stands cancelled.

Company's position

Prostarm Info Systems confirmed that despite the cancellation of the BESS agreement with Shenzhen Topband, its overall operations remain unaffected. The company noted there is no material financial or operational impact arising from this decision. Prostarm continues to evaluate and pursue business opportunities in line with its strategic objectives and prevailing market conditions.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0BX301013/3b536ab2-4883-4501-b972-5581ca67a41b.pdf