Prostarm Info Systems IPO Allotment Finalized Today Amid Strong Investor Interest
By ScanX News Team
Prostarm Info Systems Limited concludes its Rs 168.00 crore IPO with share allotment today. The issue was oversubscribed 97 times. Shares are expected to be credited to demat accounts by June 2, with listing on BSE and NSE scheduled for June 3. The issue price is Rs 105.00 per share, with a grey market premium suggesting a potential listing price of Rs 125.00, indicating a possible 19.05% increase.
*this image is generated using AI for illustrative purposes only.
Prostarm Info Systems Limited, a rising player in the IT sector, is set to conclude its Initial Public Offering (IPO) process with the finalization of share allotment today. The Rs 168.00 crore IPO has garnered significant attention from investors, reflecting robust demand in the primary market.
Subscription Details
The IPO, which closed on May 29, witnessed an overwhelming response from investors. The issue was oversubscribed by an impressive 97 times, indicating strong market confidence in the company's prospects and potential for growth.
Allotment and Listing Schedule
| Event | Date |
|---|---|
| Allotment Date | May 30 (Today) |
| Demat Account Crediting | Expected by June 2 |
| Listing Date | Scheduled for June 3 |
| Listing Venues | BSE and NSE |
IPO Pricing and Market Sentiment
| Item | Value |
|---|---|
| Issue Price | Rs 105.00 per share |
| Grey Market Premium | Suggests a potential listing price of Rs 125.00 |
| Projected Gains | Indicates a possible 19.05% increase from the issue price |
The grey market premium, often considered an unofficial indicator of market sentiment, hints at a positive listing for Prostarm Info Systems. However, investors should note that grey market trends are not always reliable predictors of actual market performance.
Investor Action Points
- Allotment Status: Applicants can check their allotment status today through the registrar's website or their respective broking platforms.
- Demat Account: Successful applicants should expect shares to be credited to their demat accounts by June 2.
- Market Debut: Keep an eye on the stock's performance as it lists on BSE and NSE on June 3.
The strong oversubscription of Prostarm Info Systems' IPO reflects the current bullish sentiment in the Indian primary market, particularly for companies in the technology sector. As always, investors are advised to make informed decisions based on their own research and risk appetite.
Note: Share prices and market trends mentioned in this article are based on the information available at the time of writing and are subject to change.
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