Prostarm Info Systems IPO Gains Momentum: Over 3.5 Times Subscribed on Day 2
By ScanX News Team
Prostarm Info Systems Ltd's IPO has seen strong investor interest, with subscription levels exceeding 3.5 times on the second day. The company aims to raise ₹168 crore by offering 1.60 crore shares at a price band of ₹95-₹105 per share. The subscription period ends on May 29, 2023. Both retail and non-institutional investors have shown significant demand. Upon successful completion, the company plans to list on BSE and NSE.
*this image is generated using AI for illustrative purposes only.
Prostarm Info Systems Ltd's Initial Public Offering (IPO) has garnered significant attention from investors, with subscription levels exceeding 3.5 times on the second day of the issue. The strong demand signals robust investor interest in the company's public debut.
IPO Details
| Item | Detail |
|---|---|
| Price Band | ₹95.00 - ₹105.00 per share |
| Issue Size | 1.60 crore shares |
| Total Fundraise Target | ₹168.00 crore |
| Subscription Period | Concludes on May 29, 2023 |
Investor Response
The IPO has witnessed enthusiastic participation from various investor categories:
- Retail Investors: Showed strong interest
- Non-Institutional Investors: Demonstrated significant demand
This overwhelming response on the second day builds upon the momentum gained during the first day of the subscription period.
Listing Plans
Upon successful completion of the IPO, Prostarm Info Systems Ltd plans to list its shares on two major Indian stock exchanges:
- Bombay Stock Exchange (BSE)
- National Stock Exchange (NSE)
The listing on these prominent exchanges is expected to provide liquidity and trading opportunities for investors.
Company Overview
Prostarm Info Systems Ltd is entering the public market through this fresh issue of shares. While specific details about the company's operations and financials are not provided in the current data, the strong investor interest suggests positive sentiment towards the company's business model and growth prospects.
Market Implications
The robust demand for Prostarm Info Systems' IPO reflects the current appetite for new listings in the Indian stock market. It also indicates investor confidence in the technology and information systems sector, where Prostarm Info Systems likely operates.
As the IPO enters its final stages, market participants will be keenly watching the final subscription figures and the eventual listing performance of the shares. The success of this IPO could potentially set a positive tone for other companies planning to go public in the near future.
Investors and market analysts will be closely monitoring the company's performance post-listing, as it transitions from a private entity to a publicly-traded company on the BSE and NSE.
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