Overview

• Investors bid for 48.95 crore shares against 1.12 crore on offer, marking a 43.20-times subscription by May 29 afternoon
• The IPO was priced in a Rs 95–105 band, with unlisted shares changing hands at about Rs 129 in the grey market
• Prostarm will allocate Rs 72.5 crore of net proceeds to capital expenditure, Rs 17.95 crore to debt repayment and the balance to strategic acquisitions
• Brokerages including Anand Rathi and Bajaj Broking have advised long-term subscriptions, citing the company’s diverse power-solutions portfolio and robust clientele
• Following allotment on May 30, shares are slated to list on the BSE and NSE on June 3