India's Prostarm Info surges 19% in trading debut
03/06/2025 08:26
** Prostarm Info Systems PRON.NS jumps 19.02% to 124.97 rupees on first day of trading ** PRON makes uninterruptible power supply machines (UPS) and inverters ** Stock opened at 120 rupees vs issue price of 105 rupees ** Co valued at $86.2 million as of 12:53 p.m. IST ** Its IPO consisted solely of fresh issue of 16 million shares ** IPO was subscribed 97.2 times; portion set aside for non-institutional investors subscribed 222.14 times, qualified institutional buyers subscribed 104.49x, retail investors' portion subscribed 166.81x ** Proceeds will be used for repayment of borrowings, funding capital requirements and general corporate purposes (Reporting by Manvi Pant in Bengaluru) ((Manvi.Pant@thomsonreuters.com; +918447554364;))
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