Power The IPO of Solutions Products, the manufacturer of Solutions Products, was listed in the stock market today. The company’s shares on BSE were listed at a price of Rs 125 with a premium of 19 percent from its issue price. Shortly after the listing, the shares of Prostarm Info Systems rose 23.80 percent to Rs 130. The company’s shares on NSE started at a price of Rs 120 with a premium of 14.28 percent. Let us tell you that under its IPO, the company had allotted each stocks with a face value of Rs 10 at a price of Rs 105.
How many shares have been issued under IPO
Prostarm Info Systems shares were trading at Rs 124.50 at Rs 124.50 at 01.08 pm on Tuesday at Rs 124.50 from their listing price on BSE by Rs 0.50 (0.40%). However, he was 18.57 percent above its issue price. Let us tell you that the company has raised Rs 168 crore under its IPO and according to BSE data, the company’s current market cap is Rs 732.99 crore. Prostarm Info Systems issued all 1,60,00,000 new shares for Rs 168 crore.
How much subscription was received by the IPO of Prostarm Info Systems
The IPO of Prostarm Info Systems was opened on Tuesday, 27 May and closed on Thursday 29 May. The company had fixed a price band of Rs 95 to Rs 105 for each stock under the IPO. The company’s IPO received a great response from investors. This IPO received a total subscription of 97.20 times. Out of the Rs 168 crore received from the Prostarm Info Systems IPO, Rs 72.50 crore will be used for capital needs and Rs 17.95 crore for loan payment. While the remaining money will be used for acquisition and other strategic initiatives.
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