| Basis of Allotment |
THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, OUTSIDE INDIA. INITIAL PUBLIC OFFER OF EQUITY SHARES ON THE MAIN BOARD OF BSE LIMITED ("BSE") AND NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE"), (AND TOGETHER WITH BSE, THE "STOCK EXCHANGES") IN COMPLIANCE WITH CHAPTER II OF THE SECURTIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018, AS AMENDED ("SEBIICDR REGULATIONS")
|
| PROSTARM INFO SYSTEMS LIMITED |
Our Company was originally incorporated as a private limited company under the name "Prostar Micronova Power Systems Private Limited" under the Companies Act, 1956, pursuant to a certificate of incorporation dated January 11,2008, issued by the Registrar of Companies, Maharashtra, Pune. Thereafter, our Company was converted into a public limited company, as approved by our Board on March 8.2017, and a special resolution passed by our shareholders. at the EGM held on March 17,2017, and the name of our Company was changed to "Prostar Micronova Power Systems Limited", and a fresh certificate of incorporation dated May 26,2017 consequent upon change of name on conversion to public limited company was issued by the Registrar of Companies, Maharashtra, Pune. Subsequently, the name of our Company was changed to "Prostarm Info Systems Limited", as approved by our Board on June 27,2017 and a special resolution passed by our shareholders at the EGM held on July 10,2017, and a fresh certificate of incorporation dated July 28,2017 consequent upon change of name was issued by the Registrar of Companies, Maharashtra, Pune. For details of change in the name and registered office of our Company, see "History and Certain Corporate Matters'' on page 254 of the Red Herring Prospectus dated —(RHP) filed with the ROC.
| CIN : U31900MH2008PLC368540: |
| Registered Office: Plot No. EL 79, Electronic Zone, TTC, MIDC, Mahape Navi Mumbai, Thane 400 710, Maharashtra, India. |
| Telephone: 022 4528 0500 Contact Person: Sachin Gupta, Company Secretary and Compliance Officer; E mail: cs@prostarm.com; Website: www.prostarm.com |
| PROMOTERS OF OUR COMPANY: RAM AGARWAL, SONU RAM AGARWAL AND VIKAS SHYAMSUNDER AGARWAL |
Our Company has filed the Prospectus dated May 30,2025 with the ROC, and the Equity Shares are proposed to be listed on the BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") and trading is expected to commence on June 03, 2025.
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF UP To 1,60,00,000* EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF PROSTARM INFO SYSTEMS LIMITED ("OUR COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs 105 PER EQUITY SHARE (INCLUDING A SECURITIES PREMIUM OF Rs 95 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING UP TO Rs 16,800 LAKHS ("THE ISSUE"). THE ISSUE SHALL CONSTITUTE 27.18% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
| ANCHOR INVESTOR ISSUE PRICE: Rs 105 PER EQUITY SHARE OF FACE VALUE OF Rs 10 EACH |
| ISSUE PRICE: Rs105 PER EQUITY SHARE OF FACE VALUE OF Rs 10 EACH |
| THE ISSUE PRICE IS 10.5 TIMES OF THE FACE VALUE OF EQUITY SHARES |
| RISK TO INVESTORS |
For details refer to section titled "Risk Factors" on page 35 of the RHP
A. Risk to Investors:
1. Customs violation notice impact- Our Company received a show cause notice (SON) on May 21,2024, under the Customs Act, 1962, alleging wrongful exemption of basic customs duty (BCD) on imported UPS units. Authorities claim that the UPS units do not qualify for exemption under Notification No. 25/2005-Cus meant for static converters for ADP machines. The SCN demands recovery of Rs 24.91 crores in differential duty, interest, and proposes confiscation of goods worth over Rs 98 crores. A provisional release was granted upon submission of Rs 35.80 lakhs and a Rs 50 lakh bank guarantee. The Company argues that the UPS units are compatible with ADP machines and qualifies for exemption, supported by legal precedents. It has submitted replies requesting complete documentation and a personal hearing. The Company believes it has a strong legal position but adverse orders could significantly impact its financial condition. Proceedings remain pending before the Commissioner of Customs.
2. Customer Concentration risk- A significant portion of our revenue is concentrated among a few key customers, with the top 10 customers contributing 71.80%, 51.88%, 39.60% and 44.30% amounting to Rs 19,287.55 lakhs, Rs13,379.69 lakhs, Rs9,122.64 lakhs and Rs7,588.31 lakhs in the nine-month period ended December 31,2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022 respectively. We rely on varied sales channels including GeM/Tender, dealers/distributors, and OEMs, but lack long-term contracts. Loss of any major customer or disruption in these channels could materially impact our revenue, operations, and financial health.
3. Risks Related to Dealer and Distributor Relationships- We heavily rely upon our network of third-party dealers or distributors for a significant portion of our sales and distribution operations within India. As of the nine-month period ended December 31,2024, March 31,2024, March 31,2023 and March 31,2022, our distribution network comprised of 360,478,539 and 469 dealers and distributors respectively, spread across the country to whom we sell our products for further sale and distribution to end customers or resellers. Disruptions in these relationships, including defaults, data inaccuracies, or shift in business focus, can adversely affect our operations. Past instances of payment defaults and cheque dishonours have led to legal action, indicating potential vulnerabilities in this channel.
4. Supplier Dependency and Raw Material Price Risk- We are highly dependent on a limited number of domestic and international suppliers, particularly from India and China, for critical materials and components like batteries, lithium- ion cells, and UPS parts. Our Company has imported 5.28%, 26.99%, 10.41% and 17.39% of our total purchases from China in the nine-month period ended December 31,2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively. Disruptions in supply, price volatility, or quality issues can adversely affect our production, margins, and overall business performance. Our Company's top 10 suppliers has contributed 87.02%,79.72%,85.14% and 91.90% to overall purchases amounting to Rs 16,621.26 lakhs, Rs15,740.72 lakhs, Rs15,020.68 lakhs and Rs13,198.36 lakhs in the nine-month period ended December 31, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022 respectively Geopolitical factors, import restrictions, and supply chain constraints may further impact our operations and financial condition.
5. Regulatory Compliance Issues and Past Show Cause Notices- We have received show cause notices from the Registrar of Companies and the Employees' Provident Fund Organization alleging non-compliance with respective laws, including delays in statutory filings and payments. While responses have been submitted and partial payments made, some issues, such as a Rs 2.83 lakh provident fund liability, remain under resolution. There have also been historical delays in GST, EPF, ESIC, and other statutory payments. Corrective steps have been initiated to prevent future non-compliance.
6. Negative Operating Cash Flows- The company has experienced negative operating cash flows of Rs 1,350.31 lakhs, Rs780.18 lakhs, and Rs1,053.45 lakhs in Fiscal 2023, Fiscal 2024, and the nine-month period ended December 31,2024, respectively. These negative cash flows were primarily driven by increased working capital needs, rising trade receivables, and higher inventories. Despite efforts to manage cash flows, future negative cash flows could affect financial stability and business operations.
7. Substantial revenue from UPS and Third Party Power Solution and Other Product Sales- A significant portion of the company's revenue comes from the sale of its UPS systems and third-party power solution products, including batteries and IT assets. Sale of UPS system contributed revenue of 4,673.43 lakhs, Rs 10,054.82 lakhs, Rs 6,784.51lakhs and Rs 6,483.51 constituting 17.40%, 38.99%, 29.45% and 37.85% of total revenue from operations for nine-month period ended December 31, 2024 and the Fiscal 2024, Fiscal 2023 and Fiscal 2022. Further, we also derive a substantial portion of revenue from the sale of third party power solution products and other products, including IT assets, batteries. Sale of third party power solution products and other products contributed revenue of Rs 17,047.79 lakhs, Rs 7,831.44 lakhs, Rs 12,486.65 lakhs and Rs 9,632.06 lakhs constituting 63.46%, 30.37%, 54.20% and 56.23% of total revenue from operations for the nine-month period ended December 31, 2024 and the Fiscal 2024, Fiscal 2023 and Fiscal 2022. Any reduction in demand for these products, or shifts to other suppliers, could materially affect its financial condition, operations, and cash flows.
8. Ongoing Legal Proceedings- The company, along with its promoters, directors, subsidiary, and key management personnel, is involved in several legal proceedings across various courts and forums. These include criminal, civil, and tax-related cases, with a total amount involved of approximately Rs3,076.43 lakhs. Adverse rulings in these cases could lead to financial losses, reputational damage, and operational disruptions, impacting the company's business, profitability, and ability to secure future contracts or licenses.
9. Underutilization of Manufacturing Capacity- Presently, our manufacturing units are not operating at optimum capacity utilization. While we seek to increase the capacity utilization levels, there can be no assurance that demand for our products will grow at expected rates or that we will be successful in capturing this increase in demand.
10. Import Risk for Lithium-ion cells- Our ability to manufacture lithium battery pack is significantly dependent on import of lithium-ion cells on purchase order basis. Any slowdown in the Chinese economy or adverse developments in the relationship between the India and China could have an adverse impact on the trade relations between the two countries and a strained trade relations could adversely impact our supply of such lithium-ion cells. Further, import of lithium-ion cells may be affected due to certain external factors such as currency fluctuations and unfavourable economic conditions, increased tariffs, force majeure and other economic or political conditions.
11. Geographical Concentration Risk - Maharashtra Operations-As on the date of this Red Herring Prospectus, we are operating three manufacturing units out of which, two are situated in Pisoli, Pune, Maharashtra and one is situated in Mahape, Mumbai, Maharashtra. Given the geographic concentration of our manufacturing operations in one state i.e. Maharashtra, our operations are susceptible to disruptions which may be caused by certain local and regional factors, including but not limited to political, economic and weather conditions, natural disasters, demographic factors, and other unforeseen events and circumstances.
12. OTHER RISK
• Average Cost of Acquisition of Equity Shares by our Promoters:
| Name of the Promoter | Number of Equity Shares held | Average cost per Equity Share (Rs) |
| Ram Agarwal | 1,23,62,378 | 1.19 |
| Sonu Ram Agarwal | 85,74,938 | 0.01 |
| Vikas Shyamsunder Agarwal | 1,41,47,029 | 0.33 |
Weighted average cost of acquisition of all shares transacted in (i) last one (1) year; (ii) last eighteen (18) months and (iii) last three (3) years preceding the date of this Red Herring Prospectus
| Period | WACA (in Rs) | Cap Price is ‘X' times the Weighted Average Cost of Acquisition | Range of acquisition price: lowest price- highest price (Rs) |
| Last one (1) year preceding the date of this Red Herring Prospectus | NA | NA | NA |
| Last eighteen (18) months preceding the date of this Red Herring Prospectus | Nil# | Nil# | Nil# |
| Last three (3) years preceding the date of this Red Herring Prospectus | Nil# | Nil# | Nil# |
Weighted average cost of acquisition, floor price and cap price in the last 18 months
| Type of Transactions | WACA (in Rs) | Floor Price (Rs 95) | Cap Price (Rs 105) |
| Weighted average cost of acquisition of Primary Issuances | N/A^ | N/A^ | N/A^ |
| Weighted average cost of acquisition of Secondary Transactions | N/A^ | N/A^ | N/A^ |
| Since above both are not applicable, please see below Based on last five primary issuances | Nil | Nil | Nil |
| Based on last five secondary transactions | - | - | - |
^
Since there is no primary / new issue of shares or secondary sale / acquisition of shares in the last 18 months.• The BRLM associated with the Issue "Choice Capital Advisors Private Limited" has handled 5 public issues (1 Main board and 4 SME Issues) in the past three financial years out of which none of the issues closed below the Issue Price on listing date
| ANCHOR INVESTOR BIDDING DATE OPENED AND CLOSED ON MONDAY MAY 26, 2025 |
| BID / ISSUE PERIOD OPENED ON TUESDAY, MAY 27, 2025. BID / ISSUE CLOSED ON THURSDAY, MAY 29, 2025 |
The Offer was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 read with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6(1) of the SEBIICDR Regulations, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") ("QIB Portion"), provided that our Company may, in consultation with the BRLMs, allocate up to 50% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allotment if made to the Anchor Investor ("Anchor Investor Allocation Price"). In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to QIB Portion (other than the Anchor Investor Portion) ("Net QIB Portion"). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds. Further, not less than 15% of the Issue shall be available for allocation to Non-lnstitutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. One-third of the Non-lnstitutional Portion shall be available for allocation to Non- lnstitutional Bidders with a Bid size of more than Rs 0.20 million and up to Rs1.00 million and two-third of the Non-lnstitutional Portion shall be available for allocation to Non-lnstitutional Bidders with a Bid size of more than Rs1.00 million provided that under-subscription in either of these two sub-categories of the Non-lnstitutional Portion may be allocated to Non-lnstitutional Bidders in the other sub-category of Non-lnstitutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders (defined herein), as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks ("SCSBs") or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see "Issue Procedure" on page 472 of the Prospectus.
The bidding for Anchor Investor opened and closed on Monday, May 26,2025. The Company received 8 applications from 8 Anchor Investors for 7,619,152 Equity Shares. The Anchor Investor Issue Price was finalized at ^105 per Equity Share. A total of 4,800,000 Equity Shares were allocated under the Anchor Investor Portion aggregating to 504,000,000/-.
The Issue received 1,403,701 applications for 1,097,941,444 Equity Shares resulting in 68.62 times subscription as disclosed in the Prospectus. The details of the applications received in the Issue from Retail Individual Bidders, Non-lnstitutional Bidders, QIBs and Anchor Investors are as under (before technical rejections):
| Sr no. | Category | No of Applications applied | No. of Equity Shares | Shares Reserved as per Prospectus | No. of times Subscribed | Amount (Rs) |
| A | Retail Individual Investors | 1,296,900 | 222,051,222 | 5,600,000 | 39.65 | 23,308,478,956.00 |
| B | Non-lnstitutional Investors - More than Rs0.20 million Up to Rs1 million | 65,844 | 135,838,762 | 800,000 | 169.80 | 14,259,935,218.00 |
| C | Non-lnstitutional Investors - Above Rs1 million | 40,870 | 405,637,910 | 1,600,000 | 253.52 | 42,590,991,804.00 |
| D | Qualified Institutional Bidders (excluding Anchors Investors) | 79 | 326,794,398 | 3,200,000 | 102.12 | 34,313,411,790.00 |
| E | Anchor Investors | 8 | 7,619,152 | 4,800,000 | 1.59 | 800,010,960.00 |
| Total | 1,403,701 | 1,097,941,444 | 16,000,000 | 68.62 | 115,272,828,728.00 |
* This excludes 3,248 applications for 593,560 Equity Shares aggregating to Rs. 62,275,804/-from Retail Individual which were not in bid book but which were banked.
Final Demand
A summary of the final demand as per NSE and BSE as on the Bid/Offer Closing Date at different Bid prices is as under:
| Sr. No | Bid Price | No. of Equity Shares | % to Total | Cumulative Total | Cumulative % of Total |
| 1 | 95 | 798,324 | 0.07 | 798,324 | 0.07 |
| 2 | 96 | 72,846 | 0.01 | 871,170 | 0.08 |
| 3 | 97 | 31,098 | 0.00 | 902,268 | 0.08 |
| 4 | 98 | 38,766 | 0.00 | 941,034 | 0.08 |
| 5 | 99 | 48,138 | 0.00 | 989,172 | 0.09 |
| 6 | 100 | 364,798 | 0.03 | 1,353,970 | 0.12 |
| 7 | 101 | 69,012 | 0.01 | 1,422,982 | 0.12 |
| 8 | 102 | 61,628 | 0.01 | 1,484,610 | 0.13 |
| 9 | 103 | 247,932 | 0.02 | 1,732,542 | 0.15 |
| 10 | 104 | 352,302 | 0.03 | 2,084,844 | 0.18 |
| 11 | 105 | 923,010,082 | 79.73 | 925,094,926 | 79.91 |
| CUTOFF | 232,549,992 | 20.09 | 1,157,644,918 | 100.00 | |
| 1,157,644,918 | 100.00 |
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on May 30,2025.
A. Allotment to Retail Individual Bidders (After Technical Rejections) (including ASBA Applications)
The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of ^105 per Equity, was finalized in consultation with BSE. This category has been subscribed to the extent of 38.11967 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 5,600,000 Equity Shares to 39,436 successful applicants. The category-wise details of the Basis of Allotment are as under:
| Sr. No, | Category | No. of Applications Received | %of Total | Total No. of Equity Shares applied | % to Total | No. of per Bidder Equity Shares Allotted | Ratio | Total No. of Equity Shares allotted |
| 1 | 142 | 1,160,809 | 93.23 | 164,834,878 | 77.22 | 142 | 157:4957 | 5,220,772 |
| 2 | 284 | 43,084 | 3.46 | 12,235,856 | 5.73 | 142 | 7:221 | 193,830 |
| 3 | 426 | 13,420 | 1.08 | 5,716,920 | 2.68 | 142 | 7:221 | 60,350 |
| 4 | 568 | 5,869 | 0.47 | 3,333,592 | 1.56 | 142 | 7:221 | 26,412 |
| 5 | 710 | 5,541 | 0.45 | 3,934,110 | 1.84 | 142 | 7:221 | 24,992 |
| 6 | 852 | 2,360 | 0.19 | 2,010,720 | 0.94 | 142 | 15:472 | 10,650 |
| 7 | 994 | 2,731 | 0.22 | 2,714,614 | 1.27 | 142 | 86:2731 | 12,212 |
| 8 | 1136 | 993 | 0.08 | 1,128,048 | 0.53 | 142 | 31:993 | 4,402 |
| 9 | 1278 | 678 | 0.05 | 866,484 | 0.41 | 142 | 7:226 | 2,982 |
| 10 | 1420 | 2,159 | 0.17 | 3,065,780 | 1.44 | 142 | 7:221 | 9,656 |
| 11 | 1562 | 399 | 0.03 | 623,238 | 0.29 | 142 | 13:399 | 1,846 |
| 12 | 1704 | 436 | 0.04 | 742,944 | 0.35 | 142 | 7:218 | 1,988 |
| 13 | 1846 | 6,643 | 0.53 | 12,262,978 | 5.74 | 142 | 7:221 | 29,820 |
| 1 additional Share to 88 Allottees from amongst 2670 Successful Applicants from SI no 2 to 13 | 1 | 44:1335 | 88 | |||||
| TOTAL | 1,245,122 | 100.00 | 213,470,162 | 100.00 | 5,600,000 | |||
B. Allotment to Non-lnstitutional Bidders (more than Rs 0.20 million and upto Rs1 million) (After Technical Rejections) (including ASBA Applications)
The Basis of Allotment to the Non-lnstitutional Bidders (more than Rs 0.20 million and upto Rs 1 million), who have bid at the Issue Price of Rs 105 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 165.56295 times. The total number of Equity Shares allotted in this category is 800,000 Equity Shares to 402 successful applicants. The category-wise details of the Basis of Allotment are as under:
| Sr. No, | Category | No. of Applications Received | % of Total | Total No. of Equity Shares applied | %to Total | No. of per Bidder Equity Shares Allotted | Ratio | Total No. of Equity Shares allotted |
| 1 | 1988 | 61,275 | 95.42 | 121,814,700 | 91.97 | 1,988 | 7:1117 | 763,392 |
| 2 | 2130 | 894 | 1.39 | 1,904,220 | 1.44 | 1,988 | 6:894 | 11,928 |
| 3 | 2272 | 203 | 0.32 | 461,216 | 0.35 | 1,988 | 1:203 | 1,988 |
| 4 | 2414 | 96 | 0.15 | 231,744 | 0.17 | 1,988 | 1:96 | 1,988 |
| 5 | 2556 | 94 | 0.15 | 240,264 | 0.18 | 1,988 | 1:94 | 1,988 |
| 6 | 2840 | 217 | 0.34 | 616,280 | 0.47 | 1,988 | 1:217 | 1,988 |
| 7 | 3976 | 179 | 0.28 | 711,704 | 0.54 | 1,988 | 1:179 | 1,988 |
| 8 | 4686 | 427 | 0.66 | 2,000,922 | 1.51 | 1,988 | 3:427 | 5,964 |
| 9 | 9514 | 112 | 0.17 | 1,065,568 | 0.80 | 1,988 | 1:112 | 1,988 |
| 10 | 2698 | 46 | 0.07 | 124,108 | 0.09 | 1,988 | 0:46 | 0 |
| 11 | 2982 | 64 | 0.10 | 190,848 | 0.14 | 1,988 | 0:64 | 0 |
| 12 | 3124 | 33 | 0.05 | 103,092 | 0.08 | 1,988 | 0:33 | 0 |
| 13 | 3266 | 32 | 0.05 | 104,512 | 0.08 | 1,988 | 0:32 | 0 |
| 14 | 3408 | 23 | 0.04 | 78,384 | 0.06 | 1,988 | 0:23 | 0 |
| 15 | 3550 | 31 | 0.05 | 110,050 | 0.08 | 1,988 | 0:31 | 0 |
| 16 | 3692 | 17 | 0.03 | 62,764 | 0.05 | 1,988 | 0:17 | 0 |
| Sr. No, | Category | No. of Applications Received | %of Total | Total No. of Equity Shares applied | % to Total | No. of per Bidder Equity Shares Allotted | Ratio | Total No. of Equity Shares allotted |
| 17 | 3834 | 55 | 0.09 | 210,870 | 0.16 | 1,988 | 0:55 | 0 |
| 18 | 4118 | 15 | 0.02 | 61,770 | 0.05 | 1,988 | 0:15 | 0 |
| 19 | 4260 | 63 | 0.10 | 268,380 | 0.20 | 1,988 | 0:63 | 0 |
| 20 | 4402 | 11 | 0.02 | 48,422 | 0.04 | 1,988 | 0:11 | 0 |
| 21 | 4544 | 29 | 0.05 | 131,776 | 0.10 | 1,988 | 0:29 | 0 |
| 22 | 4828 | 54 | 0.08 | 260,712 | 0.20 | 1,988 | 0:54 | 0 |
| 23 | 4970 | 21 | 0.03 | 104,370 | 0.08 | 1,988 | 0:21 | 0 |
| 24 | 5112 | 12 | 0.02 | 61,344 | 0.05 | 1,988 | 0:12 | 0 |
| 25 | 5254 | 2 | 0.00 | 10,508 | 0.01 | 1,988 | 0:2 | 0 |
| 41 | 7526 | 10 | 0.02 | 75,260 | 0.06 | 1,988 | 0:10 | 0 |
| 42 | 7668 | 3 | 0.00 | 23,004 | 0.02 | 1,988 | 0:3 | 0 |
| 43 | 7810 | 4 | 0.01 | 31,240 | 0.02 | 1,988 | 0:4 | 0 |
| 44 | 7952 | 13 | 0.02 | 103,376 | 0.08 | 1,988 | 0:13 | 0 |
| 45 | 8094 | 3 | 0.00 | 24,282 | 0.02 | 1,988 | 0:3 | 0 |
| 46 | 8236 | 1 | 0.00 | 8,236 | 0.01 | 1,988 | 0:1 | 0 |
| 47 | 8378 | 5 | 0.01 | 41,890 | 0.03 | 1,988 | 0:5 | 0 |
| 48 | 8520 | 7 | 0.01 | 59,640 | 0.05 | 1,988 | 0:7 | 0 |
| 49 | 8662 | 8 | 0.01 | 69,296 | 0.05 | 1,988 | 0:8 | 0 |
| 50 | 8804 | 1 | 0.00 | 8,804 | 0.01 | 1,988 | 0:1 | 0 |
| 51 | 8946 | 4 | 0.01 | 35,784 | 0.03 | 1,988 | 0:4 | 0 |
| 52 | 9088 | 6 | 0.01 | 54,528 | 0.04 | 1,988 | 0:6 | 0 |
| 53 | 9230 | 4 | 0.01 | 36,920 | 0.03 | 1,988 | 0:4 | 0 |
| 54 | 9372 | 8 | 0.01 | 74,976 | 0.06 | 1,988 | 0:8 | 0 |
| 1 (One) lot of 1988 shares to all the Applicants from Categories from Serial No. 10 to 54 in | 1,988 | 3:716 | 5,964 | |||||
| 45 additional Shares to 18 Successful Allottees from categories from Serial No. 2 to 54 | 45 | 1:1 | 810 | |||||
| 1 additional Share to 14 Applicants from 18 Successful Allottees from Categories from Serial No. 2 to 54 | 1 | 7:9 | 14 | |||||
| Total | 64,213 | 100.00 | 132,450,358 | 100.00 | 800,000 | |||
C. Allotment to Non-lnstitutional Bidders (more than Rs1 million) (After Technical Rejections) (including ASBA Applications)
The Basis of Allotment to the Non-lnstitutional Bidders (more than Rs 1 million), who have bid at the Issue Price of Rs 105 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 251.34107 times. The total number of Equity Shares allotted in this category is 1,600,000 Equity Shares to 804 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)
| Category | No. of Applications Received | %of Total | Total No. of Equity Shares applied | %to Total | No. of Equity Shares allotted per applicant | Ratio | Total No. of Equity Shares allotted |
| 9656 | 38,820 | 95.81 | 374,845,920 | 93.21 | 1,988 | 20:1007 | 1,532,748 |
| 9798 | 410 | 1.01 | 4,017,180 | 1.00 | 1,988 | 4:205 | 15,904 |
| 9940 | 301 | 0.74 | 2,991,940 | 0.74 | 1,988 | 6:301 | 11,928 |
| 10082 | 98 | 0.24 | 988,036 | 0.25 | 1,988 | 1:49 | 3,976 |
| 10224 | 100 | 0.25 | 1,022,400 | 0.25 | 1,988 | 1:50 | 3,976 |
| 10366 | 117 | 0.29 | 1,212,822 | 0.30 | 1,988 | 2:117 | 3,976 |
| 10650 | 38 | 0.09 | 404,700 | 0.10 | 1,988 | 1:38 | 1,988 |
| 11076 | 36 | 0.09 | 398,736 | 0.10 | 1,988 | 1:36 | 1,988 |
| 11360 | 31 | 0.08 | 352,160 | 0.09 | 1,988 | 1:31 | 1,988 |
| 11644 | 43 | 0.11 | 500,692 | 0.12 | 1,988 | 1:43 | 1,988 |
| 12070 | 27 | 0.07 | 325,890 | 0.08 | 1,988 | 1:27 | 1,988 |
| Category | No. of Applications Received | %of Total | Total No. of Equity Shares applied | % to Total | No. of Equity Shares allotted per applicant | Ratio | Total No. of Equity Shares allotted |
| 14200 | 72 | 0.18 | 1,022,400 | 0.25 | 1,988 | 1:72 | 1,988 |
| 19170 | 37 | 0.09 | 709,290 | 0.18 | 1,988 | 1:37 | 1,988 |
| 19312 | 29 | 0.07 | 560,048 | 0.14 | 1,988 | 1:29 | 1,988 |
| 10508 | 22 | 0.05 | 231,176 | 0.06 | 1,988 | 0:22 | 0 |
| 10792 | 2 | 0.00 | 21,584 | 0.01 | 1,988 | 0:2 | 0 |
| 10934 | 8 | 0.02 | 87,472 | 0.02 | 1,988 | 0:8 | 0 |
| 11218 | 5 | 0.01 | 56,090 | 0.01 | 1,988 | 0:5 | 0 |
| 39476 | 1 | 0.00 | 39,476 | 0.01 | 1,988 | 0:1 | 0 |
| 202776 | 1 | 0.00 | 202,776 | 0.05 | 1,988 | 0:1 | 0 |
| 247506 | 1 | 0.00 | 247,506 | 0.06 | 1,988 | 0:1 | 0 |
| 952252 | 1 | 0.00 | 952,252 | 0.24 | 1,988 | 0:1 | 0 |
| 1 (One) lot of 1988 shares to all the Applicants from Categories from Serial No. 15 to 15' | 1,988 | 5:360 | 9,940 | ||||
| 2 additional Shares to 804 Successful Allottees from all the Categories | 2 | 1:1 | 1,608 | ||||
| 1 additional Share to 40 Applicants from amongst 804 Successful Allottees from all the Categories | 1 | 10:201 | 40 | ||||
| TOTAL | 40,519 | 100.00 | 402,145,704.00 | 100.00 | 1,600,000 | ||
D. Allotment to QIBs (After Technical Rejections)
Allotment to QIBs, who have bid at the Issue Price of T105 per Equity Share or above, has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 102.12325 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. Nil Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 3,200,000 Equity Shares (i.e., Includes spilled over of 160,000 Equity Shares from QIB MF category) on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 3,200,000 Equity Shares, which were allotted to 79 successful Applicants.
| Category | FI'S/BANK'S | MF'S | IC'S | NBFC'S | AIF | FPC/FII | Others | Total |
| QIB | 1,206,471 | - | 80,203 | - | - | 514,292 | 1,399,034 | 3,200,000 |
E. Allotment to Anchor Investors (After Technical Rejections)
The Company, in consultation with the BRLMs, have allocated 4,800,000 Equity Shares to 8 Anchor Investors (through 8 Anchor Investor Application Forms) (including Nil domestic Mutual Funds through Nil schemes) at an Anchor Issue Price at Rs105 per Equity Share in accordance with SEBIICDR Regulations. This represents 60% of the QIB portion.
| Category | FI'S/BANK'S | MF'S | IC'S | NBFC'S | AIF | FPC/FII | Others | Total |
| ANCHOR | - | - | - | 1,466,266 | 952,536 | 2,381,198 | - | 4,800,000 |
The Board of Directors of our Company at its meeting held on May 30,2025 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation and/or notices have been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Issue Account on May 30,2025 and the payments to non-syndicate brokers have been issued on May 31, 2025. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on June 02,2025 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE and NSE on June 02,2025. The Company has received the listing and trading approval from BSE & NSE, and trading will commence on June 03,2025.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.
| INVESTORS PLEASE NOTE |
These details of the Allotment made was hosted on the website of Registrar to the Issue, KFin Technologies Limited at www.kfintech.com.
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant, Serial number of the Bid cum Application form number, Bidders DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:
| Corrigendum to the Prospectus |
The shareholding pattern of the Company on page No 114 of the Prospectus dated May 30, 2025, has been modified by mentioning number of Locked in Shares in column XII. Please read the same as mentioned below: Shareholding Pattern of our Company
| Category (I) | Category of shareholder (II) | Number of shareholders (III) | Number of fully paid-up Equity Shares held (IV) | Number of Partly paid-up Equity Shares held | Number of shares underlying Depository Receipts (VI) | Total number of shares held (VII) = (IV)*(V)+ (VI) | Shareholding as a V, of total number of shares (calculated as per SCRR. 1957} (VIII) As a % of (A+B+C2) | Number of Voting Rights held in each class of securities (IX) | Number of shares Underlying Outstanding convertible securities (including Warrants) (X) | Shareholding, as a % assuming full conversion of convertible securities (as a percentage of diluted share capital) (XI)= (VII)+(X) As a %of (A+B+C2) | Number of locked in shares (XII) | Number of Shares pledged or otherwise encumbered (XIII) | Number of Equity Shares held in dematerialized form (XIV) | |||||
| Number of Voting Rights | ||||||||||||||||||
| Class: Equity Shares | Class: Others | Total | Total as a% of (A+B* C) | Number (a) | As a % of total Shares held (b) | Number (a) | As a % of total Shares held (b) | |||||||||||
| (A) | Promoters and Promoter Group | 9 | 4,28.74.592 | NA | NA | 4.28.74,592 | 100.00 | Equity Shares | - | 4.28.74.592 | 100.00 | - | - | 4.28.74.592 | 100.00 | - | - | 4.28.74.592 |
| (B) | Public | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| I | Non-Promoter Non-Public | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| (C1) | Shares underlying depository receipts | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| (C2) | Shares held by employee trusts | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total (A*B+C) | 9 | 4.28,74.592 | NA | NA | 4,2874.592 | 100.00 | Equity Shares | - | 4,28.74.592 | 100.00 | - | - | 4.28,74,592 | 100.00 | - | - | 4.28.74,592 | |
| BOOK RUNNING LEAD MANAGER TO THE ISSUE | REGISTRAR TO THE ISSUE |
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| Choice The Joy of Earning Choice Capital Advisors Private Limited | KFINTECH |
| Sunil Patodia Tower, Plot No. 156-158, J.B. Nagar, Andheri (East), Mumbai - 400 099, Maharashtra, India | KFin Technologies Limited |
| Telephone: +91 22 6707 9999 / 7919 (ext.) | Selenium, Tower-B, Plot No- 31 and 32, Financial District Nanakramguda, Serilingampally, Hyderabad - 500 032, Telangana, India |
| Email: ipo.pisl@choiceindia.com | Telephone: +91 40 6716 2222 /1800 309 4001 |
| Investor grievance email: investorgrievances_advisors@choiceindia.com | Email: pisl.ipo@kfintech.com |
| Contact Person: Nimisha Joshi / Shreya Poddar | Investor grievance email: einward.ris@kfintech.com |
| Website: www.choiceindia.com/merchant-investment-banking | Contact Person: M Murali Krishna |
| SEBI registration number: INM000011872 | Website: wwv.kfintech.com |
| SEBI Registration Number: INR000000221 |
All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP and Prospectus.
| For PROSTARM INFO SYSTEMS LIMITED | |
| On Behalf of the Board of Directors | |
| Sd /- | |
| Place: Mumbai, Maharashtra | Tapan Ghose |
| Date: June 02, 2025 | Managing Director |
LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES IN LISTING OR THE BUSINESS PROSPECT OF THE PROSTARM INFO SYSTEMS LIMITED
PROSTARM INFO SYSTEMS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed has filed a Red Herring Prospectus dated May 17, 2025 with the ROC. The RHP shall be available on the website of the SEBI at www.sebi.gov.in the website of the BRLM to the Issue at www.choiceindia.com and the website of the Company at www.prostarm.com and websites of BSE and NSE i.e. www.bseindia.com and www.nseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see section titled "Risk Factors" on page 35 of the RHP. Potential investors should not rely on the RHP and should instead rely on their own examination of our company and the issue, including the risks involved, for making any investment decision.
The Equity Shares offered in the Issue have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable U.S. state securities laws. There will be no public offering in the United States and the securities being offered in this announcement are not being offered or sold in the United States.
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