Prostarm Info Systems Ltd Share Price

History of Prostarm Info Systems Ltd

Prostarm Info Systems Limited (erstwhile Prostar Micronova Power Systems Private Limited) was originally incorporated on January 11, 2008 as a Private Limited Company. Subsequently, Company was converted into Public Limited Company and name was changed to 'Prostar Micronova Power Systems Limited' on May 26, 2017. Further, the Company changed its name pursuant to Shareholders' Resolution on July 10, 2017 and Name of the Company was changed to 'Prostarm Info Systems Limited' pursuant to Fresh Certification of Incorporation dated July 28, 2017 by Registrar of Companies, Pune. The Company conceptualized and promoted by a Ram Agarwal and a Group of Entrepreneurs got established in 2008 to provide energy efficient, uninterrupted & clean power solutions to critical loads like ATMs & Microproce ...ssor based systems/ Office Automation Equipment installed in banks & other financial institutions, corporate, academic institutes, hospitals/diagnostic centers, hospitality segment, railways & other PSUs. Presently, it is engaged in providing Power Backup Solutions, Solar Products and Allied Services to the customers. In 2011, Company expanded its footprint into AMC services, by securing AMC contract from one of the key global manufacturers of ATMs', for UPS and batteries installed at ATM sites across India of a private bank. It ventured into the engineering, procurement and construction segment, specifically focusing on setting up rooftop solar photovoltaic (PV) power plants in 2018. It completed supply, installation, testing and commissioning of conventional type UPS with backup at Dr. Babasaheb Ambedkar International Airport, Nagpur; it entered the healthcare sector as a supplier to an OEM of medical equipment; entered the Defence sector as a supplier of UPS to Head Quarter of Integrated Defence Staff, Department of Defence at Kashmir House, New Delhi. The Company incorporated 'Prostarm Energy Systems Private Limited' as subsidiary company followed by the establishment of a manufacturing unit in Pune in 2021. It set up lithium-ion battery packs manufacturing unit in 2022; ventured into a new product line of solar hybrid inverter system; commissioned the First 300 KVA UPS with inbuilt Isolation transformer & IGBT rectifier with batteries; acquired assets to initiate production of isolation transformers in 2022. In 2024, Company expanded the lithium-ion battery packs manufacturing facility to 1,00,000 kWh capacity per annum in Mahape, Navi Mumbai. It has acquired the balance stake in Prostarm Energy Systems Private Limited, making it a wholly owned subsidiary in FY25. The Company launched an IPO of 1,60,00,000 equity shares having the face value Rs 10 each by raising funds aggregating to Rs 168 Cr via fresh issue.