Prostarm Info Systems is turning heads on Dalal Street. On July 9, the stock jumped over 11%. That’s not all—it’s now up 62% since its debut on June 3.
So, what’s fueling this rally?
The company just made a big announcement. It plans to build its first Battery Energy Storage System (BESS) manufacturing plant in Jhajhar, Haryana. The land is inside the Reliance MET area, and the lease is set for nine years.
They’ve picked up a 3,912 sq. meter plot with a covered area of 34,000 sq. feet. The goal? Build a world-class BESS unit with an annual capacity of 1.2 GWh.
Rs 25 Crore Investment for Big Energy Ambitions
Prostarm is putting in Rs 25 crore for this setup. That includes new machines, HVAC systems, office space, anti-static floors, and even warehouse space.
CEO Ram Agarwal called it a “strategic expansion.” He said BESS fits perfectly with Prostarm’s core in power electronics. It’s also a bold move into India’s growing clean energy space.
Big Orders Already in Hand
This isn’t just a dream project. Prostarm Info Systems already bagged a 22 MWh order from Adani Electricity Mumbai, worth around Rs 52 crore.
They also got a Letter of Intent (LOI) from Bihar State Power Generation Company for a 120 MWh BESS project under a 12-year rental model. The monthly rental is set at Rs 4.44 lakh per MW.
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IPO Story: From 19% Listing Gain to 62% Rally
Prostarm made its market debut on June 3 at Rs 125 per share, a 19% premium over the issue price. The IPO, worth Rs 168 crore, was a hit—subscribed 97 times.
Retail investors loved it. The grey market was buzzing, but the actual performance has gone beyond expectations.
IPO Funds: Fuel for Growth
The IPO wasn’t just about raising money. Prostarm is using the funds to:
- Cover working capital
- Repay debts
- Look for smart acquisitions
This BESS plant fits perfectly into that vision.
Prostarm Info Systems is not playing small. Its move into BESS shows it’s thinking long-term. And the market is noticing. If this momentum holds, we might just be watching the rise of India’s next energy tech powerhouse.
Disclaimer:
This article is for informational purposes only and is not financial advice. Please consult a certified advisor before making investment decisions.
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