Prostarm Info Systems gained 2.39 percent to Rs 115.90 as the company has bagged a letter of intent (LoI) from Bihar State Power Generation Company (BSPGCL) in the development of a 30 MW/120 MWh standalone battery energy storage system (BESS).
Prostarm will construct the project under the tariff-based competitive bidding (TBCB) route at various GSS destinations of BSPTCL in Bihar, following the build-own-operate-transfer (BOOT) model with viability gap fund (VGF) assistance for a 12-year viability period.
Prostarm will obtain a monthly rental of Rs 4.44 lakh/MW, thus an annual rent of Rs 15.98 crore in the case of 30 MW capacity.
They plan to construct and fully commission the project within 18 months from the commencement date of the battery energy storage purchase agreement (BESPA).
The company clarified that the promoter, promoter group, or group companies have no interest in the entity that awarded the contract. They confirmed that the contract does not involve a related party transaction and does not qualify for application under the arm’s length basis.
Prostarm Info Systems
It is a power solutions provider that was established in 2008 and specializes in UPS systems, inverters, lithium-ion battery pack and solar EPC projects. The firm designs, manufactures and assembles through partners in India and China. It specializes in sales to health industries, IT, military and energy industries by direct sales as well as a network of countrywide distributors. The firm has three operating units in Maharashtra and has also enhanced its technological potential by making specific acquisitions and entering into licensing contracts.
On the 12-month basis, the consolidated net earnings of the company increased 16.6 percent to Rs 23.31 crore at an 11.9 percent rise in revenue to Rs 257.87 crore in FY25 over FY24.
The stock exchanges listed Prostarm Info Systems on 03 June 2025 at Rs 125, reflecting a 19.05 percent premium over its issue price of Rs 105. Investors oversubscribed the company’s September 2021 IPO by more than 97.20 times before it closed on 29 May 2025. The IPO had the range of Rs. 95-105 per share.
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