Home / Business and Economy / Prostarm Shares Unlock: ₹560 Crore May Hit Market

Prostarm Shares Unlock: ₹560 Crore May Hit Market

Summary

  • Prostarm's lock-in period ends, freeing 53% of shares.
  • Over 3.11 crore shares worth ₹560 crore become tradable.
  • The company manufactures energy storage and power conditioning equipment.
Prostarm Shares Unlock: ₹560 Crore May Hit Market

Shares of Prostarm Info Systems Ltd. are expected to be under close observation on Friday, December 5, with the conclusion of its six-month shareholder lock-in period. This event will allow a substantial portion of the company's equity to enter the market.

Approximately 3.11 crore shares, constituting 53% of Prostarm's outstanding equity and valued at nearly ₹560 crore based on recent prices, will become available for trading. While the lock-in expiry signifies eligibility for trading, it does not guarantee immediate sales of all these shares by shareholders.

Prostarm Info Systems, known for manufacturing equipment like UPS systems and inverters, debuted on the stock exchange in June. Although its stock had previously surged significantly, it experienced a recent decline in anticipation of the lock-in expiry. The company's stock closed at ₹180.5 on Thursday, reflecting a 3.5% decrease.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.

Read more news on

Property Code: 5571