Prostarm Info Systems shareholder lock-in ends today; Shares worth ₹560 crore free up

About this update from Prostarm Info Systems Limited

Shares of Prostarm Info Systems Ltd. will be in focus on Friday, December 5, as its shareholder lock-in period comes to an end. As per Nuvama Alternative & Quantitative Research, Prostarm will see its six-month lock-in period end on Thursday which will free up its equity shares for trade. According to the report, as many as 3.11 crore shares or 53% of the company's outstanding equity will become eligible to be traded once the shareholder lock-in ends. Based on Thursday's closing price, those 3.11 crore shares are valued at nearly ₹560 crore. It must be specified that the end of the shareholder lock-in does not mean that all the shares will be sold in the open market, they only become eligible to be traded. As per the September shareholding pattern, Prostarm's promoters had a 72.82% stake in the company, while the rest lied with public shareholders. The stock, which had made its Dalal Street debut in June, had nearly doubled from its issue price of ₹105 per share earlier this week. However, ahead of the shareholder lock-in ending, the stock is down 7% in the last two trading sessions. Prostarm Info Systems is a leading manufacturer of energy storage and power conditioning equipment such as UPS Systems, Inverters and solar hybrid inverters. Shares of Prostarm Info Systems ended 3.5% lower on Thursday at ₹180.5. The stock is still up 14% in the last one month.

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