Prostarm Info Systems Ltd Company Summary

Prostarm Info Systems Ltd Summary

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 & Microprocessor 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.Over the years, the Company has graduated into multifaceted entity specialized in providing solutions & services related to Power and Total Implementation/Infrastructure Solutions (TIS) in addition to the supply of flagship products like Uninterrupted Power Supply (UPS) Systems, Solar PV Power Plants, Solar Inverters, Batteries, Servo-Controlled Voltage Stabilizers and other related power conditioning equipments. The Company is an assembling and integration unit for power backup solutions, which procure components of products from overseas markets as well as from local Indian markets and consequently, are assembled and integrated to make the final products at assembly unit in Pune as per the needs & requirements of the clients. Apart from selling the assembled product, it is also engaged in renting out the Uninterrupted Power Supply (UPS) Systems and providing allied services to foster sales such as repair and maintenance alongwith Annual Maintenance Contract (AMC). Apart from these, the Company has solar products manufacturing line at Ahmedabad, Gujarat but due to stiff competition from overseas market and increased cost of manufacturing solar products in house, manufacturing activities is not undertaken at the plant and instead products are imported from overseas. The Company had installed a new solar manufacturing unit in Ahmedabad, Gujarat, in year 2018 to manufacture the Solar PV panels for expanding their existing line of business and increasing the sale of products and services.The Company is proposing to issue 32,88,000 Equity Shares aggregating to Rs. 9.87 crore through Fresh Issue to the Public.