Prostarm Info Systems Limited has informed the Exchange regarding 'Repayment of loan out of Initial Public Offer proceeds'.
PROSTARM · price
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Awaiting price reaction for this filing.
Prostarm Info Systems Limited has fully repaid borrowings of INR 1,782.62 Lakhs to Bajaj Finance Limited and ICICI Bank Limited using proceeds from its recent IPO. The IPO prospectus dated May 30, 2025 had listed debt repayment as one of the key objects of the issue. This means the company has used the IPO money exactly as promised to investors at the time of listing. The repayment eliminates a portion of the company's outstanding debt entirely.
This is a positive development for shareholders as it reduces the company's debt burden and future interest expenses, while confirming the company is using IPO funds as disclosed. It strengthens the balance sheet and may improve profitability going forward.