Prostarm Info Systems Limited has informed the Exchange regarding 'Incorporation of a Wholly Owned Subsidiary Company '.
PROSTARM · price
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Prostarm Info Systems has set up a 100% wholly owned subsidiary named 'Prostarm Bihar Bess Private Limited' on August 19, 2025, as a Special Purpose Vehicle (SPV). The new subsidiary will handle a 30MW/120 MWh standalone Battery Energy Storage System (BESS) project in Bihar under a Tariff Based Competitive Bidding (TBCB) model with Viability Gap Funding (VGF) support, on a BOOT (Build-Own-Operate-Transfer) basis. The subsidiary has an authorized capital of ₹15 lakh and subscribed capital of ₹5 lakh (50,000 shares of ₹10 each), funded through cash. It is registered in Maharashtra (CIN: U27200MH2025PTC454666) and has not yet commenced business operations.
This move expands Prostarm's footprint into the battery energy storage segment, a high-growth area tied to India's renewable energy push. Since the subsidiary is newly incorporated with minimal capital, near-term financial impact is negligible, but it signals the company's intent to bid for and execute large-scale energy storage projects, which could drive future revenue.