Date: September 23, 2026
Regulatory Clarification
Prostarm Info Systems Limited has submitted a clarification to BSE Limited and National Stock Exchange of India Limited regarding the valuation methodology adopted for determining the fair value of equity shares for a preferential issue.
The clarification is in response to NSE's letter reference NSE/LIST/56946 dated September 18, 2026, regarding the preferential issue of 2,898,717 equity shares of ₹10 each.
Valuation Methodology Correction
The company clarifies that the fair value of equity shares was determined solely by adopting the Market Approach (Market Price Method) as stated in the Valuation Report issued by the Registered Valuer.
The company acknowledges that its Annual General Meeting Notice and corrigendum contained an incorrect statement that the Registered Valuer had determined the fair value at ₹145.78 per equity share after considering Cost Approach (Net Asset Value Method), Income Approach (DCF Method) and Market Approach (Market Price Method).
The company confirms that the valuation was undertaken based only on the Market Approach (Market Price Method) as set out in the Valuation Report, and not by adopting or considering the Cost Approach or Income Approach methods.
The reference to multiple valuation methods in the AGM Notice and corrigendum was described as "inadvertent" and should be read in accordance with the methodology actually adopted and reported by the Registered Valuer.
Key Details
- Preferential Issue: 2,898,717 equity shares of ₹10 each
- Fair Value: ₹145.78 per equity share
- Valuation Method: Market Approach (Market Price Method) only
- Corrected From: Previously stated combination of Cost, Income, and Market Approaches
- Purpose: Ensure stock exchange records accurately reflect valuation methodology
Compliance Officer
Sachin Gupta, Company Secretary and Compliance Officer (Membership No: F12500), signed the clarification on September 23, 2026.
The intimation is also available on the company website at www.prostarm.com.