PS Raj Steels Ltd. launched its initial public offering (IPO) on Wednesday, Feb. 12. The steel pipe and tube manufacturer aims to raise Rs 28.28 crore through the IPO. As the PS Raj Steel IPO opens for bidding, here’s what investors must know about the offer size, price band and other key details of the NSE SME IPO.

PS Raj Steels Key Details

PS Raj Steels IPO, open between Feb. 12 and Feb. 14, is an entirely fresh issue of 20.20 lakh shares. With a price band set at Rs 132 to Rs 140 per share, PS Raj Steels IPO’s total offer size is valued at around Rs 28.28 crore.

The company has reserved 50% of the net offer size for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors (NIIs).

Retail investors can bid in the IPO with a minimum lot size of 1,000 shares, totalling an investment of Rs 1.4 lakh.

Allotment of shares in PS Raj Steels IPO is scheduled to be done on Feb. 17. This will be followed by the credit of shares into the demat account of successful bidders and initiation of refunds for the non-allottees on Feb. 18.

Shares of PS Raj Steels Ltd. are proposed to be listed on the NSE SME platform, Emerge, on Feb. 19.

PS Raj Steels Ltd. has appointed Khambatta Securities Ltd. as the book-running lead manager and Bigshare Services Pvt. as the registrar for the issue. Nikunj Stock Brokers Ltd. is the market maker for PS Raj Steels IPO.

PS Raj Steels IPO Subscription Status

  • PS Raj Steels IPO has been subscribed 0.04 times as of 10:15 a.m. on Wednesday, as per data from Chittorgarh.

  • Qualified Institutional Investors: nil

  • Non-Institutional Investors: 0.01 times

  • Retail Investors: 0.07 times

*The subscription status will be updated at regular intervals

PS Raj Steels IPO GMP Today

The grey market premium on the PS Raj Steels IPO suggested a possible flat listing for the shares of the company. According to InvestorGain, the PS Raj Steels IPO GMP stood at Rs 0 at 9 a.m. on Feb. 11.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

PS Raj Steels Business And Financials

Haryana-based PS Raj Steels Ltd. is a manufacturer of stainless steel pipes and tubes. The company serves industries such as railways, furniture and other industries. It operates a manufacturing unit with a production capacity of 13,460 metric tonnes per year.

Use Of Proceeds

The company has proposed to utilise Rs 23.5 crore from the IPO proceeds to fund its working, capital requirements including margin money. The remaining funds are to be used for general corporate purposes and issue-related expenses. 

Financials 

PS Raj Ltd. reported a revenue of Rs 139.12 crore with a net profit of Rs 3.87 crore in the first half of FY 25. The company’s revenue stood at Rs 297.76 crore in FY24, up from Rs 225.44 crore in FY23. Net profit nearly doubled at Rs 6.36 crore in FY24 up from Rs 3.65 crore in FY23.

 Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.PS Raj Steels IPO, open between Feb. 12 and Feb. 14, is an entirely fresh issue of 20.20 lakh shares.  Read MoreIPOs 

​NDTV Profit