PS Raj Steels IPO is a book-built issue worth ₹28.28 crores, consisting entirely of a fresh issue of 20.20 lakh shares.
The IPO will open for subscription on February 12, 2025, and close on February 14, 2025. The allotment is expected to be finalized on Monday, February 17, 2025, with a tentative listing date on Wednesday, February 19, 2025, on the NSE SME exchange.
The price band for the IPO is set at ₹132 to ₹140 per share. The minimum lot size for retail investors is 1,000 shares, requiring an investment of ₹1,32,000 at the lower end. However, to avoid oversubscription risks, investors are advised to bid at the cutoff price, which amounts to ₹1,40,000. For High Net-Worth Individuals (HNIs), the minimum investment is 2 lots (2,000 shares), totaling ₹2,80,000.
The book-running lead manager for the IPO is Khambatta Securities Limited, with Bigshare Services Pvt Ltd as the registrar. Nikunj Stock Brokers Limited is the market maker for the issue.
For detailed information, please refer to the Red Herring Prospectus (RHP) of PS Raj Steels IPO.
PS Raj Steels IPO Details
| IPO Date | February 12, 2025 to February 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹132 to ₹140 per share |
| Lot Size | 1,000 Shares |
| Total Issue Size | 20,20,000 shares (aggregating up to ₹28.28 Cr) |
| Fresh Issue | 20,20,000 shares (aggregating up to ₹28.28 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 55,18,314 shares |
| Share Holding Post Issue | 75,38,314 shares |
| Market Maker Portion | 1,01,000 shares |
PS Raj Steels IPO Timeline
PS Raj Steels IPO will open for subscription on February 12, 2025, and close on February 14, 2025.
| IPO Open Date | Wed, Feb 12, 2025 |
| IPO Close Date | Fri, Feb 14, 2025 |
| Tentative Allotment | Mon, Feb 17, 2025 |
| Initiation of Refunds | Tue, Feb 18, 2025 |
| Credit of Shares to Demat | Tue, Feb 18, 2025 |
| Tentative Listing Date | Wed, Feb 19, 2025 |
PS Raj Steels IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Isssue |
PS Raj Steels IPO Lot Size
Investors can bid for a minimum of 1,000 shares and in multiples thereof. The table below outlines the minimum and maximum investment for retail investors and HNIs in terms of shares and amount:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹1,40,000 |
| Retail (Max) | 1 | 1000 | ₹1,40,000 |
| HNI (Min) | 2 | 2,000 | ₹2,80,000 |
About PS Raj Steels Limited
Incorporated in November 2004, PS Raj Steels Limited is engaged in the manufacturing and supply of stainless steel pipes and tubes across India.
Product Range
The company offers a diverse range of products, including:
- Outer Diameter (OD) Pipes: Ranging from ½ inch to 18 inches
- Nominal Bore (NB) Pipes: Ranging from 3/8 inch to 18 inches
- Section Pipes: Available in square, rectangular, and oval shapes
- Slotted Pipes
Industry Applications
PS Raj Steels’ products cater to various industries, including:
- Railways
- Furniture & Households
- Gate Railings & Door Frames
- Rice Plants & Sugar Mills
- Food Processing & Heat Exchangers
Manufacturing & Distribution
- The company’s manufacturing facility is located in Hissar, Haryana, covering an area of 3 acres.
- It has a distribution network spanning 18 states across India and directly collaborates with OEMs for customized solutions and timely deliveries.
- A strong dealership network of 77 dealers supports its market reach.
- As of January 31, 2025, the company employs 114 personnel, including non-contract labor.
Competitive Strengths
- Strong Distribution Network & Customer Focus
- Experienced Promoters & Senior Management Team
- Integrated Manufacturing Facility
- Long-standing Association with the Stainless-Steel Industry
For more details, refer to the Red Herring Prospectus (RHP) of PS Raj Steels IPO.
FAQs – PS Raj Steels IPO
What is the PS Raj Steels IPO?
PS Raj Steels IPO is a book-built issue of ₹28.28 crores, consisting entirely of a fresh issue of 20.20 lakh shares.
When does the PS Raj Steels IPO open and close?
The IPO opens for subscription on February 12, 2025, and closes on February 14, 2025.
What is the price band for the IPO?
The price band is set at ₹132 to ₹140 per share.
What is the lot size for investment?
Investors can apply for a minimum of 1 lot (1,000 shares) and in multiples thereof.
What is the minimum and maximum investment required?
- Retail Investors: Minimum investment of ₹1,32,000 at the lower price band and ₹1,40,000 at the upper price band.
- HNI Investors: Minimum investment of 2 lots (2,000 shares) amounting to ₹2,80,000.
When will the allotment be finalized?
The allotment is expected to be finalized on Monday, February 17, 2025.
When will PS Raj Steels IPO be listed?
The IPO is scheduled to be listed on NSE SME on Wednesday, February 19, 2025.
Who is the lead manager for the IPO?
Khambatta Securities Limited is the book-running lead manager.
Who is the registrar for the IPO?
Bigshare Services Pvt Ltd is the registrar for the IPO.
