Allotment

P S Raj Steels is launching an IPO through a book-building issue of ₹28.28 crore, comprising entirely a fresh issue of 0.20 crore shares. The IPO is aimed at raising capital to support the company’s growth plans and expansion initiatives.
Issue Details
The price band for the IPO is fixed at ₹140 per share. Investors can apply for a minimum of 1,000 shares, with bids in multiples of 1,000 shares thereafter. For retail investors, the minimum investment is ₹1,32,000 (1 lot), while High Net Worth Individuals (HNIs) must invest in at least 2 lots (2,000 shares) amounting to ₹2,80,000. Additionally, the issue includes a reservation of up to 20,000 shares for employees, offered at no discount to the issue price.
Timeline
The IPO opened on February 12, 2025, and closed on February 14, 2025. Allotment was finalized on February 17, 2025, and the shares were subsequently listed on NSE SME on February 19, 2025.
Key Participants
Khambatta Securities Ltd. is the Book Running Lead Manager, while Bigshare Services Pvt. Ltd. serves as the Registrar of the Issue. The company’s Market Maker is Nikunj Stock Brokers Ltd., ensuring liquidity and smooth trading post-listing.
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Total Traded Value
52 Weeks High
52 Weeks Low
Updates On
IPO. Open
IPO. Close
IPO. Price
IPO Market price
| IPO Date | 19 Feb |
| IPO Listing Date | 19 Feb |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹140.00 |
| IPO Issue Size | 20,20,000 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 55,18,314 shares |
| IPO Open Date | 12 Feb |
| IPO Close Date | 14 Feb |
| IPO Allotment (Tentative) | 17 Feb |
| Refunds | 18 Feb |
| Credit to Demat Account | 18 Feb |
| IPO Listing Date | 19 Feb |
| Category | Offer |
|---|---|
| QIB Shares Offered | 9,49,000 Shares |
| NII (HNI) Shares Offered | 2,85,000 (14.11%) Shares |
| Retail Shares Offered | 6,65,000 Shares |
Investors can bid for a minimum of 1,000 shares and in multiples of 1,000 shares thereafter.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,40,000 |
| Retail (Max) | 1 | 1,000 | ₹1,40,000 |
| S-HNI (Min) | 2 | 2,000 | ₹2,80,000 |
| S-HNI (Max) | - | - | - |
| B-HNI (Min) | - | - | - |
Incorporated in November 2004, PS Raj Steels Limited is a leading manufacturer and supplier of stainless steel pipes and tubes in India. The company offers a diverse product range, including Outer Diameter (OD) pipes (½ inch to 18 inches), Nominal Bore (NB) pipes (3/8 inch to 18 inches), section pipes (square, rectangular, and oval), and slotted pipes. Its products serve multiple industries such as railways, furniture, households, gate railings, door frames, rice plants, sugar mills, food processing, and heat exchangers.
Manufacturing and Operations
PS Raj Steels operates an integrated manufacturing facility in Hissar, Haryana, spread over 3 acres. The company has built a robust distribution network across 18 states and works directly with OEMs to provide timely deliveries and customized solutions. It also maintains a strong network of 77 dealers across the country to ensure wider market reach.
Workforce
As of January 31, 2025, PS Raj Steels employs 114 personnel, including non-contract labor, reflecting its commitment to maintaining a skilled and dedicated workforce.
Competitive Strengths
The company’s key strengths include a strong distribution network and customer focus, an experienced promoter and senior management team, an integrated manufacturing facility, and a long-standing association with the stainless steel industry, which has helped it build credibility and expertise over the years.
| Assets | 55.36 | 52.07 | 74.12 |
| Total Income | 139.12 | 297.76 | 225.44 |
| Profit After Tax | 3.87 | 6.36 | 3.65 |
| EBITDA | - | - | - |
| NET Worth | 34.43 | 30.6 | 24.3 |
| Reserves and Surplus | 28.91 | 29.99 | 23.69 |
| Total Borrowing | 17.25 | 17.8 | 18.02 |
| ROE | 20.79% |
| ROCE | 20.64% |
| Debt/Equity | 0.58 |
| RoNW | 20.79% |
| PAT Margin | 2.14% |
| EBITDA Margin | - |
| Price to Book Value | 2.52 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | 26.5 |
| 3 | To meet out the General Corporate Purposes; | - |
| 4 | Offer for Sale (OFS) | - |
P S Raj Steels Ltd. Address
V & P.O
Talwandi Rukka
Hisar
Hisar, Haryana, 125001
+91-9812700024
cs@psrajsteels.com
IPO Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
ipo@bigshareonline.com
https://ipo.bigshareonline.com/IPO_Status.html