PS Raj Steels IPO is a book-built issue worth ₹28.28 crores, comprising a fresh issue of 20.20 lakh shares.
The subscription for PS Raj Steels IPO opens on February 12, 2025, and closes on February 14, 2025. The allotment process is expected to be finalized on Monday, February 17, 2025. The IPO is set to list on NSE SME, with a tentative listing date scheduled for Wednesday, February 19, 2025.
PS Raj Steels operates in the stainless-steel manufacturing sector. They specialize in the production and supply of stainless-steel pipes and tubes, including outer diameter (OD) pipes, nominal bore (NB) pipes, section pipes, and slotted pipes. Their products are used in various industries such as railways, furniture, households, gate railing, door frames, rice plants, sugar mills, food processing, and heat exchangers.
The price band for PS Raj Steels IPO is set between ₹132 and ₹140 per share. The minimum lot size for an application is 1,000 shares. Retail investors need to invest at least ₹1,32,000, but to avoid the risk of oversubscription, it is advisable to bid at the cutoff price, which amounts to approximately ₹1,40,000. For HNIs, the minimum investment requirement is 2 lots (2,000 shares), totaling ₹2,80,000.
Khambatta Securities Limited is the book-running lead manager for the PS Raj Steels IPO, with Bigshare Services Pvt Ltd serving as the registrar. Nikunj Stock Brokers Limited has been appointed as the market maker for the issue.
PS Raj Steels IPO Details:
| Company Name | PS Raj Steels Limited |
| Sector | Stainless Steel Manufacturing |
| IPO Type | SME |
| IPO Open date | 12th Feb 2025 |
| IPO Close date | 14th Feb 2025 |
| Listing Exchanges | NSE |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
PS Raj Steels IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 1000 | 1,40,000 |
| HNI (Min) | 2 | 2000 | 2,80,000 |
PS Raj Steels IPO Timeline:
| IPO Open Date | 12th Feb 2025 |
| IPO Close Date | 14th Feb 2025 |
| Basis of Allotment | 17th Feb 2025 |
| Refund Initiation Date | 18th Feb 2025 |
| Shares Credit to Demat | 18th Feb 2025 |
| Listing Date | 19th Feb 2025 |
Things to Consider before applying for an IPO
Financial Performance: Review PS Raj Steels’ Financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Stainless Steel Manufacturing Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in PS Raj Steels and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
