Bookbuilding IPO | ₹28 Cr | Listed at NSE SME | Wed, Feb 12, 2025 - Fri, Feb 14, 2025
P S Raj Steels IPO is a book build issue of ₹28.28 crores. The issue is entirely a fresh issue of 0.20 crore shares of ₹28.28 crore.
P S Raj Steels IPO bidding started from Feb 12, 2025 and ended on Feb 14, 2025. The allotment for P S Raj Steels IPO was finalized on Feb 17, 2025. The shares got listed on NSE SME on Feb 19, 2025.
P S Raj Steels IPO price band is set at ₹140 per share. The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,40,000 (1000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,000 shares), amounting to ₹2,80,000.
The issue includes a reservation of up to 20,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Khambatta Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to P S Raj Steels IPO RHP for detailed Information.
IPO Open
Wed, Feb 12, 2025
IPO Close
Fri, Feb 14, 2025
Issue Price
₹140 per share
Market Cap (Pre-IPO)
₹105.54 Cr
| IPO Date | 12 to 14 Feb, 2025 |
| Listed on | Wed, Feb 19, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹132 to ₹140 |
| Issue Price | ₹140 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 20,20,000 shares (agg. up to ₹28 Cr) |
| Reserved for Market Maker | 1,01,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 19,19,000 shares (agg. up to ₹27 Cr) |
| Net Offered to Public | 19,19,000 shares (agg. up to ₹27 Cr) |
| Share Holding Pre Issue | 55,18,314 shares |
| Share Holding Post Issue | 75,38,314 shares |
| NSE Symbol | PSRAJ |
| ISIN | INE0XUS01012 |
P S Raj Steels IPO comprises a total issue size of 20,20,000 shares. The net offer to the public is 18,99,000 shares, after excluding 1,01,000 shares allotted on a firm basis and 20,000 shares under a preferential allotment. Of the Net offer 9,49,000 (49.97%) are allocated to QIB, 2,85,000 (15.01%) allocated to NII 6,65,000 (35.02%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 9,49,000 | 49.97% | 46.98% |
| − Anchor Investor Shares Offered | 5,69,000 | 28.17% | |
| − QIB (Ex. Anchor) Shares Offered | 3,80,000 | 18.81% | |
| NII (HNI) Shares Offered | 2,85,000 | 15.01% | 14.11% |
| Retail Shares Offered | 6,65,000 | 35.02% | 32.92% |
| Preferential Reservations | |||
| Employee Shares Offered | 20,000 | 0.99% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,01,000 | 5.00% | |
| Total Shares Offered | 20,20,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,40,000 |
| Retail (Max) | 1 | 1,000 | ₹1,40,000 |
| HNI (Min) | 2 | 2,000 | ₹2,80,000 |
P S Raj Steels IPO raises ₹7.97 crore from anchor investors. P S Raj Steels IPO Anchor bid date is February 11, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Feb 11, 2025 |
| Shares Offered | 5,69,000 |
| Anchor Portion (₹ Cr.) | 7.97 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Mar 19, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, May 18, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in November 2004, PS Raj Steels Limited manufactures and supplies stainless steel pipes and tubes in India.
The company's product range includes the following
The company's products cater to various sectors, including railways, furniture, households, gate railing, door frames, rice plants, sugar mills, food processing, and heat exchangers.
The company's manufacturing unit is situated in Hissar, Haryana and is spread across an area of 3 acres.
The company has a distribution network across 18 Indian states and engages directly with OEMs for timely deliveries and tailored solutions.
The company has a strong network of 77 dealers spread across the different states of the country.
As of January 31, 2025, the company employs a total of 114 employees, including non-contract labor.
Competitive Strength
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 55.36 | 52.07 | 74.12 | 45.94 |
| Total Income | 139.12 | 297.76 | 225.44 | 179.89 |
| Profit After Tax | 3.87 | 6.36 | 3.65 | 3.57 |
| NET Worth | 34.43 | 30.60 | 24.30 | 20.65 |
| Reserves and Surplus | 28.91 | 29.99 | 23.69 | 20.04 |
| Total Borrowing | 17.25 | 17.80 | 18.02 | 17.09 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements | 26.50 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 20.79% |
| ROCE | 20.64% |
| Debt/Equity | 0.58 |
| RoNW | 20.79% |
| PAT Margin | 2.14% |
| Price to Book Value | 2.52 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.53 | 10.26 |
| P/E (x) | 12.14 | 13.65 |
| Promoter Holding | 100% | 73.2% |
| Market Cap | ₹105.54 Cr. |
The PS Raj Steels IPO is subscribed 9.82 times on February 14, 2025 6:54:59 PM (Day 3). The public issue subscribed 10.04 times in the retail category, 1.21 times in the QIB category, and 21.39 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 1.21 | 3,80,000 | 4,60,000 | 3 |
| NII* | 21.39 | 2,85,000 | 60,97,000 | 318 |
| Retail | 10.04 | 6,65,000 | 66,75,000 | 6,675 |
| Total | 9.82 | 13,50,000 | 1,32,56,000 | 7,013 |
Total Application : 7,013
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Manager | 0.20 |
| 2 | Underwriting Commission | 0.28 |
| 3 | Fees Payable to Registrar to the Issue | 0.01 |
| 4 | Fees Payable to the legal advisor to the Issue | 0.01 |
| 5 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 0.99 |
| 6 | Fees Payable to Regulators including Stock Exchange and other Intermediaries | 0.15 |
| 7 | Fees payable to Peer Review Auditor | 0.03 |
| 8 | Fees Payable to Market Maker (for first Year) | 0.02 |
| 9 | Processing fees to SCSBs for ASBA Applications procured by the members of the Syndicate or Registered Brokers and submitted with the SCSBs | 0.02 |
| 10 | Processing fees to Issuer banks for UPI Mechanism w.r.t application Forms procured by the members of the Syndicate, Registered Brokers, RTAs or the CDPs and submitted to them | 0.04 |
| 11 | Others, if any | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹140.00 |
| Open | ₹145.00 |
| Low | ₹145.00 |
| High | ₹152.25 |
| Last Trade | ₹150.60 |
Lead Manager Reports
P S Raj Steels IPO is a SME IPO of 20,20,000 equity shares of the face value of ₹10 aggregating up to ₹28 Crores. The issue is priced at ₹140 per share. The minimum order quantity is 1000.
The IPO opens on Wed, Feb 12, 2025, and closes on Fri, Feb 14, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in P S Raj Steels IPO using UPI as a payment gateway. Zerodha customers can apply in P S Raj Steels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in P S Raj Steels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The P S Raj Steels IPO opens on Wed, Feb 12, 2025 and closes on Fri, Feb 14, 2025.
P S Raj Steels IPO lot size is 1000, and the minimum amount required for application is ₹1,40,000.
You can apply in P S Raj Steels IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for P S Raj Steels IPO will be done on Monday, February 17, 2025, and the allotted shares will be credited to your demat account by Tue, Feb 18, 2025. Check the P S Raj Steels IPO allotment status.
The P S Raj Steels IPO listing date is on Wed, Feb 19, 2025.
