February 19, 2025
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What was the last grey market premium of PS Raj Steels IPO?
Rs.3
On 19th February 2025, the scrip is listed at Rs. 145, 3.57% premium over the issue price.
Subscription status of PS Raj Steels IPO
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PS Raj Steels Limited IPO Price Rs. 140 Lot 1000 shares, Rs. 28.28 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 1.21 | 21.39 | 10.04 | 9.82 | 7,013 |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of PS Raj Steels?
PS Raj Steels Limited, established in November 2004, specializes in the manufacturing and supply of stainless steel pipes and tubes across India.
The company’s diverse product range includes:
- 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
PS Raj Steels’ products serve a wide array of industries such as railways, furniture, household applications, gate railings, door frames, rice mills, sugar mills, food processing, and heat exchangers.
The manufacturing facility is located in Hissar, Haryana, covering an area of 3 acres.
With a robust distribution network across 18 states in India, the company works closely with OEMs to ensure prompt deliveries and customized solutions. Additionally, PS Raj Steels has established a strong network of 77 dealers nationwide.
As of January 31, 2025, the company employs a total of 114 staff members, including non-contract labor.
Get more information about the company @ http://www.pssrgroup.com/
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PS Raj Steels IPO Details |
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| IPO opens on | 12 February 2025 |
| IPO closes on | 14 February 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2020000 Shares / Rs 28.28 Crore |
| * Fresh Issue | 2020000 Shares / Rs 28.28 Crore |
| * Offer for Sale – | – shares / Rs. – crore |
| Market Maker Portion | 101000 Shares |
| Net offer to Public | 1919000 Shares/ Rs 26.87 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 132-140 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 959500 | 13.44 |
| HNI (15%) | 287850 | 4.03 |
| RII (35%) | 671650 | 9.40 |
| Total Shares | 1919000 | 26.87 |
| Retail portion will be oversubscribed by |
672 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1000 Shares | Rs.140000 |
| Min HNI Application | 2000 Shares | Rs. 280000 |
Who are the Promoters of PS Raj Steels?
The promoters of the company are Mr Raj Kumar Gupta, Mr Deepak Kumar, Mr Gaurav Gupta, Mr Vishal Gupta, Ms Nikita Gupta, M/s Raj Kumar HUF, M/s Deepak Kumar HUF and M/s Gaurav Gupta HUF.
What are the Objects of PS Raj Steels IPO?
The company intends to utilize the proceeds of the Issue to meet the following objectives: –
- To meet the working capital requirements of the Company
Tentative timetable |
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| IPO opens on | 12 February 2025 |
| IPO Closes on | 14 February 2025 |
| IPO Allotment on | 17 February 2025 |
| Refund Initiation | 18 February 2025 |
| Credit of Shares | 18 February 2025 |
| Listing on | 19 February 2025 |
| Registered Office of the Company PS Raj Steels Limited V & P.O Talwandi Rukka Hisar-125001 |
| Who is the Lead Manager of this IPO? Khambatta Securities Ltd |
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Who is the Registrar to IPO? |
PS Raj Steels IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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PS Raj Steels IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 179.89 | 3.57 | ||
| 2022-23 | 225.44 | 3.65 | ||
| 2023-24 | 297.76 | 6.36 | 11.53 | 20.79 |
| Book Value of the Share on 31.03.2024 |
– | |||
| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 130 | ||
Key Performance
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| Price/EPS of 23-24 | 12.14 |
| Price/BV Ratio | 2.52 |
| Debt/Equity Ratio | 0.58 |
How PS Raj Steels IPO compares with the Peers?
| As per RHP | FV | Price | PE |
| Bookvalue | Ratio | ||
| Ratio | |||
| PS Raj Steels | 2.55 | 12.14 | |
| Remi Edelstahl | 1.77 | 79.37 | |
| Venus Pipes | 9.46 | 31.82 | |
| Suraj ltd | 3.30 | 34.45 | |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
PS Raj Steels IPO Review by Paresh Gordhandas, CA & Research Analyst.
PS Raj Steels Limited, established in November 2004, specializes in the manufacturing and supply of stainless steel pipes and tubes across India.
The manufacturing facility is located in Hissar, Haryana, covering an area of 3 acres.
With a robust distribution network across 18 states in India, the company works closely with OEMs to ensure prompt deliveries and customized solutions.
The company has demonstrated strong profitability over the past three years, with a clean balance sheet that reflects transparency and no signs of accounting manipulation. The shares are being offered at attractive valuations, presenting significant potential for listing gains.
+ from fundamental angle: Apply
+ from grey market angle:
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