PS Raj Steels came to market through an SME IPO that opened on 12 February 2025 and closed on 14 February 2025, and the shares listed on 19 February 2025 on NSE SME. The price band was ₹132 to ₹140 per share and one lot was 1000 shares, so the minimum application was ₹1,40,000. The issue size was ₹28.28 crore. The whole issue was fresh shares, so the money raised went to the company.
Bigshare Services Pvt Ltd was the registrar to the issue, and Khambatta Securities Limited was the lead manager.
| Day |
|---|
| 1 |
| 2 |
| 3 |
Incorporated in November 2004, PS Raj Steels Limited is an India-based company engaged in the manufacturing and supply of stainless steel pipes and tubes. The company offers the following: Outer Diameter (OD) Pipes from ½ inch to 18 inches Nominal Bore (NB) Pipes from 3/8 inch to 18 inches Section Pipes square, rectangular and oval shape Slotted Pipes.
The company's products cater to a variety of sectors, such as railways, furniture, households, gate railing, door frames, rice plants, sugar mills, food processing, and heat exchangers. The manufacturing unit of the company is located in Hissar, Haryana, and spans an area of 3 acres. The company has a network of distribution in 18 Indian states and deals directly with OEMs for prompt deliveries and customized 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.
As described in the offer document.
| Metric | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|
s Gaurav Gupta HUF.. Promoter holding 100% before the issue.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
PS Raj Steels IPO was a ₹28.28 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹132–₹140 per share with a lot size of 1,000 shares (₹1,40,000). The IPO was open from February 12 to February 14, 2025. Shares listed on NSE SME on February 19, 2025 at ₹145, a 3.6% premium to the issue price of ₹140. Bigshare Services Pvt Ltd is the registrar. Khambatta Securities Limited is the book running lead manager.
The price band of PS Raj Steels IPO is ₹132 to ₹140 per share.
The lot size of PS Raj Steels IPO is 1000 shares.
The minimum investment for PS Raj Steels IPO is approximately ₹1,40,000 based on the upper price band.
The allotment date of PS Raj Steels IPO is Feb 17, 2025.
You can check PS Raj Steels IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the PS Raj Steels IPO allotment status on Rupix for quick and easy access.
₹132 to ₹140 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,40,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,40,000, for one lot of 1000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 12 February 2025 and closed on 14 February 2025.
The basis of allotment was published on 17 February 2025 by Bigshare Services Pvt Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 19 February 2025 on NSE SME.
The issue size was ₹28.28 crore. The fresh issue was 20,20,000 shares (aggregating up to ₹28.28 crore).