P S Raj Steels Limited, one of the leading manufacturers of stainless-steel pipes and tubes in India, announced that its initial public offering (IPO) will open for subscription on Wednesday, February 12, 2025. The anchor portion will be opened on Tuesday, February 11, 2025, and the issue will conclude on Friday, February 14, 2025. The company intends to raise ₹28.28 crore from the offering and aims to be listed on the NSE Emerge platform. The price band for the issue has been fixed at ₹132-₹140 per share, and the lot size will be 1,000 equity shares.
Khambatta Securities Limited is the sole Book Running Lead Manager to the Issue, and Bigshare Services Private Limited is the Registrar.
| IPO details – P S Raj Steels Limited | |
| Fresh Issue | Upto 20,20,000 Equity Shares |
| Issue Size | ₹ 28.28 Crore (At the Upper Band) |
| Issue Type | Fresh Issue (Book Built) |
| Issue Price (Rs.) | 132 – 140 |
| Anchor Book Opens | Tuesday, February 11, 2025 |
| Issue Opens | Wednesday, February 12, 2025 |
| Issue closes on | Friday, February 14, 2025 |
| Anchor book | 5,69,000 Equity Shares |
| Reservation for Market Maker | 1,01,000 Equity Shares |
| Reservation for Employees | 20,000 Equity Shares |
| Reservation for HNIs | 2,85,000 Equity Shares |
| Reservation for QIBs | 3,80,000 Equity Shares |
| Reservation for Retail | 6,65,000 Equity Shares |
| Lot Size | 1,000 Equity Shares |
| Book Running Lead Manager | Khambatta Securities Limited |
| Registrar to the issue | Bigshare Services Private Limited |
The IPO will comprise a fresh issue of 20.20 Lakh Equity Shares with a face value of ₹10/- through the book-building route. As many as 5,69,000 equity shares have been reserved for the Anchor investors, 1,01,000 equity shares for the market maker, 20,000 shares reserved for employees, 2,85,000 equity shares allocated for the HNI portion, 3,80,000 equity shares for net QIBs (post Anchor), and the Retail (RII) portion accounts for 6,65,000 equity shares.
According to the RHP, PSSR intends to utilise ₹26.50 crore of the total IPO proceeds towards working capital requirement and the remaining capital will be used for issue related expenses.
The Hisar-headquartered company is one of the leading manufacturers and suppliers of stainless-steel pipes and tubes in India, offering a range of products, including Outer Diameter (OD) Pipes, Nominal Bore (NB) Pipes, Section pipes and Slotted pipes. It is one of the few companies in India to offer a wide array of over 250 standard sizes and provide customised solutions tailored to customer preferences. In addition to manufacturing pipes, the company’s revenue comes from trading in stainless-steel coils & strips, sheets & plates, and bars.
P S Raj Steels Limited, s products serve various sectors, including railways, furniture, households, gate railing, door frames, rice plants, sugar mills, food processing and heat exchanger, etc.
P S Raj Steels Limited, operates a manufacturing unit with an installation capacity of 13,460 metric tons per annum, which is spread over an area of 3 acres in Hisar, Haryana. It supplies finished goods under the brand name “PSSR” in 18 states across India, through a strong network of 77 dealers.
PSSR sources raw materials primarily from Jindal Stainless Limited (“JSL”), one of the largest producers of stainless steel in India. It has maintained a strong relationship with JSL for over 12 years, supported by a Memorandum of Understanding (MOU), ensuring a continuous supply of raw material, which constitutes approximately 95% of the company’s requirements.
The Promoters, Mr. Raj Kumar Gupta, Mr. Deepak Kumar, Mr. Vishal Gupta, Mr. Gaurav Gupta and Mrs. Nikita Gupta are qualified professionals with an individual cumulative experience of more than 5 decades in the Steel Pipes & Tubes industry and have been instrumental in driving the company’s growth since the inception of the business.
P S Raj Steels Limited, has recorded ₹139.11 crore in revenue from operations with a profit (PAT) of ₹3.86 crore in the first half of the current fiscal year, compared to ₹297.74 crore and a profit (PAT) of ₹6.36 crore in FY24.
For more information, please visit: https://pssrgroup.com/
