PS Raj Steels IPO Review: Should You Apply or Avoid?

The PS Raj Steels IPO will be open for bidding on 12th February 2025.  The offer is a completely book-built issue with a total issue size of ₹28.28 Cr. The PS Raj Steels IPO  is set to be listed on the Indian markets on 19th February 2025. The public issue is completely a fresh issue of 20,20,000 equity shares.  

PS Raj Steels IPO Details

PS Raj Steels IPO is being offered for subscription to Indian investors with a price band of  ₹ 132 to ₹ 140. The lot size for the IPO is 1000 shares for retail investors, whereas the HNI have to subscribe for a minimum of 2000 shares. As per the lot size, the minimum investment amount aggregates to ₹ 1,40,000. 

The allotment basis for PS Raj Steels IPO will be decided on 17th February 2025, and the refund initiation and credit of shares in a bank account is set to take place on 18th February 2025. 

The book-running lead manager for the PS Raj Steels IPO is Khambatta Securities Limited. Bigshare Services Private Limited is the registrar for the issue, and Nikunj Stock Brokers Limited is the market maker for the IPO. Refer to the below table for more details about the PS Raj Steels IPO :

PS Raj Steels IPO Reservation Requirement

PS Raj Steels IPO is an NSE SME IPO, likely to be listed on the Indian stock exchanges on 19th February 2025. The PS Raj Steels IPO reservation is as follows:

PS Raj Steels IPO  GMP (Grey Market Premium)

PS Raj Steels IPO  GMP: Grey Market Premium (GMP) refers to the price of an IPO trailing in the grey markets. It also refers to the difference between the issue price and the grey market price of an IPO.

As per the recent data available on 12th February 2025, PS Raj Steels IPO GMP currently stands at a price of ₹ 0. This GMP value indicates a neutral debut of PS Raj Steels Limited at the cap price of ₹ 140. The estimated listing gains are estimated at 0.00%.

*Data is updated as of 12th February 2025. 

PS Raj Steels IPO Lot Size For Investors

PS Raj Steels IPO  is offered with minimum bidding requirements of 1000 shares and in multiples thereof. Refer to the below table for more details about the bidding requirements of PS Raj Steels IPO : 

PS Raj Steels IPO  Review

Before investing in a company through its initial public offering, it is important to research and analyse the fundamentals and technical aspects of investing safely in the IPO. Therefore, if you want to make a sound investment decision regarding the PS Raj Steels IPO, ensure that you read the details below about the company: 

Financial Health

PS Raj Steels Limited has experienced consistent growth in revenue since FY 31st March 2022. The company earned a total revenue (other income + revenue from operation ) of ₹ 17,989.39 lakh, which grew by 25.31% to  ₹ 22,544.28 laksh in FY 2023. IN FY 2024, the total revenue of PS Raj Steel Ltd. was 29,776.39 lakhs. 

On the profit side, the company’s profit also grew consistently from FY 2022 to FY 2024. The company had a positive EBDITA balance in FY 2022 at ₹ 688.30 lakhs, whereas in FY 2023, the profit grew to ₹ 696.36 lakhs, and in FY 2024, the EBDITA of the company stood at a figure of ₹ 1,081.56 lakhs. 

Technical Analysis

A number of technical indicators are available to assess the stock’s potential for the coming time. You can analyse the potential of PS Raj Steels IPO  with the help of the technical indicators mentioned below. 

*Data is updated as of 12th February 2025. . 

The PE ratio of PS Raj Steels Limited shares is 12.14, and its Earnings Per Share (pre-IPO) stands at 11.53.

PS Raj Steels Limited has shown considerable growth in its financial performance and has portrayed itself as a strong candidate for SME IPO investment.  Also, the technical ratios of PS Raj Steels Limited indicate that it has the potential for substantial growth in the future. However, these performances figure do not guarantee profits in PS Raj Steels IPO  investments therefore, it is advisable that you do not invest in the public issue without performing extensive research. 

PS Raj Steels IPO Subscription Status 

As of 12th February 2025 at 10:25 AM, the PS Raj Steel IPO was subscribed 0.08 times, aggregating to a total amount of ₹ 1.512 crores. 

Peer Comparison of PS Raj Steels Limited 

 (Figures in Lakhs)

Should I Apply for the PS Raj Steels IPO or Not?

Should I Apply for the PS Raj Steels IPO or Not?

Read the below strengths and weaknesses before investing in PS Raj Steels IPO: 

Pros 

1. Strong, experienced, and dedicated senior management
2. Strong relationship with Jindal Steel Limited 
3. Robust Dealer Network 
4. Effective and efficient inventory and risk management

Cons 

1. 95% of the raw material is supplied by Jindal Steel Limited. 
2. There is still space for expansion due to limited presence in certain regions. 
3. Risk of supply chain disruptions.
4. High fluctuations in raw material prices.

Objectives of PS Raj Steels IPO  

PS Raj Steels Limited is raising approximately ₹ 28.28 crores from the IPO to meet various business and corporate objectives in the coming future. The aim and allocation of the PS Raj Steels IPO  is as follows:

(figures in lakhs)

PS Raj Steels Limited intends to use the net proceeds of the ₹ 2,350.00 lakhs to fund their estimated working capital requirement amounting to ₹ 5,353.40 lakhs. The remaining working capital will be financed through other sources such as banks, financial institutions, and internal accruals. 

About PS Raj Steels Limited

PS Raj Steels Limited was incorporated on 9th November 2004 as a private limited company. The company is primarily engaged in the business of manufacturing and supplying stainless steel pipes and tubes in India. PS Raj Steels offers its product in 4 ranges: 

1. Outer Diameter (OD) Pipes (from ½ inch to 18 inch)
2. Nominal Bore (NB) Pipes (from ⅜ inch to 18 inches )
3. Section Pipes (square, rectangular, and oval shapes)
4. Slotted Pipes 

The company has a total range of 250 standard sizes and provides customised solutions as per customer preferences. Along with stainless steel and tube manufacturing, nearly 30% of the company’s revenue comes from trading activities in stainless steel coils & strips, sheets & plates and bars. 

Registered Office: V & P.O Talwandi Rukka, Hisar, Haryana – 125001, India 

Manufacturing Plant: V & P.O Talwandi Rukka, Hisar, Haryana-125001, India.

PS Raj Steels Limited Financial Performance 

 (Figures are in Lakhs)

How to Apply for PS Raj Steels IPO   

To apply for the PS Raj Steels IPO, you simply need to follow the below steps: 

1. Research the risks, benefits, and key details of the public offer. 
2. Open a demat account with Univest to know more about the IPO and invest in it. If you have an old demat account, you can also use it to invest in the IPO. 
3. If you are a retail investor, place a bid of 1000 shares for a total amount of ₹ 1,40,000.
4. Once the bidding process is completed, you will receive a request for payment initiation using your chosen investment method. Approve the payment request and stay updated with the allotment status for the PS Raj Steels IPO.

Let’s Wrap

• PS Raj Steels IPO  will be open for bidding on 12th February 2025 and will close on 14th February 2025. 
• The total size of PS Raj Steels Limited IPO is 20,20,000 shares, aggregating to ₹ 28.28 crores. 
• The public offer is a book-built issue consisting of a fresh issue of 20,20,000 lakh shares. 
• The last updated grey market premium of PS Raj Steels IPO  is ₹ 0.
• The price band of PS Raj Steels IPO  is set with a floor price of ₹ 132 and a cap price of ₹ 140. 

FAQ on PS Raj Steels IPO 

1. What is the price of the PS Raj Steels IPO?

The price band of PS Raj Steels IPO is ₹ 132 to ₹ 140. It is a 100% book-built issue of ₹ 28.28 crores, which is set for bidding on 12th February 2025 and will close on 14th February 2025. 

2. How can I check PS Raj Steel’s IPO status?

You can check the status of PS Raj Steels IPO either on the official website of the National Stock Exchange or through your registered stockbroking platform. 

3. What is the GMP of PS Raj Steels IPO?

The latest updated GMP of the PS Raj Steels IPO  as of 12th February 2025 is ₹ 0. 

4. What is PS Raj Steels Limited’s business?

PS Raj Steels Limited is involved in the manufacturing and supply of stainless steel pipes and tubes. Along with it also trades in stainless steel coils & strips, sheets & plates and bars. 

Open a demat account on Univest now to initiate your investment journey. Explore the Univest terms and conditions by clicking on the link. 

Disclaimer: The above information is accumulated from authentic sources and is just for informational purposes. To have detailed information about PS Raj Steels IPO, download the PS Raj Steels IPO  RHP and IPO DRHP. Conduct your own research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.

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