PS Raj Steels Ltd. was established on November 9, 2004. The company is a leading manufacturer and supplier 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
| Bidding Dates |
|---|
| 12 Feb 2025 - 14 Feb 2025 |
| Subscription |
|---|
| 9.21x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,32,000 | 1 | 1 | 1000 | 2.0 M | ₹132 - ₹140 | 73.2 % | ₹266.6 M - ₹282.8 M | RHP DOC |
P S Raj Steels IPO SUBSCRIPTION STATUS
14 Feb '25P S Raj Steels IPO overall subscription rate was 9.21 times the total available shares
P S Raj Steels IPO retail subscription rate was 13.14 times in the retail segment
P S Raj Steels IPO non-institutional investor subscription rate was 28.59 times in the non-institutional investor category
P S Raj Steels IPO Qualified Institutional Bidder subscription rate was 0.63 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Feb 2025 (Day 3) | 13.14x | 28.59x | 0.63x |
13 Feb 2025 (Day 2) | 6.95x | 16.59x | 0.41x |
12 Feb 2025 (Day 1) | 2.51x | 4.9x | 0.41x |
P S Raj Steels FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | 38.7 | 1,391.1 | 34.4 | 26.8 | 4.6% |
| FY24 | 63.6 | 2,977.5 | 48.7 | 43.2 | 3.6% |
| FY23 | 36.5 | 2,254.3 | 25.6 | 18.9 | 3.1% |
| FY22 | 35.7 | 1,797.2 | 4.2 | 13.8 | 3.7% |
P S Raj Steels IPO SUBSCRIPTION STATUS DETAILS
P S Raj Steels had 2.0 M shares on offer
P S Raj Steels IPO offer price was in the range ₹132 - ₹140
P S Raj Steels IPO minimum Investment was ₹132000
P S Raj Steels IPO issue size was ₹ 266.6 M - ₹ 282.8 M
P S Raj Steels had a minimum lot size of 1000 Shares per application
P S Raj Steels NUMBER OF SHARES ON OFFER
P S Raj Steels IPO IMPORTANT DATES
| Issue Open Date | 12 Feb 2025 |
| Issue close Date | 14 Feb 2025 |
| Allotment Date | 17 Feb 2025 |
| Refund Date | 18 Feb 2025 |
| Demat Account Credit Date | 18 Feb 2025 |
| Listing Date | 19 Feb 2025 |
| Listing on Exchange(s) | NSE |
| P S Raj Steels Allotment Status | Exchange |
P S Raj Steels IPO subscription opened on 12 Feb 2025, and closed on 14 Feb 2025
IPO allotment for P S Raj Steels was finalized on Monday, 17 Feb 2025
IPO listing for P S Raj Steels was on NSE on Wednesday, 19 Feb 2025
P S Raj Steels IPO LISTING GAINS
| Issue Price (adjusted) | 28.0 |
| Listing Open Price | 145.0 |
| Listing Close Price | 150.6 |
| Listing Gain% | 3.6% |
| Current Gain% | 185.2% |
P S Raj Steels Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P S Raj Steels Ltd. | 79.8 | 60.2 | 35.1 | -0.5 | 0.2 | 11.7 | 10.4 | 266.1 | -0.1 | 8.6 | 15.8 | 2.3 | -76.8 |
| APL Apollo Tubes Ltd. | 2020 | 56087 | 45.6 | 0.9 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1848.5 | 48761.7 | 21.1 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 516.8 | 15749.1 | 31.1 | 1.2 | 4.1 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 37 | 14456.7 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2675.3 | 6065.7 | 21.3 | 1.9 | 2.2 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
P S Raj Steels INFORMATION ON IPO ISSUE
About P S Raj Steels
PS Raj Steels Ltd. was established on November 9, 2004. The company is a leading manufacturer and supplier 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
Object of the Issue
- To meet the working capital requirements of the company
- Working capital requirements
P S Raj Steels - PROMOTERS
| Name |
|---|
| Raj Kumar Gupta |
| Deepak Kumar |
| Gaurav Gupta |
| Vishal Gupta |
| Nikita Gupta |
P S Raj Steels Lead Manager of the Issue
Khambatta Securities Limited
ipo@khambattasecurities.com
P S Raj Steels Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
P S Raj Steels Strengths
Extensive & Customized Product Range
The company offers product customization to meet client specifications, ensuring customer satisfaction and business expansion by catering to both existing and potential new clients
Cost-effective supply chain
The company's close partnership with Jindal Stainless (JSL), located about 25 km from its plant, ensures a reliable raw material supply, minimizes transportation costs and enhances profitability through competitive pricing and reduced production costs
Distribution & customer focus
The company's distribution network across 18 Indian states and direct engagement with OEMs ensure timely deliveries and customized solutions, strengthening customer relationships and market presence
P S Raj Steels Risks
Dependent on limited vendors
The company sources around 95% of its raw materials from Jindal Stainless (JSL). Any delays, cancellations, or disruptions in JSL’s operations could significantly impact its business, production, sales, and financial condition
Agreement risks
The company lacks long-term agreements with its key supplier, Jindal Stainless (JSL), making it vulnerable to supply disruptions, price fluctuations, and unfavourable terms, which could impact production schedules and financial stability
Price fluctuations
The company's production costs are sensitive to fluctuations in HR Coil and CR Coil prices, which can significantly impact overall financial performance
IPO FAQs
PS Raj Steels Ltd. IPO listing opened at Rs 145.00 while the issue price was Rs 140.00 giving 3.57% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 28.00 giving 185.18% gains since its IPO listing.
The promoters of the company are Raj Kumar Gupta, Deepak Kumar, Gaurav Gupta, Vishal Gupta and Nikita Gupta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 132.0 - 140.0.
The IPO application opens on Feb 12, 2025 and closes on Feb 14, 2025.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 132,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Feb 17, 2025.
The refund will be credited to your account on Feb 18, 2025.
The allotted shares will be credited to your demat on Feb 18, 2025.
PS Raj Steels Ltd.’s shares listed on the stock exchanges on Feb 19, 2025.