The IPO will open for subscription on February 12 and close on February 14, 2025. It is a 100 percent fresh issue of 20.20 lakh shares and the price band has been set at INR 132-140 per share, with a face value of INR 10 per share.
Feb 10, 2025
PS Raj Steels Private Limited, a key player in India’s stainless steel pipes and tubes sector, is set to launch an Initial Public Offering (IPO) worth INR 28.28 crore. The offering, which is a complete fresh issue of 20.20 lakh shares, will be open for subscription from February 12 to February 14, 2025. The price band for the IPO is set between INR 132 and INR 140 per share, with a face value of INR 10 per share.
The allotment is expected to be finalized by February 17, followed by the initiation of refunds on February 18. The company’s shares are anticipated to be listed on the NSE SME exchange on February 19.
Retail investors must invest a minimum of INR 1,40,000 for a lot consisting of 1,000 shares, while high-net-worth individuals (HNIs) must subscribe to at least two lots, requiring an investment of INR 2,80,000.
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The funds raised through the IPO will be used to expand production capacity, upgrade existing infrastructure, and integrate advanced technologies to improve efficiency. Additionally, a portion of the proceeds will go toward working capital needs, debt repayment, and strengthening the company’s financial position.
