PS Raj Steels Limited (NSE SME)
Feb 12, 2025 - Feb 14, 2025
| Price | ₹132 - ₹140 |
| Premium | ₹3 |
|---|---|
| Lot size | 1000 |
| Allotment | Feb 17, 2025 |
| Listing | Feb 19, 2025 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1000 | 140000 | 665 |
| HNI | 2 | 2000 | 280000 | 285 |
Last updated on 14-Feb-2025 18:24:03
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 380000 | 460000 | 1.21 |
| NIB | 285000 | 6198000 | 21.75 |
| RETAIL | 665000 | 6675000 | 10.04 |
| EMPRET | 20000 | 24000 | 1.2 |
| Total | 1350000 | 13357000 | 9.89 |
| Application Wise Breakup | |
|---|---|
| Category | App. Received |
| QIB | 3 |
| NIB | 318 |
| RETAIL | 6675 |
| EMPRET | 17 |
| Total | 7013 |
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIB | 5.32 | 6.44 | 1.21 |
| NIB | 3.99 | 86.77 | 21.75 |
| RETAIL | 9.31 | 93.45 | 10.04 |
| EMPRET | 0.28 | 0.34 | 1.2 |
| Total | 18.9 | 187 | 9.89 |
| QIB Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹0.2 | @8% ₹0.3 | @9% ₹0.3 | @10% ₹0.3 | @11% ₹0.4 | @12% ₹0.4 |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹4.1 | @8% ₹4.7 | @9% ₹5.3 | @10% ₹5.8 | @11% ₹6.4 | @12% ₹7 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 32.92% | 665000 |
| NII (HNI) | 14.11% | 285000 |
| Employee | 0.99% | 20000 |
| Anchor | 28.17% | 569000 |
| QIB | 18.81% | 380000 |
| Market Maker | 5.00% | 101000 |
| Total | 100.00% | 2020000 |
IPO Details
| Total Issue Size | 20,20,000 shares (aggregating up to 28.28 Cr) |
| Fresh Issue | 20,20,000 shares (aggregating up to 28.28 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 55,18,314 shares |
| Share Holding Post Issue | 75,38,314 shares |
| Market Maker Portion | 1,01,000 shares |
| Market Maker | Nikunj Stock Brokers Limited |
Key Performance Indicators
| KPI | Sep-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 11.23% | 20.79% | 15.03% |
| ROCE | 11.51% | 20.64% | 14.56% |
| RONW | 11.23% | 20.79% | 15.03% |
| EPS (basic) | 7.01 | 11.53 | 6.62 |
| P/E Pre IPO | 12.14 | ||
| P/E Post IPO | 13.65 |
Financial Details In Crores
| Period Ended | Sep-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 55 | 52 | 74 | 46 |
| Revenue | 139 | 298 | 225 | 180 |
| Profit After Tax | 4 | 6 | 4 | 4 |
| Net Worth | 34 | 31 | 24 | 21 |
| Reserves and Surplus | 29 | 30 | 24 | 20 |
| Total Borrowing | 17 | 18 | 18 | 17 |
About Company
PS Raj Steels Limited, incorporated in November 2004, specializes in the manufacturing and supply of stainless steel pipes and tubes in India, catering to diverse sectors such as railways, furniture, households, gate railing, door frames, rice plants, sugar mills, food processing, and heat exchangers. The company's product range includes Outer Diameter (OD) Pipes (from ½ inch to 18 inches), Nominal Bore (NB) Pipes (from 3/8 inch to 18 inches), Section Pipes (available in square, rectangular, and oval shapes), and Slotted Pipes. Its manufacturing facility, spread across 3 acres in Hissar, Haryana, is equipped with advanced technology and stringent quality control processes. PS Raj Steels has established a strong distribution network spanning 18 Indian states and works directly with OEMs to ensure timely deliveries and customized solutions. Additionally, the company has a robust network of 77 dealers across various regions, reinforcing its market presence. As of January 31, 2025, the company employs 114 individuals, including non-contract labor, to support its operations and expansion strategies.
Strong Distribution and Customer Focus – PS Raj Steels has a well-established distribution network across 18 states, 77 dealers, and direct engagement with OEMs to ensure timely deliveries and tailored solutions.
Experienced Leadership – The company benefits from the expertise of its promoters and senior management team, bringing industry knowledge and strategic vision for growth.
Integrated Manufacturing Facility – Its 3-acre facility in Hissar, Haryana, is equipped with advanced technology and stringent quality controls, ensuring high-quality stainless steel products.
Decline in Trading Sales – Sales from trading are expected to decrease in FY 2025 due to reduced transactions with a group entity, potentially impacting overall revenue.
Dependence on Related Parties – A portion of the company's revenue comes from related parties/group entities, and the loss of any such customers could negatively affect financial performance.
Geographic Concentration Risk – The business is heavily concentrated in four states, making it vulnerable to regional economic conditions, regulatory changes, and local market dynamics.
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com