IPO Details
Bidding Dates
12 Feb 25 - 14 Feb 25
Price Range ₹
132 - 140
Total Equity
₹ 20.31Cr
Lot Size
1000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
12 Feb 2025
Offer end
14 Feb 2025
Allotment
17 Feb 2025
Refund initiation
18 Feb 2025
Demat transfer
18 Feb 2025
Listing
19 Feb 2025
Offer start
12 Feb 2025
Offer end
14 Feb 2025
Allotment
17 Feb 2025
Refund initiation
18 Feb 2025
Demat transfer
18 Feb 2025
Listing
19 Feb 2025
About Company
Incorporated in November 2004, PS Raj Steels Limited manufactures and supplies stainless steel pipes and tubes in India. The company's product range includes: - outer diameter (OD) pipes ranging from ½ inch to 18 inches - nominal bore (NB) pipes ranging from 3/8 inch to 18 inches - section pipes in square, rectangular, and oval shapes - slotted pipes PS Raj Steels serves various industries, including railways, furniture, household applications, gate railings, door frames, rice plants, sugar mills, food processing, and heat exchangers. The company's manufacturing facility is located in Hissar, Haryana, covering an area of 3 acres. With a well-established distribution network across 18 Indian states, the company directly engages with OEMs to ensure timely deliveries and customized solutions. It also has a strong network of 77 dealers across different states. As of January 31, 2025, the company employs a total of 114 individuals, including non-contract labor. The company's competitive strengths include: - a strong distribution network with a customer-centric approach - an experienced team of promoters and senior management - an integrated manufacturing facility - a long-standing association with the stainless steel industry
Year Founded
09-11-2004
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 73.2 |
| Share Capital | 5518314 | 5518314 |
Offer to Public
14,51,000.00 Cr
Project Details
- Working Capital Requirement including margin money - 265cr
Objectives
- To meet the working capital requirements of the Company.
Highlights
- Offers over 250 sizes with customization options to cater to diverse customer needs.
- Partnership with Jindal Stainless Limited (JSL) ensures a cost-effective and reliable supply of raw materials.
- Presence across 18 states, leveraging OEMs and dealers for widespread market reach.
- Significant contribution from both dealers (60%) and direct sales (40%), reducing dependency on a single channel.
- Regularly upgrades its manufacturing facility to align with evolving market demands and maintain competitiveness.
Challenges
- Business operations are concentrated in four states, making it vulnerable to regional economic and regulatory risks.
- Heavy reliance on Jindal Stainless Limited (JSL) for 95% of raw materials could lead to supply disruptions or price volatility.
- Absence of long-term supply contracts with JSL or key suppliers increases the risk of procurement challenges.
- Over 60% of revenue comes from the top 10 customers, making the business highly dependent on a limited client base.
- The business is working capital intensive, requiring substantial financial resources to maintain operational liquidity and growth.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 4,564.02 | 61.31 | 357.08 | 357.08 | 6.4713 |
| 2024 | 5,166.44 | 61.31 | 636.29 | 636.29 | 11.5314 |
| 2023 | 7,377.16 | 61.31 | 357.08 | 357.08 | 6.4713 |
