PS Raj Steels IPO allotment: How to check status online on NSE, Bigshare Services

PS Raj Steels IPO allotment status is scheduled to be finalised on Monday, February 17. Investors waiting for the company’s share allotment can check the details of the same on the National Stock Exchange (NSE) website. The IPO allotment status can also be checked on the portal of the issue registrar, Bigshare Services Pvt. Ltd.

The ₹28.28-crore initial public offer of the stainless steel pipes manufacturer was open for bidding from February 12 to February 14.

The IPO was overall subscribed 9.82 times on the last day of bidding with applications for more than 1.32 crore shares against 13.5 lakh shares on offer.

The NSE SME issue received bids for over 66.75 lakh shares against the allocation of 6.65 lakh shares in the retail category. The retail portion was booked 10 times.

The Non-Institutional Investors (NIIs) subscribed their quota more than 21 times with bids for nearly 61 lakh shares against the reserved portion of 2.85 lakh shares. The Qualified Institutional Buyers (QIBs) fully subscribed their quota with bids for 4.6 lakh shares compared to the allocation of 3.8 lakh shares.

Steps to check PS Raj Steels IPO allotment status online on NSE

• Go to the IPO allotment status page on the NSE website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘equity and SME IPO bid details’
• Choose ‘PSRAJ’ as the issue symbol
• Enter PAN and Application Number
• Click on ‘Submit’ to view IPO allotment status

How to check PS Raj Steels IPO allotment status on Bigshare Services

• Open the IPO allotment status page on the official website of issue registrar, Bigshare Services Pvt. Ltd: https://www.bigshareonline.com/ipo_allotment.html
• Choose any Server from three options
• Select PS Raj Steels Ltd from the drop-down menu for company names
• Enter details for any of these— PAN, Application Number, Beneficiary ID
• Complete Captcha verification
• Click on the ‘Submit’ button

It’s important to note that the IPO allotment status will only appear after the company finalises the share allocation.

PS Raj Steels IPO key details

• PS Raj Steels IPO comprised only a fresh issue of 20.2 lakh shares, worth up to ₹28.28 crore.
• The company had fixed an issue price of ₹140 per share for the IPO. The minimum lot size was 1,000 shares.
• Khambatta Securities Ltd is the book-running lead manager of PS Raj Steels IPO. Nikunj Stock Brokers Ltd is the market maker for the public offer.
• After the share allotment, the company will initiate refunds on Tuesday, February 18. The allottees will also receive shares in the Demat accounts on the same day.
• The company has proposed to list its shares on the NSE SME platform on Wednesday, February 19.

About PS Raj Steels and use of IPO proceeds

PS Raj Steels Ltd is a key manufacturer and supplier of stainless steel pipes and tubes in India, with an extensive range of products. It is also engaged in trading stainless-steel products such as coils and strips, sheets and plates, and bars. The company caters to customers across a diverse range of sectors, including railways, furniture, household applications, gate railings, door frames, rice plants, sugar mills, food processing and heat exchangers.

PS Raj Steels boasts a robust infrastructure with a state-of-the-art manufacturing unit located in Hisar, Haryana. The facility spans an area of three acres and has an impressive installation capacity of 13,460 metric tons per annum.

The company intends to utilise the funds generated from the issue to meet its working capital requirements.

PS Raj Steels’ revenue from operations stood at ₹139.11 crore during the six-month ended September 30, 2024. The company’s net profit during the period under review stood at ₹3.86 crore.

In FY24, the company reported a revenue of ₹297.74 crore along with a net profit of ₹6.36 crore.