The SME initial public offering ( IPO ) of PS Raj Steels , which opened for public bidding on February 12, was fully subscribed on Thursday with an overall subscription of 3.62 times as of 01:05 PM on the second day of bidding. The company aims to raise Rs 28.28 crore through a fresh issue of 20.20 lakh shares, with the issue closing on February 14. The retail portion of the issue was subscribed by 3.32 times, while the issue was subscribed by 8.3 times in the non-institutional investors category on the second day of bidding. Meanwhile, the qualified institutional buyers had subscribed to 79% of the allotted portion. PS Raj Steels IPO’s GMP on Day 2 Ahead of listing , the company's shares had no GMP in the unlisted market on Thursday. PS Raj Steels IPO price band PS Raj Steels has fixed a price band of Rs 132-140 per share. Investors can bid for 1000 shares in one lot and in multiples thereafter. Proceeds from IPO The company has proposed to use the net proceeds from the IPO towards working capital requirements and other general corporate purposes. Stock TradingMaximise Returns by Investing in the Right CompaniesBy - The Economic Times, Get Certified By India's Top Business News BrandView Program Stock TradingMarket 104: Options Trading: Kickstart Your F&O AdventureBy - Saketh R, Founder- QuickAlpha, Full Time Options TraderView Program Stock TradingTechnical Analysis for Everyone - Technical Analysis CourseBy - Abhijit Paul, Technical Research Head, Fund Manager- ICICI SecuritiesView Program Stock TradingStock Markets Made EasyBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingRenko Chart Patterns Made EasyBy - Kaushik Akiwatkar, Derivative Trader and InvestorView Program Stock TradingCandlesticks Made Easy: Candlestick Pattern CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingMarket 101: An Insight into Trendlines and MomentumBy - Rohit Srivastava, Founder- Indiacharts.comView Program Stock TradingMarkets 102: Mastering Sentiment Indicators for Swing and Positional TradingBy - Rohit Srivastava, Founder- Indiacharts.comView Program Stock TradingMarket 103: Mastering Trends with RMI and Techno-Funda InsightsBy - Rohit Srivastava, Founder- Indiacharts.comView Program Stock TradingDow Theory Made EasyBy - Vishal Mehta, Independent Systematic TraderView Program Stock TradingROC Made Easy: Master Course for ROC Stock IndicatorBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingRSI Made Easy: RSI Trading CourseBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingHeikin Ashi Trading Tactics: Master the Art of TradingBy - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology ExpertView Program Stock TradingRSI Trading Techniques: Mastering the RSI IndicatorBy - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology ExpertView Program Stock TradingIntroduction to Technical Analysis & Candlestick TheoryBy - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology ExpertView Program PS Raj Steels IPO allotment and listing date The share allotment for the IPO will be finalised on February 17 and the listing of the shares is scheduled on February 19, with the shares set to list on the NSE SME platform. About PS Raj Steels IPO The company is a manufacturer and supplier of stainless-steel pipes and tubes in India. Its product mainly includes outer diameter (OD) pipes, nominal bore (NB) pipes, section pipes and slotted pipes with an extensive array of over 250 standard sizes. In addition to its core manufacturing operations, as on September 2024, about 25.42% of the company's revenue come from trading in stainless-steel coils and strips, sheets and plates, and bars. It serves a wide range of sectors including railways, furniture, households, gate railing, door frames, rice plants, sugar mills, food processing and heat exchanger etc. Some of the items produced by these manufacturers include trolleys for airports made of SS pipes, pipes used in plant and machinery for sugar, rice, and food processing industries. Moreover, the SS pipes are also supplied to manufacturers of heat exchangers and boilers. Khambatta Securities is the book-running lead manager of the IPO, while Bigshare Services is the registrar. Also read | LK Mehta Polymers IPO opens today: Check price band, GMP, key dates and other details (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
