PS Raj Steels IPO Upcoming
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Schedule of PS Raj Steels
| Issue open date | 12 Feb 2025 |
| Issue close date | 14 Feb 2025 |
| UPI mandate deadline | 14 Feb 2025 (5 PM) |
| Allotment finalization | 17 Feb 2025 |
| Refund initiation | 18 Feb 2025 |
| Share credit | 18 Feb 2025 |
| Listing date | 19 Feb 2025 |
| Mandate end date | 01 Mar 2025 |
| Lock-in end date for anchor investors (50%) | 19 Mar 2025 |
| Lock-in end date for anchor investors (remaining) | 18 May 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About PS Raj Steels
Incorporated in November 2004, PS Raj Steels Limited is engaged in the manufacturing and supply of stainless steel pipes and tubes in India. The company’s product range includes OD pipes, NB pipes, section pipes, and slotted pipes, catering to sectors such as railways, furniture, food processing, and heat exchangers. With a manufacturing unit in Hissar, Haryana, and a distribution network spanning 18 Indian states, the company caters to Original Equipment Manufacturers (OEMs) and traders, supported by 77 dealers. It generates revenue from both manufacturing and trading stainless-steel products.
Financials of PS Raj Steels
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹28.28 crores |
| Fresh Issue | ₹28.28 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working Capital Requirement | 26.5 (93.71%) |
Strengths
- Diverse product range with over 250 sizes and customization options.
- Cost-effective supply chain through a partnership with Jindal Stainless Limited (JSL).
- Strong distribution across 18 states, with OEMs and dealers contributing to revenue.
- Significant revenue from dealers (60%) and direct sales (40%).
- Continuously upgraded manufacturing facility to meet market demands.
Risks
- Business is concentrated in four states, exposing the company to regional risks.
- Heavy reliance on Jindal Stainless Limited (JSL) for 95% of raw materials poses supply chain risks.
- No long-term supply agreements with JSL or key suppliers, leading to potential disruptions.
- Over 60% of revenue comes from the top 10 customers, indicating high revenue concentration.
- Business is working capital intensive, requiring significant funds for operational liquidity.
- Fluctuations in steel prices can negatively affect profitability.
Allotment Status for PS Raj Steels
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