PS Raj Steels IPO allotment to be finalised today; here’s GMP, how to check status

The share allotment of PS Raj Steels initial public offering (IPO) will be finalised today, Monday, February 12. Investors, who had subscribed for the SME IPO, will get to know if the shares have been allocated to them or not.

PS Raj Steels IPO saw strong demand, particularly from non-institutional investors, leading to a subscription exceeding 9 times at closing.

PS Raj Steels IPO GMP

PS Raj Steels' GMP has been declining and currently stands at ₹0, indicating no premium over the issue price. The IPO was launched at ₹140 per share, with the listing scheduled for February 19.

PS Raj Steels IPO details

PS Raj Steels IPO is a book built issue of ₹28.28 crores. The issue is entirely a fresh issue of 20.20 lakh shares.

The IPO price band is set at ₹140 per share. The company will utilize the net proceeds for working capital needs and other general corporate purposes.

PS Raj Steels specializes in manufacturing a wide range of stainless-steel pipes and tubes, including outer diameter (OD) pipes, nominal bore (NB) pipes, section pipes, and slotted pipes, offering more than 250 standard sizes.

These manufacturers produce various items, including airport trolleys made from stainless steel (SS) pipes, as well as pipes used in plant and machinery for the sugar, rice, and food processing industries. Additionally, SS pipes are 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.

How to check PS Raj Steels IPO allotment status?

Investors can verify the PS Raj Steels IPO allotment status through the NSE or the registrar's official website.

NSE

1. Open the NSE website https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_log
2. Select the name of IPO - PS Steels IPO - in the drop down menu.
3. Enter application number, PAN number.
4. Click on ‘submit’ to check status.

Bigshare Services

1. Open the Bigshare Services website - https://ipo.bigshareonline.com/IPO_Status.html
2. Select PS Steels IPO from the drop down menu.
3. Enter PAN details.
4. Click on ‘submit’ to know your allotment status.