P S Raj Steels Set for IPO Launch on NSE Emerge

P S Raj Steels plans to launch an IPO with a price band of Rs 132-140 per share, aiming to raise Rs 28 crore. The IPO will consist of fresh issue shares and will conclude on February 14, with funds used primarily for working capital and issue expenses.

P S Raj Steels, a key player in the stainless-steel manufacturing sector, announced on Thursday that it has set the price for its upcoming initial public offering (IPO) between Rs 132-140 per share, targeting the capital markets on February 12.

The Rs 28-crore offering will end on February 14, with shares to be listed on the NSE's SME platform, Emerge. The IPO includes a total of 20.20 lakh fresh equity shares, each at a face value of Rs 10.

The company intends to use Rs 26.50 crore from the IPO for working capital, while the remaining funds will cover issue-related costs. P S Raj Steels posted Rs 139.11 crore in revenue, achieving a net profit of Rs 3.86 crore in the first half of the current fiscal year. Khambatta Securities is managing the IPO process, with Bigshare Services appointed as the registrar.