PS Raj Steels: PS Raj Steels shares get listed at 3.57% premium!PS Raj Steels: PS Raj Steels shares get listed at 3.57% premium!

PS Raj Steels Ltd had a modest debut on NSE Emerge, listing at ₹145, a 3.57% premium over its ₹140 IPO price. Shortly after opening, the stock gained another 2%, reaching ₹147.90 during early trading on February 19.

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The PS Raj Steels SME IPO saw strong demand, subscribed 9.82 times during its three-day bidding period. Investors applied for over 1.32 crore shares against 13.5 lakh available. The ₹140-per-share issue included 20.2 lakh fresh shares, with no offer-for-sale component.

PS Raj Steels Ltd, incorporated in 2004, is a leading manufacturer and supplier of stainless steel pipes and tubes in India. The company also trades stainless steel products and serves diverse industries. Its state-of-the-art Hisar, Haryana facility spans 3 acres with a 13,460-tonne annual capacity.

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The objective of the PS Raj Steels IPO is to fund working capital requirements, support business expansion, and enhance manufacturing capabilities. The proceeds will also be used for general corporate purposes to strengthen the company’s operational efficiency and market presence.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.