The initial public offering of PS Raj Steels received a good response from the investors as the issue was booked 9.82 times on Friday, February 14. The SME IPO was subscribed over five times on day two of bidding on Thursday. The public issue was fully subscribed on Day 1, led by demand from Non-institutional investors.
According to Chittorgarh, the Rs 28.28 crore IPO received bids for 1,32,56,000 shares against 13,50,000 on offer.
Non-institutional investors subscribed 21.39 times the offer, while Qualified Institutional Buyers (QIBs) booked the issue 1.21 times. The portion for Retail Individual Investors (RIIs) was subscribed 10.04 times.
The steel pipe and tube manufacturer which sources raw materials from Jindal Stainless Ltd., aims to raise Rs 28.28 crore through the IPO. The company intends to allocate Rs 23.5 crore from the IPO proceeds for working capital requirements, including margin money, with the remaining funds to be used for issue-related expenses.
Here's what investors need to know about the grey market premium, allotment and listing details of the PS Raj Steels IPO.
PS Raj Steels IPO Allotment And Listing Date
The allotment for the PS Raj Steels IPO will be finalised on Monday, February 17 and the company will list on the National Stock Exchange's SME platform, Emerge, on Wednesday, February 19.
How To Check PS Raj Steels IPO Allotment Status On NSE Website
Visit the IPO allotment page on the NSE website here: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Select 'Equity & SME IPO bid details'.
Select the company symbol 'PSRAJ' in the dropdown list.
Enter PAN details and Application Number.
Click on the Submit button to verify your share allotment status.
How To Check PS Raj Steels IPO Allotment Status On Bigshare Services
Visit the IPO allotment page on the Bigshare Services website here: https://www.bigshareonline.com/ipo_allotment.html
Select any one server to check your IPO Allotment Status.
Select the company name 'PS Raj Steels Limited' from the dropdown list on the IPO allotment status page.
Enter the investor PAN Number or Application/CAF Number or DP/Client ID.
Fill in the captcha details.
Click on the Search button to verify your share allotment status.
PS Raj Steels IPO GMP Today
The grey market premium on the PS Raj Steels IPO suggested a possible flat listing for the shares of the company. According to InvestorGain, the PS Raj Steels IPO GMP stood at Rs 0 at 12:53 p.m. on February 17.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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