P S Raj Steels Debuts on NSE Emerge at ₹145

P S Raj Steels Limited, a leading manufacturer of stainless-steel pipes and tubes, debuted on NSE Emerge at ₹145, exceeding its fixed price band of ₹140.
The IPO received strong investor interest, with an overall subscription of 9.82 times, garnering bids worth over ₹185 crore. The QIB portion was subscribed 1.21 times, NII quota 21.39 times, employee portion 1.2 times, and RII quota 9.82 times.
The IPO comprised a fresh issue of 20.20 lakh equity shares via book-building. Khambatta Securities Limited acted as the sole Book Running Lead Manager, with Bigshare Services Private Limited as the Registrar.
Anchor investors included Vikasa India EIF I Fund, Rajasthan Global Securities, Smart Horizon Opportunity Fund, Kingsman Wealth Fund, and Zeta Global Funds. The company allotted 5.69 lakh shares to anchor investors, 1.01 lakh to the market maker, 3.8 lakh to QIBs, 2.85 lakh to NIIs, 20,000 to employees, and 6.65 lakh to RIIs.