PS Raj Steels SME IPO Subscription Status
PS Raj Steels SME IPO closed on 14 February 2025 with an overall subscription of 9.82x based on shares applied. QIB demand came in at 1.21x, NII at 21.39x, and retail at 10.03x.
Allotment will be finalised on 17 February 2025. The stock is scheduled to list on NSE and BSE on 19 February 2025.
Issue Price
Rs 140.00
GMP Today
Rs 3.00 (+2.14%)
Overall Subscription
9.82x
Issue Size
₹28.28 Cr
Allotment Date
17 Feb 2025
Listing Date
19 Feb 2025
PS Raj Steels SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 140.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 5.32 Cr | Rs 6.44 Cr | 1.21x |
| NII | Rs 3.99 Cr | Rs 85.36 Cr | 21.39x |
| IND | Rs 9.31 Cr | Rs 93.38 Cr | 10.03x |
| Total | Rs 18.62 Cr | Rs 185.18 Cr | 9.95x |
PS Raj Steels SME IPO Subscription by Shares
Category-wise subscription based on shares bid. Application-wise bid counts are not available for this IPO yet.
| Category | Shares Offered | Shares Bid | Subscription |
|---|---|---|---|
| QIB | 3,80,000 | 4,60,000 | 1.21x |
| NII | 2,85,000 | 60,97,000 | 21.39x |
| IND | 6,65,000 | 66,70,000 | 10.03x |
| Total | 13,30,000 | 1,32,27,000 | 9.95x |
What Do These Subscription Numbers Mean?
A subscription of 9.82x by shares means the IPO received bids for 10 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 1.21x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 1.21x, it reflects serious institutional conviction.
NII at 21.39x by shares: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription.
Retail at 10.03x by shares: Allotment is by lottery, but application-wise data is needed for accurate 1-in-X odds. Share oversubscription often overstates how hard allotment is.
PS Raj Steels SME IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail (IND)
- •Share subscription: 10.03x (application-wise data pending).
- •Allotment odds will be updated once application subscription is synced.
Check the PS Raj Steels SME IPO Allotment Status page from 17 February 2025 for your allotment result.
PS Raj Steels SME IPO GMP After Subscription
GMP for PS Raj Steels SME stands at Rs 3.00 today, giving an estimated listing price of Rs 143.00 per share.
A subscription of 9.82x combined with a GMP of 2.14% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the PS Raj Steels SME IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
PS Raj Steels SME IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 12 Feb 2025 | 0.79x | 3.72x | 1.96x | 1.98x |
| Day 2 - 13 Feb 2025 | 0.79x | 12.25x | 5.37x | 5.47x |
| Day 3 - 14 Feb 2025 | 1.21x | 21.39x | 10.03x | 9.82x |
PS Raj Steels SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 12 February 2025 |
| IPO Close Date | 14 February 2025 |
| Allotment Date | 17 February 2025 |
| Refund Initiation | 18 February 2025 |
| Share Credit to Demat | 18 February 2025 |
| Listing Date | 19 February 2025 |
| Minimum Investment | Rs 2,80,000.00 |
| Lot Size | 1000 shares |
About PS Raj Steels SME
PS Raj Steels Limited, established in November 2004, manufactures and supplies stainless steel pipes and tubes in India. The company offers a variety of products, including OD pipes (½ inch to 18 inches), NB pipes (3/8 inch to 18 inches), section pipes (square, rectangular, and oval), and slotted pipes. Its products serve industries such as railways, furniture, households, gate railings, door frames, rice plants, sugar mills, food processing, and heat exchangers.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
IND - Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
PS Raj Steels SME IPO Subscription FAQs
What is PS Raj Steels SME IPO subscription status today?
PS Raj Steels SME IPO subscription closed on 14 February 2025 with overall subscription of 9.82x (by shares) as of 27 June 2026, 2:47 AM IST. QIB 1.21x, NII 21.39x, IND 10.03x.
What is the overall subscription of PS Raj Steels SME IPO?
PS Raj Steels SME IPO is subscribed 9.82x overall by shares at close on 14 February 2025. QIB 1.21x, NII 21.39x, and IND 10.03x.
What is PS Raj Steels SME IPO QIB subscription?
PS Raj Steels SME IPO QIB (Qualified Institutional Buyers) subscription is 1.21x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is PS Raj Steels SME IPO IND subscription?
PS Raj Steels SME IPO IND subscription is 10.03x by shares. Minimum retail bid is up to Rs 2 lakh per PAN.
What is PS Raj Steels SME IPO NII subscription?
PS Raj Steels SME IPO NII (Non-Institutional Investors) subscription is 21.39x by shares. NII covers bids above Rs 2 lakh.
What are allotment chances in PS Raj Steels SME IPO for retail?
PS Raj Steels SME IPO retail share subscription is 10.03x. Application-wise data is needed for accurate lottery odds.
When is PS Raj Steels SME IPO allotment date?
PS Raj Steels SME IPO allotment date is 17 February 2025. Check PS Raj Steels SME IPO Allotment Status on IPOwiz from that day using your PAN.
When does PS Raj Steels SME IPO subscription close?
PS Raj Steels SME IPO subscription closed on 14 February 2025. No new applications are accepted after the close.
What is PS Raj Steels SME IPO GMP today?
PS Raj Steels SME IPO GMP is ₹3 today (+2.14% over issue price ₹140). See live GMP on the PS Raj Steels SME IPO GMP Today page.
What is PS Raj Steels SME IPO issue price and lot size?
PS Raj Steels SME IPO issue price is ₹140 per share. Lot size is 1000 shares. Minimum investment is ₹2,80,000 per lot (minimum 2 lots for SME). Issue size: ₹28.28 Cr.
When is PS Raj Steels SME IPO listing date?
PS Raj Steels SME IPO listing date is 19 February 2025 on NSE and BSE. Allotment is on 17 February 2025.
How does subscription affect PS Raj Steels SME IPO allotment?
Allotment odds in PS Raj Steels SME IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII uses proportional allotment by applications. At 9.82x overall, competition is moderate.
For allotment results from 17 February 2025, visit the PS Raj Steels SME IPO Allotment Status page. For listing day updates on 19 February 2025, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.