P S Raj Steels Ltd Gears Up for IPO to Accelerate Expansion

Stainless-steel pipes and tubes manufacturer P S Raj Steels Ltd is preparing for an IPO to fund its growth plans. The company aims to expand beyond existing markets in India and achieve Rs 500 crore in revenue by FY27. Khambatta Securities Ltd will manage the IPO.

P S Raj Steels Ltd, a leading manufacturer of stainless-steel pipes and tubes, announced on Tuesday plans to raise funds through an initial public offering (IPO) to support its growth ambitions.

Headquartered in Hisar, Haryana, the company aims to expand its operations beyond its current 19-state footprint in India, which includes Uttar Pradesh, Haryana, Punjab, Madhya Pradesh, Delhi, and Rajasthan. Managing Director Deepak Kumar stated that this move is crucial for achieving PSSR's goal of Rs 500 crore in revenue by FY27.

To facilitate this expansion, the company has appointed Khambatta Securities Ltd as the book running lead manager for the IPO. P S Raj Steels operates a manufacturing plant with an installed capacity of 13,460 metric tonnes per annum, spread over three acres in Hisar.

(With inputs from agencies.)