P S Raj Steels To Float IPO

New Delhi: Haryana-based P S Raj Steels on Monday said it has received in-principle approval from NSE’s SME platform Emerge to raise funds through an initial public offering.P S Raj Steels Ltd (PSSR), a stainless-steel pipes and tubes manufacturer, received the approval from NSE’s Small and Medium Enterprises (SME) platform Emerge on January 2, the company said in a statement.

The company had filed its draft red herring prospectus (DRHP) with NSE Emerge in September 2024. PSSR is currently in the process of filing its Red Herring Prospectus (RHP) with updated information and expects to list on NSE Emerge, it added. The initial public offering (IPO) is entirely a fresh issue of up to 20.20 lakh equity shares with a face value of Rs 10 each, as per the draft papers.