PSL Limited is a large-diameter steel pipe manufacturer incorporated in 1987 in Daman, using technology from Germany and Italy for SAW pipes used in oil, gas, water, and structural applications.

What is PSL Limited's ISIN?

PSL Limited's ISIN is INE474A01017.

Why is PSL Limited's share price so low at ₹0.01?

PSL Limited has undergone severe financial distress including debt defaults, NPA classification by lenders, and insolvency proceedings under IBC, which has led to near-total erosion of equity value.

Is PSL Limited listed or unlisted?

PSL Limited has a public limited company structure (CIN prefix 'L') and has ISIN INE474A01017, but the company is currently classified as unlisted/delisted from active trading exchanges.

Who are the promoters of PSL Limited?

PSL Limited was founded and promoted by the Ashok Punj family group. However, promoter stake may have changed materially due to insolvency and resolution proceedings.

How do I buy PSL Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for PSL Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell PSL Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

PSL Limited Unlisted Share Price | Buy PSL Limited Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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PSL Limited Unlisted Share Price | Buy PSL Limited Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

PSL Limited is a deeply distressed unlisted company in insolvency proceedings with near-zero equity value at a share price of ₹0.01. While the company's manufacturing assets and technology heritage in large-diameter pipe production have strategic value, the equity is essentially impaired. Investment in PSL Limited at this stage is highly speculative and is not recommended for risk-averse investors. Any value recovery is contingent on a successful IBC resolution by a capable strategic buyer.

Pros

Pioneering large-diameter submerged arc welded (SAW) steel pipe manufacturer in India with European technology (Germany and Italy)
Strong domain expertise in coating technologies (FBE, 3LPE, concrete weight coating) critical for oil and gas pipeline projects
Historically one of the largest pipe manufacturers in India with significant export presence in the Middle East and global markets
Positioned to benefit from India's city gas distribution (CGD) expansion and natural gas pipeline infrastructure build-out
Long operational history since 1987 with deep client relationships with ONGC, GAIL, IOC, and global energy majors

Cons

Company has faced severe financial stress including debt restructuring and insolvency proceedings — extremely high financial risk
Extremely low share price (₹0.01) reflects near-total impairment of equity value due to accumulated losses and liabilities
Subject to NCLT/IBC proceedings in recent years; resolution plan uncertainty creates existential risk for equity shareholders
Steel pipe manufacturing is a highly capital-intensive, cyclical business highly sensitive to steel prices and energy project capex cycles
Intense competition from Welspun, Jindal SAW, Man Industries, and Maharashtra Seamless in the same product segments

Business Segments

Large Diameter SAW Pipes

Submerged arc welded large diameter steel pipes for oil, gas, and water transmission pipelines

Coated Pipes & Anti-Corrosion Coating

FBE, 3LPE, and concrete weight-coated pipes for offshore and onshore pipeline applications

Structural Pipes & Other Products

Structural steel pipes for construction and infrastructure applications

Revenue Model

Revenue from manufacturing and supply of large-diameter steel pipes to oil and gas companies, water utilities, and infrastructure developers. Revenue is project-based with large order-driven lumpiness.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

Successful IBC resolution with a strategic acquirer bringing fresh capital and operational expertise

India's gas pipeline and CGD network expansion creating demand for large-diameter pipes

Global energy transition infrastructure investments creating new pipe demand

Industry Tailwinds

Successful IBC resolution with a strategic acquirer bringing fresh capital and operational expertise

Recent Developments

IBC resolution status

PSL Limited remains subject to insolvency and resolution proceedings before NCLT; resolution applicants have been evaluated though final outcome has been uncertain.

2023-01

Asset preservation

Manufacturing assets at PSL's plants continue to be preserved under IRP oversight, retaining potential value for any resolution applicant proposing operational revival.

2022-06

Comparable Companies

CompanyTypeTickerMkt Cap

Welspun CorpListedWELCORP~₹10,000 Cr

Jindal SAWListedJINDALSAW~₹15,000 Cr

Man Industries (India)ListedMANINDS~₹1,500 Cr

Welspun CorpListed

WELCORP · ~₹10,000 Cr

Frequently Asked Questions

About PSL Limited

PSL Limited (formerly known as Pipes and Steel Limited) was one of India's premier manufacturers of specialty High-frequency Straight-seam and Helical-submerged Arc-welded (HSAW) pipes. Incorporated on 24 August 1987 and registered in Daman, the company built a strong presence in the Indian infrastructure pipeline segment over three decades, supplying large-diameter steel pipes for oil and gas transmission, water supply, and other infrastructure applications. At its operational peak, PSL Limited's product portfolio included HSAW pipes, anti-corrosive coated steel pipes, induction pipe bending services, sacrificial anode installations, and anti-corrosive treatment services. The company served marquee clients including oil and gas companies (ONGC, IOCL, BPCL), water supply authorities, and state and central government infrastructure agencies. PSL's manufacturing capabilities and specialization in corrosion control services made it a preferred supplier for large-scale cross-country pipeline projects. The company had an authorized share capital of Rs. 180 crore and paid-up capital of Rs. 124.93 crore — reflecting its large operational scale. PSL maintained corporate operations and a registered office in Daman and Diu (a Union Territory), with its production facilities located at Gandhidham, Gujarat — one of India's key industrial and port locations. However, like several infrastructure companies of that era, PSL Limited faced severe financial stress in the 2010s, driven by working capital challenges, order execution delays, and rising interest costs. The company's operations deteriorated, and it has been in insolvency/liquidation proceedings. The last filed balance sheet was for FY2018-19, and the company is currently under liquidation per MCA records — a status that significantly impacts the value of its shares and the claims of creditors.

Key Milestones

1987 — PSL Limited incorporated in Daman with technology collaboration from German and Italian pipe manufacturers

Common questions about unlisted shares

How do I buy PSL Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?
Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

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