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Rajputana Stainless Limited IPO

Rajputana Stainless Limited IPO

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GMP: ₹ 0 (0.00%)

Market participants are tracking the upcoming IPO of Rajputana Stainless Limited's, which seeks to mobilize 2,09,00,000 Shares from public investors. The offering includes 1,46,50,000 Shares in primary capital and ₹76.25 Cr in secondary share sales, creating a balanced offering structure.

The pricing parameters have been established at ₹116 to ₹122, with the minimum application size requiring 110 shares. This valuation approach considers market conditions, company fundamentals, and investor expectations.

Investment applications will be accepted from 09-03-2026 through 11-03-2026. The allotment date is fixed for 12-03-2026, followed by the commencement of trading activities on 16-03-2026 at the NSE, BSE trading platform.

Rajputana Stainless IPO Details
Lot(s) Distribution

Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.

IPO Reservation
Rajputana Stainless IPO Key Performance Indicator
Company Financials ( In Crores )

Rajputana Stainless IPO About Company

Established in 1991, Rajputana Stainless Limited operates in the stainless-steel manufacturing sector, producing both long and flat stainless-steel products across more than 80 grades to serve industries such as seamless pipes, aerospace, forging, oil & gas, defense, automotive, aviation, and precision engineering. The company’s diversified portfolio includes billets, forging ingots, rolled black and bright bars, flat and patti products, and other ancillary items, with sales driven primarily through domestic direct sales and trader networks, along with exports to markets such as the UAE, USA, Turkey, Kuwait, and Poland. Its integrated manufacturing facility, spread over 35,196.98 sq. m. in Kalol, Gujarat, is equipped with advanced infrastructure including an induction furnace, AOD converter, continuous casting machine (CCM), heat treatment units, rolling mill, and bright bar shop, enabling efficient end-to-end production. Key products include billets used in forging and rolling processes, cast ingots for open-die forging and re-rolling with ensured traceability, and hexagonal bars widely used in nuts, valves, fasteners, hose ends, and hex bolts.

Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."

The expected premium is based on market buzz and online information. It should not be considered as the actual listing price or valuation. Always refer to the RHP and seek advice from a financial expert before making any investment decisions.

Rajputana Stainless IPO Strength Factors

  1. Integrated Manufacturing Facility at Strategic Location: The Company operates a fully integrated stainless-steel manufacturing facility at Kalol, Gujarat, spanning the entire value chain from melting to finishing. Key infrastructure—including an induction furnace, AOD converter, continuous casting machine (CCM), rolling mill, bright bar shop, and in-house oxygen and nitrogen plants—reduces reliance on third parties and enhances operational control and efficiency.
  2. Established Customer Relationships: With over two decades of operations, the Company has built strong, customer-focused relationships by delivering customized stainless-steel solutions, supporting repeat business and sustained industry presence.
  3. Experienced Promoters & Management: Guided by Promoters with more than five decades of combined experience in the steel industry, the leadership team drives strategic direction, innovation, capacity expansion, and operational excellence.

Rajputana Stainless IPO Risk Factors

  1. Customer Concentration Risk: A substantial portion of revenue is generated from the top 10 customers, largely comprising manufacturers, and not all relationships are governed by long-term contracts. Any loss of key customers or reduction in order volumes could materially impact revenue visibility and cash flows.
  2. Litigation Risk: The Company, its Promoters, Directors, and Key Managerial Personnel are involved in ongoing legal proceedings amounting to ₹12,861.77 lakhs (approximately 72.81% of net worth). Any unfavorable outcome could adversely affect its financial position, reputation, and operational continuity.
  3. Geographical Concentration Risk: Manufacturing operations are primarily concentrated in Gujarat, including the proposed expansion within the same premises. Regional disruptions, economic slowdowns, or unforeseen events could negatively impact production capacity, sales performance, and overall profitability.

Rajputana Stainless IPO Lead Manager(s)

  • Nirbhay Capital Services Private Limited

Rajputana Stainless IPO Promoter(s)

  1. Shankarlal Deepchand Mehta
  2. Babulal D Mehta
  3. Jayesh Natvarlal Pithva
  4. Yashkumar Shankarlal Mehta

Rajputana Stainless IPO Company Details

Rajputana Stainless Limited
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Rajputana Stainless IPO Registrar

Kfin Technologies Limited
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Rajputana Stainless IPO FAQs