Rajputana Stainless Limited IPO
Offer Date :
₹ Offer Price
Lot Size
Subscription
Allotment Date
Listing Date
Ipo Details
Subscription
Lot Distribution
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Company Financials
₹1 (0.82%)
Premium (ELP)
Rajputana Stainless Limited's is currently accepting investment commitments through its live IPO, with a total issue size of 2,09,00,000 Shares. The fresh capital component of 1,46,50,000 Shares and OFS portion of ₹76.25 Cr together represent the complete public offering.
Investors can place their bids within the active price range of ₹116 to ₹122, starting from the minimum application size of 110 shares. The ongoing Subscription reflects market sentiment toward the company's valuation and prospects.
The Subscription window remains open until 11-03-2026, after which the allotment process will commence on 12-03-2026. Trading activities will initiate on 16-03-2026 across the NSE, BSE trading network.
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.
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
- 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.
- 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.
- 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
- 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.
- 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.
- 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)
- Shankarlal Deepchand Mehta
- Babulal D Mehta
- Jayesh Natvarlal Pithva
- Yashkumar Shankarlal Mehta
Rajputana Stainless IPO FAQs
Rajputana Stainless Limited IPO subscribed 1.12 times. The public issue subscribed 0.27 times in the retail category,2.51 times in QIB, and 3.74 times in the HNI (10+) category byMarch 12, 2026 4:24:22 AM (Day 12).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Rajputana Stainless IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Rajputana Stainless IPO FAQs
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Rajputana Stainless Limited was listed on the stock exchange on 2026-03-16. The IPO was subscribed 1.12x. The last GMP for Rajputana Stainless Limited IPO was ₹1, updated on March 12, 2026 4:24:22 AM (Day 12). As per the last GMP, the expected profit/loss for the IPO was ₹1.
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