Rajputana Stainless Limited
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Having completed its public offering, Rajputana Stainless Limited's is now listed and trading on the NSE, BSE exchange as of Mar 19, 2026. The IPO raised cumulative capital of 2,09,00,000 Shares, including 1,46,50,000 Shares in primary capital infusion and ₹76.25 Cr in secondary market transactions.
The IPO was conducted with a price range of ₹116 to ₹122 and minimum investment requirement of 110 shares. subscription activity between Mar 09, 2026 and Mar 11, 2026 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on Mar 17, 2026 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
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.
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."
- 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.
- 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.
- Shankarlal Deepchand Mehta
- Babulal D Mehta
- Jayesh Natvarlal Pithva
- Yashkumar Shankarlal Mehta
Rajputana Stainless Limited
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