Rajputana Stainless IPO
Rajputana Stainless IPO
Overview
Rajputana Stainless IPO is a book build issue of ₹254.98 crores. The issue is a combination of fresh issue of 1.47 crore shares aggregating to ₹178.73 crores and offer for sale of 0.63 crore shares aggregating to ₹76.25 crores. Rajputana Stainless IPO opens for subscription on Mar 9, 2026 and closes on Mar 11, 2026. The allotment for the Rajputana Stainless IPO is expected to be finalized on Mar 12, 2026. Rajputana Stainless IPO will list on BSE, NSE with a tentative listing date fixed as Mar 16, 2026. Rajputana Stainless IPO price band is set at ₹116 to ₹122 per share. The lot size for an application is 110. The minimum amount of investment required by an retail is ₹13,420 (110 shares) (based on upper price). The lot size investment for sNII is 15 lots (1,650 shares), amounting to ₹2,01,300, and for bNII, it is 75 lots (8,250 shares), amounting to ₹10,06,500. Nirbhay Capital Services Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Total Shares
2,09,00,000
Issue Size
₹255 Cr
Price Band
₹116 – ₹122
Lot Size
110 shares
Min. Investment
₹13,420
Max. Investment
₹1,87,880
Open Date
09 Mar, 2026
Close Date
11 Mar, 2026
Allotment
12 Mar, 2026
Listing
16 Mar, 2026
Max. Investment
₹1,87,880
Announced
09 Mar, 2026
Opening Date
09 Mar, 2026
Closing Date
11 Mar, 2026
Basis of Allotment
12 Mar, 2026
Initiation of Refunds
Yet to Announce
Credit of Shares
Yet to Announce
Listing Date
16 Mar, 2026
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About Rajputana Stainless IPO
Incorporated in 1991, Rajputana Stainless Limited is engaged in manufacturing long and flat stainless-steel products.
The company offers a range of stainless steel products, including billets, forging ingots, rolled black and bright bars, flat & patti, and other ancillary products, in over 80 diverse grades.
The company primarily sells its products domestically through direct sales and traders, while also exporting to five countries: UAE, USA, Turkey, Kuwait, and Poland.
Rajputana Stainless IPO Share Price
Issue Breakdown
Shareholding
Dilution: 21.3% increase in shares
Rajputana Stainless IPO Financial Health
Rajputana Stainless IPO Lot Size
Investors can bid for a minimum of 110 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹13,420 |
| Retail (Max) | 14 | 1540 | ₹1,87,880 |
| S-HNI (Min) | 15 | 1650 | ₹2,01,300 |
| S-HNI (Max) | 74 | 8140 | ₹9,93,080 |
| B-HNI (Min) | 75 | 8250 | ₹10,06,500 |
(All values in CR)
Rajputana Stainless IPO Valuations
| Metric | Value |
|---|---|
| ROE | 14.86 |
| ROCE | 16.55 |
| Debt/Equity | 0.49 |
| RoNW | 13.82 |
| PAT Margin | 4.87 |
| EBITDA Margin | 9.16 |
| Price to Book Value | - |
(All values in CR)
Rajputana Stainless IPO Strength & Risk
Strengths 👍
- Established manufacturer of stainless steel products with industry presence
- Mainboard IPO providing broader investor participation and liquidity
- Improving profitability and stable operating performance
- Healthy return ratios indicating operational efficiency
- Fresh issue proceeds planned for debt reduction and capacity expansion
- Expansion into new manufacturing facilities to support future growth
- Serves diverse industries such as automotive, engineering, and infrastructure
Risks ⚠️
- Revenue growth has been relatively moderate in recent years
- Exposure to volatility in raw material prices such as nickel and chromium
- Cyclical nature of the steel and metal industry
- Dependence on a limited number of key customers
- High working capital requirements typical of the steel sector
- Geographic concentration of manufacturing operations
- Competitive pressure from established domestic and global steel players
Rajputana Stainless IPO Subscriptions Status
Rajputana Stainless IPO subscribed 1.12 times. The public issue subscribed 0.27 times in the retail category, 2.51 times in QIB (Ex Anchor), and 2.59 times in the NII category by March 11, 2026 6:09:34 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| QIB (Ex Anchor) | 2.51 | 20,90,000 | 52,39,630 | 63.923 |
| NII | 2.59 | 56,43,000 | 1,46,40,340 | 178.612 |
| bNII (> ₹10L) | 3.74 | 37,62,000 | 1,40,63,059 | 171.569 |
| sNII (< ₹10L) | 0.31 | 18,81,000 | 5,77,280 | 7.043 |
| Retail | 0.27 | 1,31,67,000 | 35,39,580 | 43.183 |
| Total | 1.12 | 2,09,00,000 | 2,34,19,550 | 285.719 |
Rajputana Stainless IPO GMP
Rajputana Stainless IPO last GMP is ₹0, last updated Mar 11th 2026 05:34 PM. With the price band of 122.00, Rajputana Stainless IPO's estimated listing price is ₹122 (cap price + today's GMP).The expected percentage gain/loss per share is 0.00%.
Last updated 11 Mar, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 11 Mar, 2026 | 0 | ₹0▼ | - | ₹122 (0.00%) | - | 11 Mar, 2026 |
| 10 Mar, 2026 | 0 | ₹1▼ | 100/1500 | ₹123 (0.82%) | 110 | 10 Mar, 2026 |
| 09 Mar, 2026 | 122 | ₹2.5▲ | 200/3000 | ₹124.5 (2.05%) | 275 | 09 Mar, 2026 |
| 08 Mar, 2026 | 122 | ₹2 | 200/3000 | ₹124 (1.64%) | 220 | 08 Mar, 2026 |
| 07 Mar, 2026 | 122 | ₹2▲ | 200/3000 | ₹124 (1.64%) | 220 | 07 Mar, 2026 |
| 06 Mar, 2026 | 122 | ₹0 | - | ₹122 (0.00%) | - | 06 Mar, 2026 |
| 05 Mar, 2026 | 122 | ₹0 | - | ₹122 (0.00%) | - | 05 Mar, 2026 |
| 04 Mar, 2026 | 122 | ₹0 | - | ₹122 (0.00%) | - | 04 Mar, 2026 |
| 03 Mar, 2026 | 122 | ₹0 | - | ₹122 (0.00%) | - | 03 Mar, 2026 |
| 02 Mar, 2026 | 122 | ₹0 | - | ₹122 (0.00%) | - | 02 Mar, 2026 |
| 01 Mar, 2026 | 0 | ₹0 | - | ₹ (0.00%) | - | 01 Mar, 2026 |
| 28 Feb, 2026 | 0 | ₹0 | - | ₹ (%) | - | 28 Feb, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Rajputana Stainless IPO
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Find Rajputana Stainless IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Your funds will be blocked in your account until the IPO allotment process is completed.