Rajputana Stainless IPO to open on March 9, price band set at Rs 116-122; check details
Gujarat-based Rajputana Stainless has fixed the price band for its upcoming initial public offering (IPO) at Rs 116 to Rs 122 per share.
- Mar 2, 2026,
- Updated Mar 2, 2026 2:19 PM IST
Gujarat-based Rajputana Stainless has fixed the price band for its upcoming initial public offering (IPO) at Rs 116 to Rs 122 per share. The subscription window for the IPO will run from March 9 to March 11, with anchor investors participating on March 06. Investors can apply in lots of 110 shares, with subsequent bids in multiples of 110 shares.
The public issue aims to raise Rs 254.98 crore, comprising a fresh issue of shares valued at Rs 179 crore and an offer for sale (OFS) of Rs 76 crore by promoter Shankarlal Deepchand Mehta. At the higher end of the price band, Rajputana Stainless is expected to command a post-listing market capitalisation of Rs 1,019.53 crore.
Nirbhay Capital Services acts as the book running lead manager, while Kfin Technologies serves as the registrar for the issue. Allotment is scheduled for 12 March, and listing is tentatively set for 16 March on both BSE and NSE.
Of the total IPO issue, 50 per cent is earmarked for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NII), and 3 per cent% for retail individual investors (RII). The current shareholding structure stands at 78.21 per cent with promoters and 21.79 per cent with public shareholders.
Proceeds from the net fresh issue will support the establishment of a manufacturing facility for stainless steel seamless pipes, expanding the company’s product offerings. Additional funds will be allocated towards debt repayment, with any balance directed to general corporate purposes.
Rajputana Stainless specialises in manufacturing both long and flat stainless-steel products, including billets, forging ingots, rolled black bar, rolled bright bar, flat and patti, and other ancillary products. Stainless steel is noted for its value-added properties, particularly its resistance to corrosion.
Gujarat-based Rajputana Stainless has fixed the price band for its upcoming initial public offering (IPO) at Rs 116 to Rs 122 per share. The subscription window for the IPO will run from March 9 to March 11, with anchor investors participating on March 06. Investors can apply in lots of 110 shares, with subsequent bids in multiples of 110 shares.
The public issue aims to raise Rs 254.98 crore, comprising a fresh issue of shares valued at Rs 179 crore and an offer for sale (OFS) of Rs 76 crore by promoter Shankarlal Deepchand Mehta. At the higher end of the price band, Rajputana Stainless is expected to command a post-listing market capitalisation of Rs 1,019.53 crore.
Nirbhay Capital Services acts as the book running lead manager, while Kfin Technologies serves as the registrar for the issue. Allotment is scheduled for 12 March, and listing is tentatively set for 16 March on both BSE and NSE.
Of the total IPO issue, 50 per cent is earmarked for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NII), and 3 per cent% for retail individual investors (RII). The current shareholding structure stands at 78.21 per cent with promoters and 21.79 per cent with public shareholders.
Proceeds from the net fresh issue will support the establishment of a manufacturing facility for stainless steel seamless pipes, expanding the company’s product offerings. Additional funds will be allocated towards debt repayment, with any balance directed to general corporate purposes.
Rajputana Stainless specialises in manufacturing both long and flat stainless-steel products, including billets, forging ingots, rolled black bar, rolled bright bar, flat and patti, and other ancillary products. Stainless steel is noted for its value-added properties, particularly its resistance to corrosion.