Rajputana Stainless IPO is a book build issue of 2,09,00,000 shares [₹256.98 crore]. The issue is a combination of a fresh issue of 1,46,50,000 shares [₹178.73 crore] and an offer for sale of 62,50,000 shares [₹76.25 crore].
The Rajputana Stainless IPO will open on March 09, 2026, and close on March 11, 2026. The price band for the IPO is fixed at ₹116 to ₹122 per share. The minimum application size is 1 lot [110 shares], requiring a retail investor to invest at least ₹13,420 [based on the upper price band].
Rajputana Stainless IPO Details
| Open Date | March 09, 2026 |
| Close Date | March 11, 2026 |
| Issue Type | Book Building Issue |
| Face Value | ₹10 Equity Share |
| Price Band | ₹116 – ₹122 Per Share |
| Listing On | BSE, NSE |
| Issue Size | ₹256.98 Cr. [2,09,00,000 Shares] |
| Fresh Issue | ₹178.73 Cr. [1,46,50,000 Shares] |
| Offer For Sale | ₹76.25 Cr. [62,50,000 Shares] |
| Prospectus | DRHP | RHP | Anchor Investors |
Rajputana Stainless IPO Reservation
A total of 2,09,00,000 shares are on offer in the Rajputana Stainless IPO, of which 1,04,50,000 shares have been allotted to QIBs, 31,35,000 shares to NIIs, and 73,15,000 shares to RIIs.
| Category | Reservation | Shares Offered |
|---|---|---|
| QIB | 50.00% | 1,04,50,000 |
| NII | 15.00% | 31,35,000 |
| RII | 35.00% | 73,15,000 |
| Total | 100.00% | 2,09,00,000 |
Rajputana Stainless IPO Market Lot
Retail investors can apply for the Rajputana Stainless IPO with a minimum of 1 lot of 110 shares for an application amount of ₹13,420 and a maximum of 14 lots of 1,540 shares for an amount of ₹1,87,880.
| Application | Lot | Shares | Amount |
| Retail Minimum | 1 | 110 | ₹13,420 |
| Retail Maximum | 14 | 1,540 | ₹1,87,880 |
| S-HNI Minimum | 15 | 1,650 | ₹2,01,300 |
| S-HNI Maximum | 74 | 8,140 | ₹9,93,080 |
| B- HNI Minimum | 75 | 8,250 | ₹10,06,500 |
Key Performance Indicator
| KPI [March 31, 2025] | Value |
| Market Capitalisation | ₹1,019.53 Cr. |
| P/E Ratio | 21.10x |
| EPS | ₹5.78 |
| ROE | 30.17% |
| ROCE | 31.72% |
| RoNW | 26.23% |
| Dept/Equity | 0.66 |
| EBITDA Margin | 7.92% |
| PAT Margin | 4.28% |
| Net Assets Value | ₹22.05 |
| Price To Book Value | ₹5.53 |
Rajputana Stainless IPO Peer Comparison
| Company | P/E | EPS | RoNW | NAV |
| Mangalam Worldwide | 22.57x | ₹10.59 | 11.28% | ₹91.37 |
| Mukand | 26.34x | ₹5.24 | 7.99% | ₹65.72 |
| Electrotherm | 3.16x | ₹347.06 | 278.47% | ₹-124.60 |
| Panchmahal Steel | 182.18x | ₹1.74 | 2.07% | ₹84.02 |
Rajputana Stainless IPO Dates
Rajputana Stainless IPO open for subscription March 09, 2026, and close date on March 11, 2025. The allotment will be finalized on March 12, 2026, and the IPO listing on March 16, 2026.
| Open Date | March 09, 2026 |
| Close Date | March 11, 2026 |
| Allotment Date | March 12, 2026 |
| Refund Date | March 13, 2026 |
| Share Credit Date | March 13, 2026 |
| Listing Date | March 16, 2026 |
Rajputana Stainless Company Financial Report
| Period Ended | Total Assets | Total Income | Total Expenses | Net Worth | Profit After Tax | EBITDA | Reserves And Surplus | Total Borrow |
|---|---|---|---|---|---|---|---|---|
| March 2025 | ₹420.36 Cr. | ₹937.49 Cr. | ₹882.85 Cr. | ₹151.95 Cr. | ₹39.85 Cr. | ₹73.79 Cr. | ₹83.75 Cr. | ₹99.75 Cr. |
| March 2024 | ₹324.01 Cr. | ₹915.50 Cr. | ₹873.18 Cr. | ₹112.27 Cr. | ₹31.63 Cr. | ₹59.41 Cr. | ₹78.36 Cr. | ₹79.76 Cr. |
| March 2023 | ₹297.34 Cr. | ₹950.69 Cr. | ₹922.11 Cr. | ₹81.17 Cr. | ₹24.04 Cr. | ₹43.85 Cr. | ₹46.73 Cr. | ₹79.83 Cr. |
Company Promoters
- Shankarlal Deepchand Mehta
- Babulal D Mehta
- Jayesh Natvarlal Pithva
- Yashkumar Shankarlal Mehta
| Holding Pre Issue | 78.22% |
| Holding Post Issue | 57.01% |
Rajputana Stainless IPO Lead Managers
- Nirbhay Capital Services Private Limited
Rajputana Stainless IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: rsl.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Note: Check Rajputana Stainless IPO Allotment Status Visit IPO Investors Allotment Page And Search Your Registrar IPO Allotment Status Link. Click Here…
About Rajputana Stainless Limited
Incorporated in 1991, Rajputana Stainless Limited has built a strong presence in India’s stainless-steel manufacturing sector, focusing on the production of long and flat stainless-steel products. With over three decades of industry experience, the company has developed technical expertise and operational capabilities that enable it to serve a wide range of industrial applications with consistent quality and reliability.
The company manufactures an extensive portfolio of stainless-steel products across more than 80 different grades. Its offerings include billets, forging ingots, rolled black and bright bars, flats and pattis, along with other ancillary products. This diversified product range allows the company to cater to multiple end-use industries such as seamless pipes, aerospace, oil and gas, defense, automotive, aviation, forging, and precision engineering. The breadth of its applications highlights the company’s ability to meet stringent quality and performance standards required by critical industries.
Rajputana Stainless Limited primarily serves the domestic market through direct sales channels and trader networks. At the same time, it has established an international footprint by exporting its products to countries including the UAE, USA, Turkey, Kuwait, and Poland. This combination of domestic strength and global outreach reflects the company’s competitive positioning and product acceptance in overseas markets.
The company operates an integrated manufacturing facility spread across approximately 35,196.98 square meters in Kalol, Gujarat. The plant is equipped with advanced infrastructure, including an induction furnace, Argon Oxygen Decarburization (AOD) unit, Continuous Casting Machine (CCM), heat treatment facilities, a rolling mill, and a bright bar shop. This integrated setup ensures better control over the production process, improved cost efficiency, and consistent product quality.
Within its product portfolio, stainless-steel billets serve as semi-finished inputs for hot working processes such as forging and rolling. Cast ingots are produced through controlled molding processes to ensure defect-free output and traceability, making them suitable for open-die forgings and re-rolling applications. Additionally, hexagonal bars manufactured by the company are widely used in the production of nuts, valves, hose ends, fasteners, and hex bolts, further strengthening its presence across industrial value chains.
As of September 30, 2025, the company employed 408 permanent staff members, including both skilled and unskilled workers. Its key competitive strengths lie in its established and strategically located integrated manufacturing setup, diversified product portfolio, long-standing customer relationships, experienced management team, and a consistent track record of healthy growth. Collectively, these factors position Rajputana Stainless Limited as a stable and growth-oriented player in the stainless-steel industry.
Objects Of The Issue
- Funding capital expenditure requirements for setting up of manufacturing facility for Stainless Steel Seamless Pipes to expand the product portfolio (“Proposed Facility”); (₹18.57.Cr.)
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company; (₹98.00 Cr.)
- General corporate purposes
Company Address
Rajputana Stainless Limited
213, Madhwas,
Halol Kalol Road, Kalol,
Panchmahal
Halol, Gujarat, 389330
Phone: +91 63 5816 4770
Email: compliance@rajputanastainless.com
Website: https://www.rajputanastainless.com/
Rajputana Stainless IPO FAQs
What is Rajputana Stainless IPO?
Rajputana Stainless IPO is a MainBoard IPO of 2,09,00,000 equity shares of the face value of ₹10 aggregating up to ₹254.98 Crores. The IPO issue priced at ₹116 to ₹122 per share.
What are the open and close dates of the Rajputana Stainless IPO?
The IPO will open on March 09, 2026 and will close on March 11, 2026.
What is the price band for Rajputana Stainless IPO?
The price band for the IPO is fixed at ₹116 to ₹122 per share.
What is the issue size of the Rajputana Stainless IPO?
The total issue size of the IPO is ₹154.98 Cr., comprising both fresh issue and offer for sale (if applicable).
What is Rajputana Stainless IPO Minimum and Maximum Lot Size?
The minimum bid is 1 Lot, 110 Shares with ₹13,430 amount while the maximum bid is 14 Lot, 1,540 shares with ₹1,87,880 for the IPO.
What is Rajputana Stainless IPO Investors Portion?
The investors’ portion for QIB 50%, NII 15%, RII 35% for the IPO.
When will the basis of allotment for the Rajputana Stainless IPO be finalized?
The the IPO allotment is expected to be finalized on March 12, 2026.
When will the shares of Rajputana Stainless IPO get listed?
The IPO shares are expected to be listed on the BSE and NSE on March 16, 2026.
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| Rajputana Stainless IPO GMP |
| Rajputana Stainless IPO Subscription |
| Rajputana Stainless IPO Allotment |
This content has been researched and written by the IPO Investors Team…
Disclaimer: Readers are strongly advised to seek guidance from a qualified financial advisor before making any investment decisions. Relying solely on the content presented here for financial choices is done entirely at the reader’s own risk.
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