Rajputana Stainless IPO Opens Today: Price Band Set at ₹116–₹122, Issue Size ₹254.98 Crore
The initial public offering (IPO) of Rajputana Stainless Ltd., a manufacturer of long and flat stainless steel products under the RSL brand, opens for subscription on Monday, March 9, 2026. The public issue will remain open for bidding until March 11, 2026.Ahead of the IPO launch, the Gujarat-based company secured ₹10 crore from an anchor investor, indicating early institutional interest in the issue.
Rajputana Stainless IPO Anchor Investment
Before the IPO opened, Shine Star Build Cap participated as the anchor investor in the issue.Rajputana Stainless allocated 8.19 lakh equity shares at ₹122 per share, raising ₹10 crore through the anchor placement.
Rajputana Stainless IPO Price Band and Lot Size
The company has fixed the price band at ₹116 to ₹122 per equity share.Investors can place bids for a minimum lot of 110 shares, and thereafter in multiples of 110 shares.
Rajputana Stainless IPO Grey Market Premium
In the unlisted market, the shares of Rajputana Stainless are currently trading at a grey market premium (GMP) of around ₹2.Based on the upper price band of ₹122, this suggests a potential listing gain of about 2 percent.
However, grey market premiums only reflect informal market sentiment and can change quickly.
Rajputana Stainless IPO Size and Structure
At the upper end of the price band, the company plans to raise ₹254.98 crore through the IPO.The issue consists of:
- Fresh issue: ₹179 crore
- Offer for Sale (OFS): ₹76 crore by promoter Shankarlal Deepchand Mehta
Shareholding and Post Listing Valuation
Promoters, including Shankarlal Deepchand Mehta, currently hold 78.21 percent stake in Rajputana Stainless, while 21.79 percent is held by public shareholders.At the upper price band, the company is expected to have a post listing market capitalization of ₹1,019.53 crore.
IPO Reservation for Investors
The IPO allocation structure is divided across investor categories:- Qualified Institutional Buyers (QIBs): 50 percent
- Non Institutional Investors (NIIs): 15 percent
- Retail Investors: 35 percent
Use of IPO Proceeds
Rajputana Stainless plans to utilize the proceeds from the fresh issue component for several strategic purposes, including:- Setting up a manufacturing facility for stainless steel seamless pipes to expand its product portfolio
- Repayment of debt
- General corporate purposes
About Rajputana Stainless Ltd.
Rajputana Stainless manufactures a wide range of stainless steel products, including:- Billets
- Forging ingots
- Rolled black bars
- Rolled bright bars
- Flats
- Patti
- Other ancillary stainless steel products
IPO Timeline and Key Intermediaries
- IPO Opening Date: March 9, 2026
- IPO Closing Date: March 11, 2026
- Allotment Finalization: March 12, 2026
- Tentative Listing Date: March 16, 2026
The shares of Rajputana Stainless will be listed on BSE and NSE.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
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