Rajputana Stainless IPO Details
Rajputana Stainless IPO Summary
Rajputana Stainless IPO opens for subscription on 09 Mar 2026 and closes on 11 Mar 2026.The IPO will be listed on NSE, BSE with the tentative listing date set for 19 Mar 2026.
Rajputana Stainless IPO price band has been fixed at ₹116 – ₹122 per share. The face value is ₹10 per share with a lot size of 110.
Rajputana Stainless IPO total issue size comprises 2,09,00,000 shares (aggregating up to ₹254.98 Cr). This includes a fresh issue of 1,46,50,000 shares (aggregating up to ₹178.73 Cr). Offer for Sale consists of 62,50,000 shares (aggregating up to ₹76.25 Cr). Pre-issue shareholding stands at 6,89,17,658, which will increase to 8,35,67,658 post-issue.
Rajputana Stainless IPO carries a ₹3 (2.46%) GMP, reflecting investor sentiment.
Rajputana Stainless IPO Lot Size :Retail Minimum is 1 lot (110 shares) amounting to ₹13,420. Retail Maximum is 14 lots (1,540 shares) amounting to ₹187,880. SHNI Minimum is 15 lots (1,650 shares) amounting to ₹201,300. SHNI Maximum is 74 lots (8,140 shares) amounting to ₹993,080. BHNI Minimum is 75 lots (8,250 shares) amounting to ₹1,006,500.
Rajputana Stainless IPO Details
Rajputana Stainless IPO Subscription
Rajputana Stainless IPO Application Wise Breakup (Approx)
Rajputana Stainless IPO Dates
- 09 Mar 2026Opening dateOpen
- 11 Mar 2026Closing dateClose
- 17 Mar 2026Allotment Date Allotment
- 18 Mar 2026Initiation of RefundsRefund
- 18 Mar 2026Credit of SharesCredit
- 19 Mar 2026Listing dateListing
Rajputana Stainless IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 110 | ₹13,420 |
| Retail Maximum | 14 | 1540 | ₹187,880 |
| SHNI Minimum | 15 | 1650 | ₹201,300 |
| SHNI Maximum | 74 | 8140 | ₹993,080 |
| BHNI Minimum | 75 | 8250 | ₹1,006,500 |
Rajputana Stainless IPO Reservation
Promoter Holding
Documents
Rajputana Stainless IPO Valuations
Rajputana Stainless Financial Information
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 448.80 | 420.36 | 324.01 | 297.34 |
| Total Income | 502.77 | 937.49 | 915.50 | 950.69 |
| Profit After Tax | 24.41 | 39.85 | 31.63 | 24.04 |
| EBITDA | 45.92 | 73.79 | 59.41 | 43.85 |
| NET Worth | 176.65 | 151.95 | 112.27 | 81.17 |
| Reserves and Surplus | 108.16 | 83.75 | 78.36 | 46.73 |
| Total Borrowing | 85.91 | 99.75 | 79.76 | 79.83 |
| Amount in ₹ Crore | ||||
About Rajputana Stainless IPO
Incorporated in 1991, Rajputana Stainless Limited is engaged in the manufacturing of long and flat stainless steel products, catering to a wide range of industrial applications.
The company offers a diversified portfolio of stainless steel products, including billets, forging ingots, rolled black and bright bars, flat products (flats and pattis), and other ancillary products across more than 80 grades of stainless steel.
Rajputana Stainless Limited primarily markets its products within India through direct sales channels and traders, while also exporting to international markets including the United Arab Emirates, United States of America, Turkey, Kuwait, and Poland.
Leveraging its manufacturing capabilities and metallurgical expertise, the company supplies raw materials to multiple industries such as seamless pipes, aerospace, forging, oil and gas, defence, automotive, aviation, and precision engineering.
The company operates a manufacturing facility located at Kalol, Gujarat, spanning approximately 35,196.98 square meters. The facility is equipped with advanced infrastructure including induction furnaces, argon oxygen decarburization (AOD) units, continuous casting machines (CCM), heat treatment facilities, rolling mills, and a bright bar shop, enabling efficient and integrated production.
Product Portfolio
- Billets: Semi-finished stainless steel products produced from liquid steel, serving as primary inputs for hot working processes such as forging, rolling, and ring rolling.
- Cast Ingots: Stainless steel masses cast into molds for ease of storage, transportation, and further processing. These ingots are traceable and used in open-die forging, re-rolling, and ring rolling applications.
- Hexagonal Bars: Stainless steel bars rolled into hexagonal shapes, commonly used in the manufacturing of nuts, valves, hose ends, fasteners, and hex bolts.
As of September 30, 2025, the company employed 408 permanent personnel, including both skilled and unskilled workers.
Strength Of Rajputana Stainless IPO
Risk Of Rajputana Stainless IPO
- The company derives a significant portion of the company's revenue from operations from its top 10 customers, and the company does not have long-term contracts with all these customers. If one or more such customers choose not to source their requirements from the company or to terminate its contracts or purchase orders, the company's business, cash flows, financial condition and results of operations may be adversely affected.
- The Company, Promoters, Directors, KMPs and SMPs are parties to certain legal proceedings. Litigations involving the Company aggregate amounting to Rs.12,861.77 Lakhs which is 72.81% of the company's net worth Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
- The company's Manufacturing Facility and Proposed Facility is located in Gujarat and therefore its operation is highly vulnerable to regional conditions and economic downturns in the region.
- The company relies substantially on the company's top 10 suppliers of the raw materials and work-in-progress goods used in the company's manufacturing processes. Any shortages, delay or disruption may have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- The company derives the majority of sales from the domestic market and a significant portion of the company's domestic sales are derived from the states of Maharashtra, Gujarat & Uttar Pradesh. Any adverse developments in this market could adversely affect its business.
- The company has contingent liabilities amounting to Rs.12,082.46 Lakhs which is 68.40% of the company's net worth and the company's financial condition could be adversely affected if any of these contingent liabilities materializes.
- The Offer Price of the company's Equity Shares and price-to-earnings(P/E), may not reflect the trading price of the company's Equity Shares upon listing on the Stock Exchanges subsequent to the Offer and, as a result, you may lose a significant part or all of your investment.
- The company's Equity Shares have, in the past, been allotted and transferred at prices lower than earlier valuations, which may impact investor perception regarding its equity capital history.
- The company has in the past, issued Equity Shares at significantly lower prices compared to earlier issue prices, which may raise concerns about historical valuation practices and affect investor perception.
- Changes in market demand for the company's existing stainless-steel products, as well as downturns in end-use industries, may adversely affect its business, results of operations, and financial condition.
Objectives Rajputana Stainless IPO
1. Funding capital expenditure requirements for setting up of manufacturing facility for Stainless Steel Seamless Pipes to expand the product portfolio (“Proposed Facility”);
2. Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company; and
3. General corporate purposes
4. Total
Company Contact Details
Rajputana Stainless Limited
213, Madhwas,
Halol Kalol Road, Kalol,
Panchmahal, 389 330
Phone: +91 63 5816 4770
Email: compliance@rajputanastainless.com
Website: http://www.rajputanastainless.com/
Registrar Contact Details
Rajputana Stainless FAQs
The Rajputana Stainless IPO is a MAINBOARD public issue comprising 20900000 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹254.98 Cr. The issue price has been fixed at ₹122 per equity share, and the minimum application size is 110 shares.
The IPO opens for subscription on 09 Mar 2026, and closes on 11 Mar 2026.
Kfin Technologies Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
As of now, the current GMP stands at ₹3 (2.46%).
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