Rajputana Stainless IPO opens March 9: Check price band, size, key dates

Rajputana Stainless IPO will open for public bidding on Monday, March 9 and close on Wednesday, March 11, 2026

Rajputana Stainless IPO: Rajputana Stainless, a stainless steel maker, has set the price band for its initial public offering in the range of ₹116 to ₹122 per share. The company aims to raise ₹254.98 crore through a combination of fresh issue of 14.7 million shares worth up to ₹178.73 crore and an offer for sale (OFS) of 6.3 million shares worth up to ₹76.25 crore. 

 

Under the OFS, Shankarlal Deepchand Mehta is the only promoter selling shareholder. 

 

Rajputana Stainless is engaged in the manufacturing of long and flat stainless-steel products comprising billets, forging ingots, rolled black bar, rolled bright bar, flat & patti and other ancillary products under the brand name of “RSL”. It caters to various industries, including seamless pipes, aerospace, forging, oil & gas, defence, automotive, aviation, and precision engineering. 

 

Here are the key details of Rajputana Stainless IPO:

Rajputana Stainless IPO key dates

According to the RHP, the Rajputana IPO will open for public bidding on Monday, March 9 and close on Wednesday, March 11, 2026. The anchor investment period will be one day prior to the issue opening date, i.e. Friday, March 6, 2026. The basis of allotment of shares is expected to be finalised on Thursday, March 12. Shares of Rajputana Stainless will make their debut on the National Stock Exchange (NSE) and BSE, tentatively on Monday, March 16.

Rajputana Stainless IPO lot size

Investors can bid for a minimum of one lot comprising 110 shares. Accordingly, a retail investor would require a minimum investment amount of 13,420 to bid for at least one lot at the upper-end price and in multiples thereof. The company has reserved 50 per cent of the net offer for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail individual investors.

Rajputana Stainless IPO registrar, lead managers

Kfin Technologies is the registrar for the issue. Nirbhay Capital Services is the sole book-running lead manager.

Rajputana Stainless IPO objective

According to the RHP, the company plans to use ₹18.57 crore from the net fresh issue proceeds for the expansion of the existing manufacturing facility at Panchmahal district, Gujarat, through forward integration and diversification of product portfolio. Additionally, ₹98 crore will be used for repayment or prepayment of certain borrowings availed by the company. The remaining funds will be used for general corporate purposes. 

Rajputana Stainless financial overview

In the six-month period ended September, 2025, the company reported revenue from operations of ₹501.52 crore and profit after tax (PAT) of ₹24.40 crore. In FY25, it reported revenue from operations of ₹932.15 crore, up 2.4 per cent from ₹909.80 crore in the previous fiscal. Its earnings before interest, tax, depreciation and amortisation (Ebitda) rose 24.2 per cent to ₹73.78 crore compared to ₹59.40 crore in FY24. PAT came in at ₹39.85 crore, a 26 per cent jump from ₹31.62 crore in the previous fiscal.