Rajputana Stainless Ltd. IPO Details, Dates, Price Band, Financials & Review

Rajputana Stainless IPO is a book-built issue of ₹254.98 crore, comprising a fresh issue of ₹178.73 crore and an offer for sale of ₹76.25 crore. The IPO opens on March 9, 2026, and closes on March 11, 2026, with tentative listing on BSE and NSE on March 16, 2026.

The IPO price band is fixed at ₹116 to ₹122 per share, with a minimum retail investment of ₹13,420 (110 shares at upper price).

Let us understand the Rajputana Stainless IPO in detail.

Rajputana Stainless IPO – Key Details

The following are the important details about the IPO:

Rajputana Stainless IPO Timeline

The tentative IPO schedule is as follows:

Rajputana Stainless IPO Lot Size & Investment

Investors can bid for a minimum of 110 shares and in multiples thereof.

About Rajputana Stainless Ltd.

Incorporated in 1991, Rajputana Stainless Limited is engaged in manufacturing long and flat stainless-steel products.

The company offers over 80 diverse grades of stainless steel products, including:

• Billets
• Forging ingots
• Rolled black and bright bars
• Flat & patti
• Other ancillary products

The company primarily sells domestically through direct sales and traders and exports to UAE, USA, Turkey, Kuwait, and Poland.

Rajputana Stainless supplies raw materials to industries such as:

• Seamless pipes
• Aerospace
• Forging
• Oil and gas
• Defense
• Automotive
• Aviation
• Precision engineering

The company operates a 35,196.98 Sq.m manufacturing facility in Kalol, Gujarat, equipped with:

• Induction furnace
• AOD
• CCM
• Heat treatment facilities
• Rolling mill
• Bright bar shop

As of September 30, 2025, the company had 408 permanent employees and workers.

Product Portfolio

• Billets: Semi-finished stainless steel products used in forging, rolling, and ring rolling.
• Cast Ingots: Metal masses poured into molds for storage, transport, and further processing. Used in open die forgings and re-rolling.
• Hexagonal Bars: Stainless steel bars used in nuts, valves, fasteners, hose ends, and hex bolts manufacturing.

Competitive Strengths

• Established integrated manufacturing setup at strategic location
• Diverse product portfolio
• Established customer base
• Strong promoters and experienced management team
• Track record of healthy growth

Rajputana Stainless – Financial Performance (₹ Crore)

The following table shows the financial performance of Rajputana Stainless Steel.

Key Performance Indicators (KPI)

The following table highlights important valuation and profitability metrics:

Valuation Snapshot

The following table shows EPS and P/E comparison.

Objects of the Issue

The net proceeds from the fresh issue will be utilised towards:

IPO Reservation

• QIB: Not more than 50% of the Net Offer
• Retail: Not less than 35% of the Net Offer
• NII: Not more than 15% of the Net Offer

Lead Manager & Registrar

• Book Running Lead Manager: Nirbhay Capital Services Pvt. Ltd.
• Registrar: Kfin Technologies Ltd.

Promoters

The promoters of the company are:

• Shankarlal Deepchand Mehta
• Babulal D Mehta
• Jayesh Natvarlal Pithva
• Yashkumar Shankarlal Mehta

Summary

Rajputana Stainless Limited operates in the stainless-steel manufacturing segment with an integrated production facility and a diversified product portfolio across industrial applications. The IPO consists of a combination of fresh issue and offer for sale, with funds proposed for capital expenditure, debt repayment, and general corporate purposes.

The company has reported consistent operations across recent financial periods, with defined capacity and export presence in select international markets.

Disclaimer

This content is for informational and educational purposes only and does not constitute investment advice. Readers should conduct their own research before making investment decisions. The IPO is proposed to list on March 16, 2026, on BSE and NSE.

Frequently Asked Questions

What is the Rajputana Stainless IPO?

Rajputana Stainless IPO is a main-board IPO of 2,09,00,000 equity shares of face value ₹10, aggregating up to ₹255 crore, priced at ₹116 to ₹122 per share.

When does the Rajputana Stainless IPO open?

The IPO opens on March 9, 2026, and closes on March 11, 2026.

What is the lot size of Rajputana Stainless IPO?

The minimum lot size is 110 shares.

When is Rajputana Stainless IPO allotment?

The allotment is expected to be finalized on March 12, 2026.

When is Rajputana Stainless IPO listing date?

The tentative listing date is March 16, 2026, on BSE and NSE.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in research-based articles on financial products, markets, and investment opportunities, including unlisted shares. She holds a Master’s degree in Commerce from the University of Delhi, providing a strong academic foundation in finance and business.

With over three years of experience in digital content, she focuses on simplifying complex financial topics into clear, accurate, and reader-friendly information. Her background includes creating content related to finance certifications such as wealth management and NISM programs, strengthening her understanding of financial markets and investor education.