Investors can bid for a minimum lot size of 110 shares, which translates to a minimum investment of Rs 13,420 at the upper price band.
The IPO comprises a fresh issue of 1.47 crore shares aggregating to Rs 178.73 crore and an offer for sale of 0.63 crore shares worth Rs 76.25 crore. For non-institutional investors, the investment thresholds are higher. Small NIIs (sNII) are required to apply for at least 15 lots (1,650 shares), amounting to Rs 2,01,300, while big NIIs (bNII) must apply for a minimum of 75 lots (8,250 shares), amounting to Rs 10,06,500 at the upper band.
The issue will close on March 11, 2026, with allotment expected on March 12, 2026. The shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange of India on March 16, 2026.
The issue is being managed by Nirbhay Capital Services Pvt. Ltd. as the book-running lead manager, and Kfin Technologies Limited is acting as the registrar.
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Rajputana Stainless IPO – Use of Proceeds
The company plans to utilise the proceeds primarily to strengthen and expand its operations. Around Rs 18.57 crore will be used to set up a new manufacturing facility for stainless steel seamless pipes, aimed at expanding its product portfolio. Additionally, Rs 98 crore will be allocated towards the repayment or prepayment of certain outstanding secured borrowings, with the remaining funds earmarked for general corporate purposes.
About the Company
Incorporated in 1991, Rajputana Stainless Limited is engaged in the manufacturing of long and flat stainless steel products. The company offers a wide range of products, including billets, forging ingots, rolled black and bright bars, flat and patti products, and other ancillary items across more than 80 grades. It primarily serves domestic customers through direct sales and traders, while also exporting to countries such as the UAE, USA, Turkey, Kuwait and Poland. Its products cater to industries including aerospace, oil and gas, defence, automotive, aviation, seamless pipes and precision engineering.
The company operates a manufacturing facility spread over 35,196.98 square metres in Kalol, Gujarat, equipped with infrastructure such as an induction furnace, AOD, CCM, heat treatment facilities, a rolling mill and a bright bar shop.
On the financial front, the company reported revenue of Rs 937.49 crore in FY25, marking a 2% increase from Rs 915.50 crore in FY24. Profit after tax rose by 26% to Rs 39.85 crore in FY25 compared to Rs 31.63 crore in the previous financial year.
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