Rajputana Stainless
Mainboard₹13,420 / 110 Shares
IPO Live Subscription Details
| Category | Subscription (Times) |
|---|---|
| Date | 11 Mar 2026, 05:57 PM |
| QIBs | 2.51 times |
| NII | 2.59 times |
| Retail | 0.27 times |
| Total | 1.12 times |
Rajputana Stainless IPO Details
The Rajputana Stainless IPO price band is set between ₹116-122 per equity share, with a face value of ₹10 per share. The issue is managed by Kfin Technologies Ltd., and the equity shares are proposed to be listed on the Mainboard.
The IPO date for subscription opens on 9 Mar, 2026 and closes on 11 Mar, 2026. Investors can check the allotment status on 17 Mar, 2026, while the listing date is tentatively scheduled for 19 Mar, 2026.
The total issue size is 2,09,00,000 shares, aggregating up to ₹254.98 crore. Stay tuned for the latest Rajputana Stainless IPO review and GMP updates.
Rajputana Stainless IPO Review, Rating & Analysis
Rajputana Stainless IPO Review
IgnoreRajputana Stainless IPO Rating
Rajputana Stainless IPO Highlights
IPO Date
Mar 9, 2026–Mar 11, 2026
Listing Date
19 Mar, 2026
Face Value
₹10 Per Equity Share
Price Band
₹116-122 per equity share
Lot Size
110 Shares
Fresh Issue
Shares
Offer for Sale
-
Listing At
BSE, NSE
Rajputana Stainless IPO Lot Size
The minimum market lot for Rajputana Stainless IPO is 110 shares with an application amount of ₹13,420. Retail investors can apply for up to 14 lots. The table below details the minimum and maximum investment limits for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹13,420 |
| Retail (Max) | 14 | 1540 | ₹1,87,880 |
| S-HNI (Min) | 15 | 1650 | ₹2,01,300 |
| S-HNI (Max) | 74 | 8140 | ₹9,93,080 |
| B-HNI (Min) | 75 | 8250 | ₹10,06,500 |
Rajputana Stainless IPO Timeline
Issue Price
₹116-122 per equity shareFace Value
₹10 Per Equity ShareListing at Group
BSE, NSERegistrar
Kfin Technologies Ltd.Lead Manager
Nirbhay Capital Services Pvt.Ltd.Issue Size
2,09,00,000 shares(aggregating up to ₹254.98 crore)Rajputana Stainless IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 30-Sep-25 | 448.80 | 502.77 | 24.41 | 176.65 | 108.16 | 85.91 |
| 31-Mar-25 | 420.36 | 937.49 | 39.85 | 151.95 | 83.75 | 99.75 |
| 31-Mar-24 | 324.01 | 915.50 | 31.63 | 112.27 | 78.36 | 79.76 |
| 31-Mar-23 | 297.34 | 950.69 | 24.04 | 81.17 | 46.73 | 79.83 |
In Cr.
Rajputana Stainless IPO Reservation Details
| Investor Category | Shares Offered | % Shares |
|---|---|---|
| QIB Shares Offered | 2090000 | 10% |
| NII (HNI) Shares Offered | 5643000 | 27% |
| bNII > ₹10L | 3762000 | 18% |
| sNII < ₹10L | 1881000 | 9% |
| Retail Shares Offered | 13167000 | 63% |
| Total Shares Offered | 20900000 | 100% |
Rajputana Stainless IPO Valuations
EPS Pre IPO
₹5.78/-EPS Post IPO
₹5.84/-PE Pre IPO
21.1PE Post IPO
20.88ROE
30.17%ROCE
31.72%Debt Equity
0.66RoNW
26.23%PAT Margin
4.28%Price to Book Value
5.53Rajputana Stainless Peer Comparison
| Company Name | Revenue | RoNW | PE Ratio | PB Ratio |
|---|---|---|---|---|
| Rajputana Stainless | 932 | 26.23% | N/A | N/A |
| Mangalam Worldwide | 1060 | 11.28% | 22.57 | N/A |
| Mukand | 4889 | 7.99% | 26.34 | N/A |
| Electrotherm | 4115 | -278% | 3.16 | N/A |
| Panchmahal Steel | 383 | 2.07% | 182.1 | N/A |
Promoters & Share Holding
Promoter(s) Name
- Shankarlal Deepchand Mehta
- Babulal D Mehta
- Jayesh Natvarlal Pithva
- Yashkumar Shankarlal Mehta
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 78.22% | 57.01% |
About Company
Incorporated in 1991, Rajputana Stainless Limited is engaged in manufacturing long and flat stainless-steel products.
The company offers a range of stainless steel products, including billets, forging ingots, rolled black and bright bars, flat & patti, and other ancillary products, in over 80 diverse grades.The company primarily sells its products domestically through direct sales and traders, while also exporting to five countries: UAE, USA, Turkey, Kuwait, and Poland.The company uses its expertise and infrastructure to supply raw materials for various industries, including seamless pipes, aerospace, forging, oil and gas, defense, automotive, aviation, and precision engineering.
The company operates a manufacturing facility of 35,196.98 Sq.m in Kalol, Gujarat, equipped with an induction furnace, AOD, CCM, heat treatment facilities, rolling mill, and bright bar shop for efficient production.
Product Portfolio:
Billet: The company produces stainless steel billets, semi-finished products made from liquid steel, used as optimal inputs for hot working processes such as forging, rolling, and ring rolling.
Cast ingots: The company produces cast ingots, metal masses poured into molds for easy storage, transportation, and further processing. These ingots are free from defects, marked for traceability, and used in open die forgings, re-rolling, and ring rolling.
Hexagon al Bars: The company produces hexagonal bars, stainless steel rolled into hexagonal shapes, used in manufacturing nuts, valves, hose ends, fasteners, and hex bolts.
As of September 30, 2025, the company had 408 permanent employees and workers comprising skilled and unskilled workers.
Rajputana Stainless IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 20,90,000 | 56,43,000
37,62,000
18,81,000
| 1,31,67,000 | 2,09,00,000 |
Day 109-03-26 05:00 PM | 0.99 x | 0.65
x
0.95 x
0.05 x
| 0.04 x | 0.30 x |
Day 210-03-26 05:00 PM | 0.99 x | 0.94
x
1.36 x
0.11 x
| 0.11 x | 0.42 x |
Day 311-03-26 05:00 PM | 2.51 x | 2.59
x
3.74 x
0.31 x
| 0.27 x | 1.12 x |
Day 413-03-26 05:00 PM | 2.51 x | 2.59
x
3.74 x
0.31 x
| 0.27 x | 1.12 x |
Retail:0.19x
BHNI:0.47x
SHNI:0.25x
Rajputana Stainless IPO - Issue Objectives & Utilisation of proceeds
| Objectives | Amount |
|---|---|
| Funding capital expenditure requirements for setting up of manufacturing facility for Stainless Steel Seamless Pipes to expand the product portfolio (Proposed Facility) - ₹18.57 Crores | - |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company - ₹98.00 Crores | - |
| General corporate purposes | - |
Company Contact Details
Rajputana Stainless
213, Madhwas, Halol Kalol Road, Kalol, Panchmahal Halol, Gujarat, 389330Phone: +91 63 5816 4770
Email: compliance@rajputanastainless.com
Website: https://www.rajputanastainless.com/
Registrar Contact Details
Kfin Technologies Limited
Frequently Asked Questions about Rajputana Stainless IPO
When will Rajputana Stainless IPO open for subscription?
The Rajputana Stainless IPO opens on 9 Mar, 2026 and closes on 11 Mar, 2026.
What is the investors portion for Rajputana Stainless IPO?
The investors' portion for QIB is 2.51 x, NII is 3.74 x, and Retail is 0.27 x.
How to apply for Rajputana Stainless IPO?
You can apply for Rajputana Stainless IPO via ASBA online through your bank account. You can also apply via UPI through stock brokers like Zerodha, Upstox, or Paytm Money.
What is the issue size of Rajputana Stainless IPO?
The issue size of Rajputana Stainless IPO is approx ₹2,09,00,000 shares(aggregating up to ₹254.98 crore) crores.
What is the price band of Rajputana Stainless IPO?
The price band for Rajputana Stainless IPO is ₹116 to ₹122 per equity share.
What is the lot size of Rajputana Stainless IPO?
The minimum bid (lot size) for Rajputana Stainless IPO is 110 shares with an investment of approx ₹13,420 .
What is the allotment date of Rajputana Stainless IPO?
The allotment date for Rajputana Stainless IPO is 17 Mar, 2026.
What is the listing date of Rajputana Stainless IPO?
The listing date for Rajputana Stainless IPO is expected to be 19 Mar, 2026.
What is the GMP of Rajputana Stainless IPO?
The latest Grey Market Premium (GMP) for Rajputana Stainless IPO is being updated regularly on IPOROCK.
Parth D.
Founder & Lead Analyst
Parth D. is a software engineer and financial analyst who brings a quantitative edge to IPO tracking. With deep expertise in algorithmic trading and financial tool development, he builds the technology that powers IPORock's real-time data engines. He has been tracking the Indian market since 2018.