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Rajputana Stainless

Rajputana Stainless

Open Date

Mar 9, 2026

Close Date

Mar 11, 2026

listed

Min Investment

₹13,420

Lot Size

110 Shares

Issue Size

₹254.98 Cr

Price Range

₹116 - ₹116

Listing Date

Mar 19, 2026

IPO Doc

RHP PDF

About Rajputana Stainless

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.

Checklist Quality Analysis

Revenue Growth

Company Valuation

Earning Expansion

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0GMP

Rajputana Stainless IPO - Issue Objectives

₹18.57cr to expand Panchmahal plant for stainless steel seamless pipes. The company will use ₹98 crore for repayment and/or pre-payment of certain outstanding borrowings. Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Capital expenditure

10.37%

Repayment of borrowings

54.75%

General corporate purposes

34.88%

1

Capital expenditure

₹18.57cr to expand Panchmahal plant for stainless steel seamless pipes.

10.37%
2

Repayment of borrowings

The company will use ₹98 crore for repayment and/or pre-payment of certain outstanding borrowings.

54.75%
3

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses

34.88%

IPO Subscription Status

Retails
0.26x
QIB
2.01x
NII
2.48x

Financials of Rajputana Stainless

In Cr.

Revenue: ₹502.77

EBITDA: ₹45.92

Profit: ₹24.41

Total Income
EBITDA
Total Profit
Negative Value
Key Performance Indicator30-Sep-25 (In Cr.)31-Mar-25 (In Cr.)31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)
Revenue502.77937.49915.50950.69
EBITDA45.9273.7959.4143.85
Expenses
Profit After Tax24.4139.8531.6324.04
Assets448.80420.36324.01297.34
Net Worth176.65151.95112.2781.17
Reserves108.1683.7578.3646.73
Borrowing85.9199.7579.7679.83

Rajputana Stainless - Promoter(s)

Shankarlal Deepchand Mehta

Babulal D Mehta

Jayesh Natvarlal Pithva

Yashkumar Shankarlal Mehta

Pre Issue Share Holding

78.22%

Post Issue Share Holding

57.01%

About Strength & Risks

Contact Details

Rajputana Stainless

213, Madhwas, Halol Kalol Road, Kalol, Panchmahal Halol, Gujarat, 389330

Registrar Contact Details

Rajputana Stainless IPO - FAQs

Rajputana Stainless IPO is a Mainboard IPO. The issue is priced at 116-₹122. The minimum order quantity is 110 Shares. The IPO opens on 9 Mar, and closes on 11 Mar. Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

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