Rajputana Stainless IPO Enters Final Day of Subscription: Key Details and Status

Rajputana Stainless IPO Update

Key Details:

• IPO Period: March 9 - March 11, 2026
• Price Band: ₹116-122 per share
• Fund Raising: ₹255 crore
• Issue Components:
  • Fresh Issue: 1.47 crore shares worth ₹178.73 crore
  • Offer for Sale (OFS): 0.63 crore shares by promoter Shankarlal Deepchand Mehta aggregating to ₹76.25 crore

Subscription Status:

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• Total Subscription: 0.46 times (as of 10:40 am on Day 3)
• Retail Portion: 0.14 times
• NII Portion: 1 time
• QIB Portion: 0.99 times
• Bids Received: 96.29 lakh shares against 2.09 crore shares on offer

Grey Market Premium:

• Current GMP: ₹1 (March 11)
• Expected Listing Price: ₹123 (a premium of 0.82% from IPO price of ₹122)

IPO Allotment and Listing:

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• IPO Allotment: Expected on March 12, 2026
• Share Delivery: Successful applicants will receive their shares on March 13, 2026
• Refunds: Non-allottees will receive refunds on March 13, 2026
• Listing Date: Tentative listing date on March 16, 2026

Company Overview:

• Rajputana Stainless is a leading manufacturer of long and flat stainless steel products
• Revenue Growth: Limited momentum in revenue growth over recent periods
• Valuation: Appears to be at a slight discount compared with peers, making pricing appear reasonable based on recent financial performance

Research Ratings:

• Swastika Investmart: Avoid
• Anand Rathi Share & Stock Brokers: Subscribe

IPO Details:

• Proceeds: Will be utilised to fund capital expenditure, repay outstanding borrowings, and general corporate purposes
• Lot Size: 110 shares, requiring a minimum retail investment of ₹13,420 at the upper end of the price band