Rajputana Stainless IPO Details

IPO Price Band: ₹116 to ₹122 per equity share of face value ₹10 IPO Subscription Dates: March 9 - March 11 Anchor Investor Allocation: March 6

IPO Allocation

• Qualified Institutional Buyers (QIB): Not more than 50% of shares
• Non-Institutional Investors (NII): Not less than 15% of shares
• Retail Investors: Not less than 35% of the offer

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IPO Details

• Issue Size: ₹254.98 crore
• New Issue: ₹179 crore
• Offer for Sale (OFS): ₹76 crore from promoter Shankarlal Deepchand Mehta
• Objectives:
  • Establish a manufacturing facility for stainless steel seamless pipes
  • Repay debt
  • General corporate expenses

Company Background

Company Name: Rajputana Stainless Limited Industry: Production of long and flat stainless steel items Product Range: Billets, forging ingots, rolled black and bright bars, flat bars, and other associated items across 80 different grades Market Presence: Domestic market through direct sales and traders, and exports to UAE, USA, Turkey, Kuwait, and Poland

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Peer Comparison

• Mangalam Worldwide Ltd: P/E ratio 22.57
• Mukand Ltd: P/E ratio 26.34
• Electrotherm Ltd: P/E ratio 3.16
• Panchmahal Steel Ltd: P/E ratio 182.18

Listing Details

• Listing Date: March 16 (BSE and NSE)
• Allotment Basis: Finalized on March 12
• Refund Initiation: March 13
• Share Crediting: March 13