Rajputana Steel IPO Listing: Market Indicators Suggest Impending Trends

Rajputana Steel IPO Makes Stock Market Debut

Rajputana Steel will list its shares on both the BSE and NSE on Friday, March 20, following the closure of its initial public offering (IPO).

IPO Details

The Rajputana Steel IPO was subscribed 1.12 times during the bidding period, garnering bids worth ₹285.72 crore from nearly 23,000 applications. The Retail Individual Investors (RIIs) segment saw a 27% subscription, while the Non-Institutional Investors (NII) category was subscribed 2.59 times. Meanwhile, the Qualified Institutional Buyers (QIBs) portion received 2.51 times subscription.

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IPO Subscription

• RIIs: 27% subscription
• NII: 2.59 times subscription
• QIBs: 2.51 times subscription
• Total Subscription: 1.12 times

IPO Proceeds

The company raised ₹254.98 crore through the book-built issue, comprising a fresh issue of 1.47 crore equity shares worth ₹178.73 crore and an offer-for-sale (OFS) of 62.50 lakh shares aggregating to ₹76.25 crore. The price band for the Rajputana Stainless IPO was fixed at ₹116–₹122 per share.

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Listing Price Estimate

The estimated listing price is likely to be ₹125, which is 2.46% higher than the IPO price of ₹122. The GMP trend of Rajputana Steel IPO in the grey market indicates a muted listing, with a GMP of ₹3.