Minimum Investment
About Company
Company Name: Rajputana Stainless Limited
Industry / Sector: Steel / Stainless Steel Manufacturing
Founded Year: 1991
Promoters: Shankarlal Deepchand Mehta
Rajputana Stainless Limited is engaged in the manufacturing of stainless-steel long and flat products including billets, forging ingots, rolled bright bars, rolled black bars, flats, and pattis. The company serves industries such as engineering, automotive, oil & gas, aerospace, and defense with a wide range of stainless steel grades produced at its integrated manufacturing facility in Gujarat.
IPO Basic Details
| Company Name | Rajputana Stainless Limited |
| IPO Type | Mainboard IPO |
| Price Band | ₹116 – ₹122 |
| Lot Size | 110 |
| Total Issue Size | ₹254.98 Cr |
IPO Strengths & Risks
Strengths
- Integrated stainless steel manufacturing facility
- Wide product portfolio with multiple steel grades
- Established presence in engineering and automotive sectors
- Growing export opportunities
Risks
- Steel industry cyclicality
- Raw material price volatility (nickel and scrap)
- Dependence on industrial demand
- Competition from large integrated steel producers
IPO Important Dates
| IPO Open Date | 09 Mar 2026 |
| IPO Close Date | 11 Mar 2026 |
| Basis of Allotment | 12 Mar 2026 |
| Refund Initiation | 13 Mar 2026 |
| Demat Credit Date | 13 Mar 2026 |
| Listing Date | 16 Mar 2026 |
| Anchor Investor Date | 06 Mar 2026 |
| UPI Mandate Deadline | 11 Mar 2026 |
IPO Objectives
- Capital expenditure for machinery and equipment – Capital expenditure for setting up a stainless steel seamless pipes manufacturing facility
- Funding working capital requirements – N/A
- Debt repayment – Repayment or prepayment of certain outstanding borrowings
- General corporate purposes – Balance funds from the issue
Investor Reservation
| QIB Quota | 50% |
| Retail Quota | 35% |
| HNI Quota | 15% |
| Employee Quota | 0% |
| Shareholder Quota | 0% |
| Anchor Investor Allocation | Allocated before IPO opening |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 lot | 110 | ₹13,420 |
| Retail Maximum | 14 lots | 1540 | ₹1,87,880 |
| S-HNI Minimum | 15 lots | 1650 | ₹2,01,300 |
| S-HNI Maximum | 74 lots | 8140 | ₹9,93,080 |
| B-HNI Minimum | 75 lots | 8250 | ₹10,06,500 |
Key Performance Indicators (KPI)
| ROE | 26% |
| ROCE | 24% |
| RoNW | 26% |
| PAT Margin | 4.25% |
| EBITDA Margin | 8.8% |
| EPS | ₹5.78 |
| NAV per share | ₹22.40 |
| Debt to Equity | 0.62 |
| P/E Ratio | 21.1x |
| Industry P/E | 58x |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹640 Cr | ₹820 Cr | ₹24 Cr | ₹62 Cr | ₹140 Cr | ₹210 Cr |
| 31 Mar 2024 | ₹702 Cr | ₹918 Cr | ₹31 Cr | ₹71 Cr | ₹166 Cr | ₹225 Cr |
| 31 Mar 2025 | ₹735 Cr | ₹937.49 Cr | ₹39.85 Cr | ₹82 Cr | ₹190 Cr | ₹230 Cr |
Grey Market Premium
| GMP Price | ₹1 |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | March 2026 |
| Estimated Listing Price | ₹123 |
IPO Subscription Data
| Total Subscription | N/A |
| QIB (Ex Anchor) | N/A |
| HNI Subscription | N/A |
| Retail Subscription | N/A |
| Anchor | Allocated before IPO opening |
IPO Intermediaries
Registrar: Kfin Technologies Ltd.
Registrar Website: https://kfintech.com
IPO Lead Manager(s)
Company Information
Address: Kalol, Gujarat, India
Website: https://www.rajputanastainless.com
Email: info@rajputanastainless.com
Phone: +91-79-xxxxxxx
IPO Documents
Frequently Asked Questions (FAQ)
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