Rajputana Stainless IPO Details
| IPO Open Date | March 9, 2026 |
| IPO Close Date | March 11, 2026 |
| Face Value | ā¹10 Per Equity Share |
| IPO Price Band | ā¹116 to ā¹122 Per Share |
| Issue Size | Approx ā¹254.98 Crores |
| Fresh Issue | Approx ā¹178.73 Crores |
| Offer for Sale: | Approx 62,50,000 Equity Shares |
| Issue Type | Book build Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Rajputana Stainless IPO Review & Key Points
- Review: Neutral
Rajputana Stainless IPO Market Lot
The Rajputana Stainless IPO minimum market lot is 110 shares with ā¹13,420 application amount. The retail investors can apply up-to 13 lots with 1,540 shares of ā¹1,87,880 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 110 | ā¹13,420 |
| Retail Maximum | 14 | 1,540 | ā¹1,87,880 |
| S-HNI Minimum | 15 | 1,650 | ā¹2,01,300 |
| S-HNI Maximum | 74 | 8,140 | ā¹9,93,080 |
| B-HNI Minimum | 75 | 8,250 | ā¹10,06,500 |
IPO Reservation
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | 8,19,720 Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Rajputana Stainless IPO Anchor Investors
| Anchor Bidding Date | March 6, 2026 |
| Anchor Investors List | |
| Shares Offered | 8,19,720 Shares |
| Anchor Size | 10.00 Cr. |
| lock-in period end date 50% shares (30 Days) | April 11, 2026 |
| lock-in period end date 50% shares (90 Days) | June 10, 2026 |
Rajputana Stainless IPO Dates
The Rajputana Stainless IPO date is March 9 and the close date is March 11. The Rajputana Stainless IPO allotment will be finalized on March 17 and the IPO listing on March 19.
| IPO Open Date: | March 9, 2026 |
| IPO Close Date: | March 11, 2026 |
| Basis of Allotment: | March 17, 2026 |
| Refunds: | March 18, 2026 |
| Credit to Demat Account: | March 18, 2026 |
| IPO Listing Date: | March 19, 2026 |
| IPO Bidding Cut-off Time: | March 11, 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Shankarlal Deepchand Mehta, Babulal D Mehta, Jayesh Natvarlal Pithva, and Yashkumar Shankarlal Mehta.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 6,89,17,658 | 78.22% |
| Promoter Holding Post Issue | 8,35,67,658 | 57.01% |
Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
| Funding capital expenditure requirements for setting up of manufacturing facility for Stainless Steel Seamless Pipes to expand the product portfolio (āProposed Facilityā); | ā¹18.57 |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company; and | ā¹98.00 |
| General Corporate Purpose | ā¹- |
About Rajputana Stainless IPO
Rajputana Stainless, founded in 1991, is one of the leading companies to manufacture long and flat stainless steel products. Its product portfolio includes a wide range of stainless steel products such as billets, forging ingots, rolled black and bright bars, flat & patti, and other ancillary products available in more than 80 different grades.
The firm sells its products via direct sales and traders, as well as exporting to other countries, including the UAE, the USA, Turkey, Kuwait, and Poland. Moreover, the firm also supplies its raw materials to various industries includes seamless pipes, aerospace, forging, oil and gas, defense, automotive, aviation, and precision engineering. Its manufacturing unit is situated in Kalol, Gujarat, covering 35,196.98 sq. m. Its facilities include modern equipment like an induction furnace, AOD, continuous casting machine (CCM), heat treatment unit, rolling mill, and bright bar shop.
Rajputana Stainless IPO Company Financial Report
Amount ā¹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ā¹950.69 | ā¹922.11 | ā¹24.04 | ā¹297.34 |
| 2024 | ā¹915.50 | ā¹873.18 | ā¹31.63 | ā¹324.01 |
| 2025 | ā¹937.49 | ā¹882.85 | ā¹39.85 | ā¹420.36 |
| Sep 2025 | ā¹502.77 | ā¹470.45 | ā¹24.41 | ā¹448.80 |
Rajputana Stainless IPO Valuation – FY2025
Check Rajputana Stainless IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 30.17% |
| ROCE: | 31.72% |
| EBITDA Margin: | 7.92% |
| PAT Margin: | 4.28% |
| Debt to equity ratio: | 0.66 |
| Earning Per Share (EPS): | ā¹5.78 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 26.23% |
| Net Asset Value (NAV): | ā¹22.05 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Mangalam Worldwide Ltd | 10.59 | 22.57 | 11.28% | 91.37 | 1,060.71 Cr. |
| Mukand Ltd | 5.24 | 26.34 | 7.99% | 65.72 | 4,889.99 Cr. |
| Electrotherm Ltd | 347.06 | 3.16 | (278.47%) | (124.60) | 4,115.37 Cr. |
| Panchmahal Steel Ltd | 1.74 | 182.18 | 2.07% | 84.02 | 383.10 Cr. |
IPO Lead Managers aka Merchant Bankers
- Nirbhay Capital Services Pvt. Ltd.
Company Address
Rajputana Stainless Ltd.
213, Madhwas,
Halol Kalol Road, Kalol,
Panchmahal
Halol, Gujarat, 389330
Phone: +91 63 5816 4770
Email: compliance@rajputanastainless.com
Website: https://www.rajputanastainless.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: rsl.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
ā ļø Special Withdrawal Window ā Rajputana Stainless IPO
š¢ SEBI Update
Due to the circulation of promotional emails & videos inviting investors to apply , SEBI has allowed an extra withdrawal window for this IPO.
š Withdrawal Dates:
- 12 March 2026
- 13 March 2026
- 16 March 2026
ā° Time: 10:00 AM ā 5:00 PM
š Who can withdraw?
Investors who already applied in Rajputana Stainless IPO
š How to withdraw?
Through Broker / SCSB Bank / UPI
ā” If you want to cancel your IPO application, use this special window.
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