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IPO Stock Quote & Charts

₹102.98

-3.52 (-3.31%)

Open

₹106.00

Day High - Low

₹106.00 - ₹102.00

Previous Close

₹106.50

Traded Value

26,14,014.00

No. of Trades

3,992

52 Weeks High

₹122.10 (Mar 19, 2026)

52 Weeks Low

₹102.00 (Mar 27, 2026)

Updated On: Mar 27, 2026

IPO Open

Mon, Mar 9, 2026

IPO Close

Wed, Mar 11, 2026

Price Band

₹122 per share

Market Cap (Pre-IPO)

₹1,019.53 Cr

IPO Details

  • IPO Date
    9 to 11 Mar, 2026
  • Listing Date
    Thu, Mar 19, 2026
  • Face Value
    ₹10 per share
  • Price Band
    ₹116 to ₹122
  • Issue Price
    ₹122 per share
  • Lot Size
    110 Shares
  • Sale Type
    Fresh capital cum OFS
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Total Issue Size
    2,09,00,000 shares (agg. up to ₹255 Cr)
  • Fresh Issue
    1,46,50,000 shares (agg. up to ₹179 Cr)
  • Offer for Sale
    62,50,000 shares of ₹10 (agg. up to ₹76 Cr)
  • Share Holding Pre Issue
    6,89,17,658 shares
  • Share Holding Post Issue
    8,35,67,658 shares
  • BSE Script Code / NSE Symbol
    544731 / RSL
  • ISIN
    INE313L01016

IPO Timetable (Tentative)

  • IPO Open
    Mon, Mar 9, 2026
  • Allotment
    Tue, Mar 17, 2026
  • Credit of Shares
    Thu, Mar 19, 2026
  • IPO Close
    Wed, Mar 11, 2026
  • Refund
    Wed, Mar 18, 2026
  • Listing
    Thu, Mar 19, 2026

IPO Reservation

Rajputana Stainless IPO offers total 2,09,00,000 shares. Out of which 20,90,000 (10.00%) allocated to QIB, 56,43,000 (27.00%) allocated to NII 1,31,67,000 (63.00%) allocated to RII.

Investor Category Shares Offered Max Allottees
QIB Shares Offered 20,90,000 (10.00%) NA
NII (HNI) Shares Offered 56,43,000 (27.00%) NA
  − bNII > ₹10L 37,62,000 (18.00%) 2,280
  − sNII < ₹10L 18,81,000 (9.00%) 1,140
Retail Shares Offered 1,31,67,000 (63.00%) 1,19,700
Total Shares Offered 2,09,00,000 (100.00%)

IPO Lot Size

Investors can bid for a minimum of 110 shares and in multiples thereof.

Application Lots Shares Amount
Retail (Min) 1 110 ₹13,420
Retail (Max) 14 1,540 ₹1,87,880
S-HNI (Min) 15 1,650 ₹2,01,300
S-HNI (Max) 74 8,140 ₹9,93,080
B-HNI (Min) 75 8,250 ₹10,06,500

IPO Subscription Details

About Rajputana Stainless Ltd.

Incorporated in 1991, Rajputana Stainless Limited is engaged in manufacturing long and flat stainless-steel products.

The company offers a range of stainless steel products, including billets, forging ingots, rolled black and bright bars, flat & patti, and other ancillary products, in over 80 diverse grades.

The company primarily sells its products domestically through direct sales and traders, while also exporting to five countries: UAE, USA, Turkey, Kuwait, and Poland.

The company uses its expertise and infrastructure to supply raw materials for various industries, including seamless pipes, aerospace, forging, oil and gas, defense, automotive, aviation, and precision engineering.

The company operates a manufacturing facility of 35,196.98 Sq.m in Kalol, Gujarat, equipped with an induction furnace, AOD, CCM, heat treatment facilities, rolling mill, and bright bar shop for efficient production.

Product Portfolio:

  • Billet: The company produces stainless steel billets, semi-finished products made from liquid steel, used as optimal inputs for hot working processes such as forging, rolling, and ring rolling.
  • Cast ingots: The company produces cast ingots, metal masses poured into molds for easy storage, transportation, and further processing. These ingots are free from defects, marked for traceability, and used in open die forgings, re-rolling, and ring rolling.
  • Hexagon al Bars: The company produces hexagonal bars, stainless steel rolled into hexagonal shapes, used in manufacturing nuts, valves, hose ends, fasteners, and hex bolts.

As of September 30, 2025, the company had 408 permanent employees and workers comprising skilled and unskilled workers.

Competitive Strengths:

  • Established, integrated manufacturing setup at a strategic location.
  • Diverse Product Portfolio.
  • Established customer base and strong relationships.
  • Strong Promoters and Experienced Management Team.
  • Track Record of healthy growth.

Company Financials (Restated)

Period Ended 30 Sep 2025 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets 448.80 420.36 324.01 297.34
Total Income 502.77 937.49 915.50 950.69
Profit After Tax 24.41 39.85 31.63 24.04
EBITDA 45.92 73.79 59.41 43.85
NET Worth 176.65 151.95 112.27 81.17
Reserves and Surplus 108.16 83.75 78.36 46.73
Total Borrowing 85.91 99.75 79.76 79.83
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1) Funding capital expenditure requirements for expansion of the existing manufacturing facility at Panchmahal district, Gujarat through forward integration and diversification of product portfolio i.e., Stainless Steel Seamless Pipes
    18.57
  • 2 Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company
    98.00
  • 3) General corporate purposes
    44.64
  • Total
    161.21

Key Performance Indicator (KPI)

KPI Sep 30, 2025 Mar 31, 2025
ROE 14.86% 30.17%
ROCE 16.55% 31.72%
Debt/Equity 0.49 0.66
RoNW 13.82% 26.23%
PAT Margin 4.87% 4.28%
EBITDA Margin 9.16% 7.92%
Price to Book Value 5.53
Check IPO Peer Comparison here.
Pre IPO Post IPO
EPS (₹) 5.78 5.84
P/E (x) 21.1 20.88
Promoter Holding 78.22% 57.01%
Market Cap ₹1,019.53 Cr.
Shankarlal Deepchand Mehta, Babulal D Mehta, Jayesh Natvarlal Pithva and Yashkumar Shankarlal Mehta are the promoters of the company.
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.

IPO Review

[Dilip Davda]

RSL is engaged in the manufacturing of various types of stainless-steel products meeting varied use. The company marked degrowth in its top lines, but posted growth in bottom lines for the reported periods. The company is operating in a highly competitive and fragmented segment. Based on its recent financial data, the issue appears aggressively priced. Well-informed investors may park funds for medium to long term.

Read detail review…

Rajputana Stainless IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 8 0 1 2
Members 0 0 0 0

IPO Subscription Status

The Rajputana Stainless IPO is subscribed 1.12 times on March 11, 2026 6:54:35 PM (Day 3). The public issue subscribed 0.27 times in the retail category, 2.51 times in the QIB category, and 2.59 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category Subscription (x) Shares Offered Shares bid for
QIB (Ex Anchor) 2.51 20,90,000 52,39,630
NII 2.59 56,43,000 1,46,40,340
    bNII (> ₹10L) 3.74 37,62,000 1,40,63,060
    sNII (< ₹10L) 0.31 18,81,000 5,77,280
Retail 0.27 1,31,67,000 35,39,580
Total 1.12 2,09,00,000 2,34,19,550

Total Applications: 22,676

In continuation to BSE Notice No. 20260306-21 dated March 06, 2026, Investors are informed that the anchor investor for the IPO of Rajputana Stainless Limited has withdrawn.

Special Withdrawal Window– As per SEBI directions, investors in the IPO of Rajputana Stainless Limited have been given an additional window to withdraw their bids on March 12, 13, and 16, 2026 (10:00 am to 5:00 pm). Withdrawal can be done through their broker, SCSB, or UPI mechanism.

IPO Expenses

  • # Issue Expenses
    Est Amt (₹ Cr.)
  • 1 Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission)
    17.21
  • 2 Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Offer and fee payable to the Sponsor Bank for Bids made by RIBs, Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDP
    0.05
  • 3 Advertising and marketing expenses
    0.80
  • 4 Fee payable to auditors, consultants and market research firms
    4.32
  • 5 Fees to regulators, including Stock Exchanges i.e. Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees, fees payable to the Registrar to the Offer, postages, depository charges and other regulatory expenses
    1.48
  • 6 Printing and distribution of stationery;
    0.15
  • 7 Miscellaneous
    0.97
  • Total
    24.99

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹122.00 ₹122.00
Open ₹123.95 ₹122.00
Low ₹111.25 ₹111.16
High ₹123.95 ₹122.10
Last Trade ₹112.90 ₹113.03

Check IPO Performance…

IPO Registrar

Kfin Technologies Ltd.

IPO Lead Manager(s)

  1. Nirbhay Capital Services Pvt.Ltd.  (Past IPO Performance)

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Rajputana Stainless Ltd. Address
213, Madhwas,
Halol Kalol Road, Kalol,
Panchmahal
Halol, Gujarat, 389330
  • +91 63 5816 4770
  • compliance@rajputanastainless.com
  • Visit Website

IPO FAQs

Rajputana Stainless IPO is a main-board IPO of 2,09,00,000 equity shares of the face value of ₹10 aggregating up to ₹255 Crores. The issue is priced at ₹122 per share. The minimum order quantity is 110.

The IPO opens on Mon, Mar 9, 2026, and closes on Wed, Mar 11, 2026.

Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel Onecustomers can apply online in Rajputana Stainless IPO using UPI as a payment gateway. Angel One customers can apply in Rajputana Stainless IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Rajputana Stainless IPO through Angel One

  1. Visit the Angel One website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the ‘Rajputana Stainless IPO’ row and click the ‘Bid’ button.
  4. Enter your UPI ID, Quantity, and Price.
  5. Submit IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Rajputana Stainless IPO opens on Mon, Mar 9, 2026 and closes on Wed, Mar 11, 2026.

Rajputana Stainless IPO lot size is 110, and the minimum amount required for application is ₹13,420.

You can apply in Rajputana Stainless IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One , Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Rajputana Stainless IPO will be done on Tuesday, March 17, 2026, and the allotted shares will be credited to your demat account by Thu, Mar 19, 2026. Check the Rajputana Stainless IPO allotment status.

The Rajputana Stainless IPO listing date is on Thu, Mar 19, 2026.

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