Rajputana Stainless Sets IPO Price Band at ₹116–122 Ahead of March 9 Launch

Rajputana Stainless Ltd, a leading stainless steel manufacturer, has announced the price band for its Initial Public Offering (IPO) at ₹116–122 per equity share. The IPO subscription will run from March 9 to March 11, 2026, with anchor investor allocation scheduled for March 6, 2026.

The IPO comprises a fresh issue of ₹179 crore and an Offer for Sale (OFS) of ₹76 crore by promoter Shankarlal Deepchand Mehta, targeting a total raise of ₹254.98 crore. Proceeds will be used for debt repayment, establishing a stainless steel seamless pipes facility, and general corporate purposes.

Key Highlights:

• Price Band: ₹116–122 per equity share (face value ₹10).
• Lot Size: 110 equity shares and multiples thereof.
• Investor Allocation: QIBs (≤50%), NIIs (≥15%), Retail (≥35%).

Timeline:

• Anchor allocation: March 6, 2026
• Subscription: March 9–11, 2026
• Basis of allotment: March 12, 2026
• Refunds & credit to demat: March 13, 2026
• Listing on BSE & NSE: March 16, 2026
• Promoter Holding: 78.21% (public shareholders hold 21.79%).
• Company Profile: Manufactures billets, ingots, bars, and flat products across 80+ grades; exports to UAE, USA, Turkey, Kuwait, and Poland.
• Peers: Mangalam Worldwide Ltd (P/E 22.57), Mukand Ltd (P/E 26.34), Electrotherm Ltd (P/E 3.16), Panchmahal Steel Ltd (P/E 182.18).

Rajputana Stainless’s IPO reflects its ambition to expand product offerings and strengthen its global footprint in stainless steel manufacturing.

Sources: Red Herring Prospectus (RHP), Mint, CNBC TV18, Economic Times