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Rajputana Stainless

Listed MAINBOARD BSE, NSE · Iron & Steel Products

Price Band

₹116.0–122.0

Issue Size

₹254.98 Cr

Lot Size

110 shares

Min Investment

₹13,420

GMP

+₹3.0 (2.46%)

Issue Price

₹122.0

calendar_month Important Dates

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IPO Open Date
Mon, 09 Mar 2026
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IPO Close Date
Wed, 11 Mar 2026
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Allotment Date
Tue, 17 Mar 2026
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Refund Initiation
Wed, 18 Mar 2026
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Credit of Shares
Wed, 18 Mar 2026
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Listing Date
Thu, 19 Mar 2026
Listing Price
₹125.0 +2.46%

bar_chart Subscription Status

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Subscription data unavailable

trending_up Grey Market Premium (GMP)

GMP

+₹3.0

GMP %

+2.46%

Est. Listing

₹125.0

schedule Updated: 14 Jul 2026 15:52

business About the Company

Rajputana Stainless Limited is engaged in the production of long and flat stainless-steel products, catering to a wide spectrum of industrial applications. The company manufactures an extensive range of stainless steel products in more than 80 grades. Its offerings include billets, forging ingots, rolled black bars, bright bars, flat bars, pattis, and other related products. Sales are primarily driven through the domestic market via direct channels and trader networks, along with exports to countries such as the UAE, USA, Turkey, Kuwait, and Poland. Leveraging its technical expertise and manufacturing capabilities, the company supplies raw materials to industries including seamless pipe manufacturing, aerospace, forging, oil and gas, defense, automotive, aviation, and precision engineering. Rajputana Stainless Limited operates a manufacturing facility spread across 35,196.98 square meters in Kalol, Gujarat. The plant is equipped with advanced infrastructure such as an induction furnace, Argon Oxygen Decarburization (AOD) unit, Continuous Casting Machine (CCM), heat treatment facilities, a rolling mill, and a bright bar shop to ensure streamlined and efficient production processes. Product Portfolio Billets: Semi-finished stainless steel products cast from liquid steel, commonly used as feedstock for hot working processes such as rolling, forging, and ring rolling. Cast Ingots: Molded steel blocks designed for convenient handling, storage, and further processing. These ingots are defect-free, traceable, and suitable for applications like open-die forging and re-rolling. Hexagonal Bars: Stainless steel bars rolled into hexagonal shapes, widely used in the production of nuts, bolts, fasteners, valves, and hose fittings. As of June 30, 2024, the company employed 429 permanent staff members, including both skilled and unskilled workers. Competitive Strengths Well-established and integrated manufacturing facility in a strategic location Broad and diversified product portfolio Strong and longstanding customer relationships Experienced promoters and management team Consistent track record of steady growth

payments Company Financials (₹ Cr)

As of 2025-09-30

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

Key Ratios

EPS

₹5.78

NAV

₹22.05

ROE

30.17%

ROCE

31.72%

RoNW

26.23%

P/B Value

5.53

P/E Ratio

21.1

Market Cap

₹1019.53 Cr

PAT Margin

4.28%

Debt/Equity

0.66

Promoters

Shankarlal Deepchand Mehta, Babulal D Mehta, Jayesh Natvarlal Pithva and Yashkumar Shankarlal Mehta

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 4 Issue Expenses 24.99 Total 186.20

info Issue Details

Issue Type MAINBOARD Book Built
Issue Size ₹254.98 Cr
Price Band ₹116.0 – ₹122.0
Issue Price ₹122.0
Lot Size 110 shares
Min Investment ₹13,420
Exchange BSE, NSE
Sector Iron & Steel Products
Open Date 09 Mar 2026
Close Date 11 Mar 2026
Allotment 17 Mar 2026
Listing Date 19 Mar 2026

pie_chart Investor Allocation

QIB (Institutional) 50%
NII / HNI 15%
Retail (RII) 35%

Registrar

domain Kfin Technologies Ltd.

Lead Managers / Book Running

account_balance Nirbhay Capital Services Pvt.Ltd.

timeline IPO Timeline

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Open

09 Mar 2026

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Close

11 Mar 2026

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Allotment

17 Mar 2026

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Listing

19 Mar 2026

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