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Rajputana Stainless
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
bar_chart Subscription Status
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
Share GMP:
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
pie_chart Investor Allocation
Registrar
Lead Managers / Book Running
timeline IPO Timeline
Open
09 Mar 2026
Close
11 Mar 2026
Allotment
17 Mar 2026
Listing
19 Mar 2026