Rajputana Stainless
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05Rajputana Stainless IPO Market Lot
- 06 Rajputana Stainless IPO Details
- 07 Rajputana Stainless IPO Reservation
- 08 Rajputana Stainless IPO Anchor Investors
- 09 Rajputana Stainless IPO Dates
- 10 Rajputana Stainless IPO Promoters & Holding
- 11 Rajputana Stainless IPO – Objects of the Issue
- 12 About Rajputana Stainless IPO
- 13 Rajputana Stainless IPO – Financial Report
- 14 Rajputana Stainless IPO – Valuation (FY2025)
- 15 Rajputana Stainless IPO – Peer Group Comparison
- 16 IPO Lead Managers aka Merchant Bankers
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 18 Mar 2026 | ₹3.00 | +₹1.00 | 2.46% |
| 16 Mar 2026 | ₹2.00 | +₹0.25 | 1.64% |
| 11 Mar 2026 | ₹1.75 | - | 1.43% |
| 10 Mar 2026 | ₹1.75 | - | 1.43% |
Rajputana Stainless IPO MARKET LOT
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 110 | ₹13,420 |
| Retail Maximum | 14 | 1,540 | ₹187,880 |
| S-HNI Minimum | 15 | 1,650 | ₹201,300 |
| S-HNI Maximum | 74 | 8,140 | ₹993,080 |
| B-HNI Minimum | 75 | 8,250 | ₹1,006,500 |
Rajputana Stainless IPO DETAILS
| IPO Open Date | March 9, 2026 |
|---|---|
| IPO Close Date | March 11, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹116 – ₹122 Per Share |
| Issue Size | Approx ₹254.98 Crores |
| Fresh Issue | Approx ₹178.73 Crores |
| Offer for Sale | Approx 62,50,000 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | BSE, NSE |
Rajputana Stainless IPO RESERVATION
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | – % |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII (HNI) | – Shares | 15% |
| Retail | – Shares | 35% |
Rajputana Stainless IPO Anchor INVESTORS
| Details | Information |
|---|---|
| Anchor Bidding Date | March 6, 2026 |
| Anchor Investors List | To be announced |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock‑in Period End (50% Shares – 30 Days) | 2026 |
| Lock‑in Period End (50% Shares – 90 Days) | 2026 |
Rajputana Stainless IPO DATES
| Event | Date |
|---|---|
| IPO Open Date | March 9, 2026 |
| IPO Close Date | March 11, 2026 |
| Basis of Allotment | March 12, 2026 |
| Refunds | March 13, 2026 |
| Credit to Demat Account | March 13, 2026 |
| IPO Listing Date | March 16, 2026 |
| IPO Bidding Cut‑off Time | March 11, 2026 – 5 PM |
Rajputana Stainless IPO Promoters & HOLDING
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% |
Rajputana Stainless IPO – Objects of the ISSUE
| Purpose | Amount (₹ Crores) |
|---|---|
| Funding capital expenditure for setting up a manufacturing facility for Stainless Steel Seamless Pipes to expand the product portfolio | ₹18.57 |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company | ₹98.00 |
| General Corporate Purpose | – |
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 – Financial REPORT
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | ₹950.69 | ₹922.11 | ₹24.04 | ₹297.34 |
| 2024 | ₹915.50 | ₹873.18 | ₹31.63 | ₹324.01 |
| 2025 | ₹937.49 | ₹882.85 | ₹39.85 | ₹420.36 |
| Sep 2025 | ₹502.77 | ₹470.45 | ₹24.41 | ₹448.80 |
Rajputana Stainless IPO – Valuation (FY2025)
| 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) | ₹5.78 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 26.23% |
| Net Asset Value (NAV) | ₹22.05 |
Rajputana Stainless IPO – Peer Group COMPARISON
| Company | EPS | P/E 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.