Rajputana Stainless Solutions IPO Price: ₹116 to ₹122 per share
IPO Dates: 9th March – 11th March 2026
Company Overview
Incorporated in 1991, Rajputana Stainless Limited is engaged in the manufacturing of long and flat stainless-steel products.
The company offers 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 diverse grades.
Market Presence
The company primarily sells its products domestically through direct sales and traders. It also exports its products to five international markets, including:
- UAE
- USA
- Turkey
- Kuwait
- Poland
Industry Applications
Rajputana Stainless Limited supplies raw materials to several key industries, including:
- Precision engineering
- Seamless pipes
- Aerospace
- Forging
- Oil & Gas
- Defense
- Automotive
- Aviation
Manufacturing Facility
The company operates a manufacturing facility spread across 35,196.98 sq. meters in Kalol, Gujarat.
The facility is equipped with advanced infrastructure, including:
- Induction furnace
- AOD (Argon Oxygen Decarburization)
- CCM (Continuous Casting Machine)
- Heat treatment facilities
- Rolling mill
- Bright bar shop
This setup enables efficient and streamlined production.
Product Portfolio
Billets
The company manufactures stainless steel billets, which are semi-finished products produced from liquid steel. These billets serve as key inputs for hot working processes such as forging, rolling, and ring rolling.
Cast Ingots
Rajputana Stainless produces cast ingots, which are metal masses poured into molds for easier storage, transportation, and further processing. These ingots are defect-free, traceable, and widely used in open-die forgings, re-rolling, and ring rolling.
Hexagonal Bars
The company manufactures hexagonal stainless steel bars, which are commonly used in the production of nuts, valves, hose ends, fasteners, and hex bolts.
Workforce
As of September 30, 2025, the company had 408 permanent employees and workers, including both skilled and unskilled workforce.
Competitive Strengths
- Established and integrated manufacturing setup at a strategic location
- Diverse product portfolio catering to multiple industries
- Strong customer base and long-standing relationships
- Experienced promoters and management team
- Consistent track record of healthy growth
Bidding Starts In
Rajputana Stainless IPO Specifics:
| IPO Date | 9 to 11 Mar, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹116 to ₹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 |
Rajputana Stainless IPO Timetable (Important Dates)
| Particulars | Date |
|---|---|
| IPO Open Date | Mon, Mar 9, 2026 |
| IPO Close Date | Wed, Mar 11, 2026 |
| Tentative Allotment | Thu, Mar 12, 2026 |
| Initiation of Refunds | Thu, Mar 12, 2026 |
| Credit of Shares to Demat | Fri, Mar 13, 2026 |
| Listing Date | Mon, Mar 16, 2026 |
Rajputana Stainless IPO Lot Size
Bidders have the opportunity to bid for a minimum of 110 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| 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 |
Rajputana Stainless IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
Rajputana Stainless IPO Financial Information
| Particulars | 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 | 937.749 | 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 Performance Indicator – Rajputana Stainless IPO
| KPI | Value |
|---|---|
| ROE | 30.17% |
| ROCE | 31.72% |
| Debt/Equity | 0.66 |
| RoNW | 26.23% |
| PAT Margin | 4.28% |
| EBITDA Margin | 7.92% |
| Price to Book Value | 5.53 |
| EPS (₹) | 5.78 |
| P/E (x) | 21.1 |
| Promoter Holding | 78.22% |
| Market Cap | ₹1,019.53 Cr. |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
Kaashika is a social media strategist and financial content creator at Lakshmishree. She specialises in simplifying complex IPO and stock market concepts into clear, easy-to-understand content. Having created over 500+ pieces of financial content across reels, blogs, website posts and digital creatives, Kaashika helps audiences connect with the world of finance in a more accessible and engaging way.
