Rajputana Stainless IPO Day 2: Check GMP, Subscription Status & Key Highlights
The Rajputana Stainless IPO enters its second day of subscription today, 10 March 2026. By the end of the first day, the issue was subscribed 30%. The bidding window is scheduled to close on March 11, 2026.
Rajputana Stainless IPO: Issue Details
Issue Type: The Rajputana Stainless IPO is a book-build issue of ₹254.98 crore, consisting of a fresh issue of ₹178.73 crore and an Offer-for-Sale (OFS) of ₹76.25 crore.
Price Band: The price band is set between ₹116 and ₹122 per share.
Lot Size & Minimum Investment: The lot size for an application is 110 shares, and the minimum investment required is ₹13,420 (for retail investors).
Allotment Date: The basis of allotment will be finalised by March 12, 2026
Listing Date: The tentative listing date on NSE and BSE is March 16, 2026.
Book-running Lead Managers: Nirbhay Capital Services Private Limited
Registrar: KFin Technologies Limited
Rajputana Stainless IPO Day 2 Subscription Status
[10 March 2026 10:54:00 hrs]
|
Investor Category |
Subscription (Times) |
|
Qualified Institutional Buyers (QIBs) |
0.99 |
|
Non-Institutional Investors |
0.68 |
|
Retail Individual Investors (RIIs) |
0.06 |
|
Total |
0.32 |
Rajputana Stainless IPO Day 1 Subscription Status
[9 March 2026 17:00:00 hrs]
|
Investor Category |
Subscription (Times) |
|
Qualified Institutional Buyers (QIBs) |
0.99 |
|
Non-Institutional Investors |
0.65 |
|
Retail Individual Investors (RIIs) |
0.04 |
|
Total |
0.30 |
Utilisation of IPO Proceeds
The net proceeds from the fresh issue will be used to fund the expenses towards the following objectives:
- Fund capital expenditure towards the expansion of the existing manufacturing facility in the Panchmahal district, Gujarat, through forward integration and diversification of the product portfolio, i.e., stainless steel seamless pipes.
- Repay/prepay outstanding borrowings
- General corporate purposes
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Rajputana Stainless IPO GMP
According to media reports, the Grey Market Premium (GMP) of the Rajputana Stainless IPO is reported at ₹1.5 over the IPO price.
Rajputana Stainless IPO Business Overview
Rajputana Stainless is a B2B company that manufactures and supplies over 80 grades of stainless steel under the brand name “RSL”. Their product portfolio includes billets, forging ingots, rolled black bars, rolled bright bars, flats, pattis, and other value-added stainless-steel products for manufacturers, processors, and traders.
Along with the Indian market, the company exports to nine countries, including Turkey, the UAE, Poland, Portugal, the USA, South Africa, South Korea, the Czech Republic, and Kuwait.
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Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.
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