Rajputana Stainless IPO Day 3: Check Latest GMP, Subscription Status & Key Highlights
The ₹254.98 crore initial public offering (IPO) of Rajputana Stainless will conclude today, 11 March 2026. Till the end of day 2, the IPO received a subscription of 0.42 times.
Rajputana Stainless IPO: Issue Details
- Issue Size: The Rajputana Stainless IPO is a book-building issue of ₹254.98 crore, comprising a fresh issue of ₹178.73 crore and an Offer-for-Sale (OFS) of ₹76.25 crore.
- Price Band: The price band is set at ₹116 and ₹122 per share.
- Lot Size: 110 shares
- Minimum Investment: ₹13,420 per lot for retail investors
- Book-running lead managers: Nirbhay Capital Services Private Limited
- Registrar: KFin Technologies Limited
- Listing: The shares are proposed to be listed on the NSE and the BSE on March 16, 2026.
Rajputana Stainless IPO Day 3: Subscription Details
[11-March-2026 10:57:00 hrs]
|
Investor Category |
Subscription (Times) |
|
Qualified Institutional Buyers (QIBs) |
0.99 |
|
Non-Institutional Investors |
1.01 |
|
Retail Individual Investors (RIIs) |
0.15 |
|
Total |
0.47 |
Utilisation of IPO Proceeds
The net proceeds from the fresh issue will be used to 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
Explore other Upcoming IPOs on BSE and NSE.
Rajputana Stainless IPO GMP
According to media reports, the Grey Market Premium (GMP) of the Rajputana Stainless IPO is reported at ₹1 over the IPO price.
Rajputana Stainless Business Overview
Rajputana Stainless 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.
The company operates primarily under a business-to-business (B2B) model, supplying products to manufacturers, processors, and traders.
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