Rajputana Stainless IPO
Rajputana Stainless IPO — date, price band, GMP & allotment 2026
Rajputana Stainless Ltd, founded in 1991, is a Gujarat-based manufacturer of long and flat stainless-steel products like billets, bars and ingots, selling mainly in India and exporting to markets such as the UAE and USA. Its ₹255 crore IPO opens for subscription from 9–11 March 2026 with a price band of ₹116–122 per share, aiming to fund expansion and corporate purposes. The shares are slated to list on NSE and BSE mid-March.
Stock price
Rajputana Stainless is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 September.
- Open 09 Mar 2026
- Close 11 Mar 2026
- Allotment 12 Mar 2026
- Refund/credit 13 Mar 2026
- Listing 19 Mar 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Mar, 2026 |
|---|---|
| Price Band | ₹116 – ₹122 |
| Face Value | ₹10 |
| Lot Size | 110 Shares |
| Issue Size | ₹255 Cr |
| Sale Type | book build |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 13,420 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 110 shares at the ₹122 cut-off. Drag to size your application.
| 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 |
Three years of numbers
All figures in ₹ crore, as reported in the Rajputana Stainless offer document.
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 502.77 | 937.49 | 915.50 |
| EBITDA | 45.92 | 73.79 | 59.41 |
| Net Profit | 24.41 | 39.85 | 31.63 |
| Debt | 85.91 | 99.75 | 79.76 |
| Assets | 448.80 | 420.36 | 324.01 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Rajputana Stainless RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Rajputana Stainless IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹5.78 |
| P/E Ratio (x) | 21.10 |
| Market Cap at Offer Price (₹ Cr) | ₹515.23 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹122 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹116.57 Cr of the issue is earmarked to named objects.
About the company
Rajputana Stainless follows a B2B business model, selling primarily to manufacturers, traders and industrial clients in sectors such as engineering, fasteners, pipes and automotive, with both domestic distribution and exports to markets like the UAE, USA, Turkey, Kuwait and Poland. The company emphasises quality, backed by industry certifications, and focuses on reliable supply, customer-centric service and operational scale to maintain long-term client relationships
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
91 63 5816 4770
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nirbhay Capital Services
1 issue handled1 of their issues has listed so far, and 1 opened above the issue price (average +5.3%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Rajputana Stainless?
The current Grey Market Premium is ₹0.
What is the Rajputana Stainless IPO price band?
₹116 to ₹122, on a face value of ₹10.
When is the allotment?
The basis of allotment is 12 March 2026, with listing on 19 March 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
