
Materials & Industrials · NSE / BSE
Established in 1991, Rajputana Stainless Limited operates in the stainless-steel manufacturing sector, producing both long and flat stainless-steel products across more than 80 grades to serve industries such as seamless pipes, aerospace, forging, oil & gas, defense, automotive, aviation, and precision engineering. The company’s diversified portfolio includes billets, forging ingots, rolled black and bright bars, flat and patti products, and other ancillary items, with sales driven primarily through domestic direct sales and trader networks, along with exports to markets such as the UAE, USA, Turkey, Kuwait, and Poland. Its integrated manufacturing facility, spread over 35,196.98 sq. m. in Kalol, Gujarat, is equipped with advanced infrastructure including an induction furnace, AOD converter, continuous casting machine (CCM), heat treatment units, rolling mill, and bright bar shop, enabling efficient end-to-end production. Key products include billets used in forging and rolling processes, cast ingots for open-die forging and re-rolling with ensured traceability, and hexagonal bars widely used in nuts, valves, fasteners, hose ends, and hex bolts.
Price Band
₹116 – ₹122
Issue Size
₹2090.00 L Cr
Lot Size
110 shares
GMP
+0.8%
Est. Listing
₹123
at current GMP
Subscribed
1.12x
overall
Open
9 Mar 2026
Close
11 Mar 2026
Allotment
17 Mar 2026
Refund
18 Mar 2026
Demat Credit
19 Mar 2026
Listing
19 Mar 2026
Overall Subscription
1.12x
Total Demand
QIB Multiplier
2.51x
Institutions & Funds
NII / HNI
2.59x
High Net-Worth
Retail (RII)
0.27x
Individual Bidders
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 2,090,000 | 5,239,630 | 2.51x |
| NIB | 5,643,000 | 14,640,340 | 2.59x |
| HNIs(10L +) | 3,762,000 | 14,063,060 | 3.74x |
| HNIs (2-10L) | 1,881,000 | 577,280 | 0.31x |
| RETAIL | 13,167,000 | 3,539,690 | 0.27x |
| Total | 26,543,000 | 38,060,000 | 1.12x |
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| RETAIL | 119,700 | 22,791 | 0.19x |
| HNIs(10L +) | 2,280 | 1,083 | 0.47x |
| HNIs (2-10L) | 1,140 | 287 | 0.25x |
| Total Applications | 123,120 | 24,161 | 0.20x |
Rajputana Stainless Limited is bringing an initial public offering (IPO) in the Materials & Industrials sector with an aggregate issue size of ₹2,09,00,000 Crores. The shares are offered at a price band of ₹116 to ₹122 per equity share on NSE and BSE. Currently, traders and retail applicants are calculating expected listing gains and break-even points based on unofficial grey market quotations.
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 110 shares (approx. ₹13,420 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment reconciliation will be managed by Kfin Technologies Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2026-03-19, while un-allotted funds or UPI block mandates will be released on 2026-03-18.
The Rajputana Stainless Limited IPO aggregate issue size is ₹2,09,00,000 Crores with an equity price band set at ₹116 to ₹122 per equity share. The retail lot size is 110 shares requiring a minimum capital outlay of approx. ₹13,420.
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. You can track QIB, NII/HNI, and Retail category multiples directly on our dedicated live subscription page.
The basis of allotment will be published on the official registrar portal (Kfin Technologies Limited) and the BSE status verification website on or around 2026-03-17.