Like how specialty steel companies quietly power India’s infrastructure growth, Rajputana Stainless Limited IPO is entering the primary market with a focused stainless-steel manufacturing play. With a ₹254.98 Cr issue size and expansion plans into seamless pipes, investors are watching closely.

Is this IPO worth applying for? What is the expected GMP trend? How strong are the financials? Let’s break it down in a data-backed, investor-focused way.

IPO Snapshot (Quick View)

Rajputana Stainless Limited IPO price band is ₹116 to ₹122 per share, and the minimum investment required for retail investors is ₹13,420 (1 lot of 110 shares).

Rajputana Stainless Limited IPO Dates & Important Timeline

📌 Retail Quota: Minimum 35%

📌 QIB: Up to 50%

📌 NII: Up to 15%

About Rajputana Stainless Limited

Incorporated in 1991, Rajputana Stainless Limited manufactures long and flat stainless steel products across 80+ grades.

Manufacturing Facility

• Location: Kalol, Gujarat
• Area: 35,196.98 sq. m.
• Equipped with:
  • Induction Furnace
  • AOD
  • Continuous Casting Machine (CCM)
  • Rolling Mill
  • Bright Bar Shop

Export Markets

• UAE
• USA
• Turkey
• Kuwait
• Poland

Product Portfolio

• Stainless Steel Billets
• Forging Ingots
• Rolled Black & Bright Bars
• Flat & Patti
• Hexagonal Bars

Industries served:

• Aerospace
• Oil & Gas
• Automotive
• Aviation
• Defense
• Precision Engineering

Employees (as of Sept 2025): 408

Financial Analysis – Is Rajputana Stainless Limited IPO Fundamentally Strong?

Revenue & Profit Trend (₹ Cr)

Key Ratios

Objects of the Rajputana Stainless Limited IPO

Total IPO proceeds (Net Utilization: ₹116.57 Cr):

84% funds used for debt repayment – positive for balance sheet strengthening.

Valuation & P/E Analysis

• EPS (Post IPO): ₹5.84
• P/E (Post IPO): 20.88x
• Price to Book: 5.53x
• Market Cap: ₹1,019.53 Cr

Compared to other stainless steel players, a P/E of ~21x is moderate, not deeply discounted.

Rajputana Stainless Limited IPO GMP (Grey Market Premium)

(Live updates available on IPO Ji app)

GMP indicates listing sentiment but is unofficial. Historically:

• Positive GMP → strong listing
• Flat GMP → moderate listing
• Negative GMP → weak listing

For live GMP updates, check IPO Ji platform.

IPO Lot Size Breakdown

How to Apply for Rajputana Stainless Limited IPO

Step-by-Step Guide 

1️⃣ Login to your broker or IPO Ji app

2️⃣ Select “Rajputana Stainless Limited IPO”

3️⃣ Enter lot quantity (min 110 shares)

4️⃣ Select Cut-off price

5️⃣ Approve UPI mandate

6️⃣ Wait for allotment on 12 March 2026

You can also track allotment status directly on IPO Ji.

FAQs – Rajputana Stainless Limited IPO

1. What are the subscription dates for Rajputana Stainless Limited IPO?

Rajputana Stainless Limited IPO opens on 9 March 2026 and closes on 11 March 2026.

2. What is the price band of Rajputana Stainless Limited IPO?

The price band is fixed at ₹116 to ₹122 per share.

3. What is the minimum lot size and investment required?

The minimum lot size is 110 shares, requiring a minimum investment of ₹13,420 (at upper price band).

4. What is the total issue size of Rajputana Stainless Limited IPO?

The IPO size is ₹254.98 crore, comprising a fresh issue and an offer for sale (OFS).

5. When will Rajputana Stainless Limited IPO allotment be finalized?

The allotment is expected to be finalized on 12 March 2026.

6. When is the listing date of Rajputana Stainless Limited IPO?

The shares are tentatively scheduled to list on 16 March 2026 on BSE and NSE.

7. Where can I check Rajputana Stainless Limited IPO allotment status?

You can check the allotment status on:

• IPO Ji website
• IPO Ji mobile app
• Kfin Technologies registrar portal

8. What is the P/E ratio of Rajputana Stainless Limited IPO?

The post-issue P/E ratio is approximately 20.88x, based on updated EPS.

9. How will the company use IPO funds? 

The company plans to:

• Repay debt
• Fund capital expenditure for a seamless pipe facility
• Support general corporate purposes

10. Is Rajputana Stainless Limited IPO suitable for short-term listing gains?

Listing performance will depend on subscription demand, GMP trends, and market conditions at the time of listing.

11. What is the retail quota in Rajputana Stainless Limited IPO?

At least 35% of the net offer is reserved for retail investors.

12. How can I apply for Rajputana Stainless Limited IPO?

You can apply through:

• UPI via supported apps
• IPO Ji platform for tracking and alerts

Related IPOs 2026

• SEDEMAC Mechatronics IPO
• Upcoming SME IPOs March 2026
• Mainboard IPOs March 2026

For live GMP, subscription data, and allotment alerts — Download IPO Ji App today.

IPO Ji Website: https://www.ipoji.com

Android App: https://play.google.com/store/apps/details?id=com.ipoji.app

iOS App: https://apps.apple.com/in/app/ipo-ji-ipo-info-news-apply/id1545718736