Rajputana Stainless IPO: GMP, Price, Review, and All Key Details
09 March 2026 ·
A complete guide to the Rajputana Stainless IPO including GMP today, share price expectations, IPO size, review, and company financial performance.
Introduction
The Rajputana Stainless IPO is attracting attention among investors in the Indian primary market. The company, which operates in the stainless steel manufacturing sector, is launching its public issue to raise funds for expansion and corporate purposes.
Investors tracking upcoming IPOs are actively searching for Rajputana Stainless IPO GMP today, Rajputana Stainless IPO review, and Rajputana Stainless IPO price band to evaluate the opportunity.
In this article, we explore everything about the IPO including the IPO size, share price, GMP, financial performance, and key company details to help readers understand the offering better.
About Rajputana Stainless Limited
Rajputana Stainless Limited, incorporated in 1991, is a manufacturer of long and flat stainless steel products used across several industries.
The company produces a wide range of stainless steel products in more than 80 grades, catering to sectors such as:
Aerospace
Oil and Gas
Automotive
Defense
Aviation
Precision Engineering
Seamless Pipe Manufacturing
Rajputana Stainless operates a manufacturing facility in Kalol, Gujarat, spread across 35,196.98 square meters.
The plant is equipped with modern production infrastructure including:
Induction furnace
Argon Oxygen Decarburization (AOD)
Continuous Casting Machine (CCM)
Heat treatment facilities
Rolling mill
Bright bar shop
As of September 30, 2025, the company had 408 permanent employees and workers.
Rajputana Stainless IPO Overview
| Component | Shares | Amount |
|---|---|---|
| Fresh Issue | 1.47 crore shares | ₹178.73 crore |
| Offer for Sale | 0.63 crore shares | ₹76.25 crore |
| Total Issue Size | 2.09 crore shares | ₹254.98 crore |
Rajputana Stainless IPO Key Details
| Particular | Details |
|---|---|
| IPO Opening Date | March 9, 2026 |
| IPO Closing Date | March 11, 2026 |
| Allotment Date | March 12, 2026 |
| Listing Date | March 16, 2026 |
| Price Band | ₹116 to ₹122 |
| Face Value | ₹10 per share |
| Lot Size | 110 shares |
| Issue Type | Bookbuilding IPO |
| Issue Size | ₹254.98 crore |
| Registrar | Kfin Technologies Ltd |
| Lead Manager | Nirbhay Capital Services Pvt Ltd |
Rajputana Stainless IPO GMP Today
The Grey Market Premium (GMP) is an unofficial indicator of investor sentiment toward an IPO before listing.
Investors frequently track Rajputana Stainless IPO GMP today to estimate possible listing gains.
While GMP fluctuates daily based on demand and market conditions, early trends in the grey market suggest moderate investor interest in the IPO.
However, it is important to note that GMP is not an official indicator and should not be the sole basis for investment decisions.
Rajputana Stainless Limited Turnover and Financials
| Period | Total Income | Profit After Tax | EBITDA |
|---|---|---|---|
| 2023 | 950.69 | 24.04 | 43.85 |
| 2024 | 915.50 | 31.63 | 59.41 |
| 2025 | 937.49 | 39.85 | 73.79 |
| Sep 2025 | 502.77 | 24.41 | 45.92 |
Rajputana Stainless IPO Lot Size and Investment Amount
| Category | Shares | Amount |
|---|---|---|
| Retail Minimum | 110 | ₹13,420 |
| Retail Maximum | 1,540 | ₹1,87,880 |
| sNII Minimum | 1,650 | ₹2,01,300 |
| bNII Minimum | 8,250 | ₹10,06,500 |
Rajputana Stainless IPO Reservation Details
| Category | Allocation |
|---|---|
| Qualified Institutional Buyers | 50% |
| Retail Investors | 35% |
| Non Institutional Investors | 15% |
Rajputana Stainless IPO Review
Market experts evaluating the Rajputana Stainless IPO review highlight both opportunities and concerns.
Positive Factors
Diversified stainless steel product portfolio
Established manufacturing infrastructure
Strong relationships with customers
Experience in multiple industrial sectors
Concerns
Cyclical nature of the steel industry
Raw material price volatility
Competition from established steel producers
The IPO appears positioned for investors interested in the industrial manufacturing sector, though valuation and market conditions will influence investor response.
Strengths of Rajputana Stainless Limited
Several operational advantages support the company’s business model.
1. Integrated Manufacturing Facility
The company operates a fully integrated plant capable of producing various stainless steel products.
2. Wide Product Portfolio
The company manufactures multiple products including:
Billets
Forging ingots
Bright bars
Hexagonal bars
Flat steel products
3. Diverse End-Use Industries
Rajputana Stainless serves several sectors including aerospace, defense, automotive, and oil & gas, reducing reliance on a single industry.
4. Export Presence
The company exports to several international markets including:
UAE
USA
Turkey
Kuwait
Poland
Risks to Consider
Investors should also evaluate potential risks before considering the IPO.
Commodity Price Volatility
Steel companies often face fluctuations in raw material prices.
Cyclical Industry
Demand for steel products tends to follow economic cycles.
Competition
The stainless steel sector includes many established players with strong market presence.
Conclusion
The Rajputana Stainless IPO offers investors exposure to a company operating in the stainless steel manufacturing sector with a diversified product portfolio and established infrastructure.
With an IPO size of ₹254.98 crore, a price band of ₹116 to ₹122, and listing planned on March 16, 2026, the issue has attracted interest from investors tracking manufacturing sector opportunities.
However, as with any IPO, investors should carefully evaluate the company’s financial performance, industry risks, and market conditions before making investment decisions.
Disclaimer
This article is for educational and informational purposes only. It does not constitute investment advice or a recommendation to subscribe to the IPO. Investors should conduct their own research and consult financial advisors before making investment decisions.