Ahmedabad: Rajputana Stainless Limited has announced plans to launch its initial public offering (IPO) on March 9, 2026, aiming to raise about Rs.254.98 crore from the capital market.
The issue will remain open for subscription until March 11, 2026. The company has set a price band of Rs.116 to Rs.122 per share, with a minimum application size of 110 shares. At the upper end of the price band, retail investors would need to invest at least Rs.13,420.
According to the company, the share allotment is expected to be finalized on March 12, with listing on the BSE and NSE anticipated on March 16. Nirbhay Capital Services Private Limited is the book running lead manager for the issue, while Kfin Technology Limited is acting as the registrar.
The IPO comprises a fresh issue of 1.47 crore shares worth Rs.178.73 crore and an offer for sale of shares worth Rs.76.25 crore by promoters. The company said the proceeds from the fresh issue will be used to support expansion plans and debt reduction. About Rs.18.57 crore will be allocated for establishing a new manufacturing unit for stainless steel seamless pipes, while up to Rs.98 crore will be used to repay secured debt.
Established in 1991, Rajputana Stainless Limited manufactures long and flat stainless steel products under the brand RSL. Its product portfolio includes billets, forging ingots, rolled black bars, rolled bright bars, flats and coils, offered in more than 80 stainless steel grades.
The company operates primarily on a business-to-business model, supplying products used in industries such as seamless pipes, engineering, wire manufacturing, fasteners, casting, pumps and the automotive sector. It operates a manufacturing facility in Kalol, Gujarat, and exports products to markets including the United States, UAE, Turkey, Kuwait and Poland.
According to the company, it reported revenue of Rs.937.49 crore in FY25 and net profit of Rs.39.85 crore for the same period. As of September 2025, the company had a net worth of Rs.176.65 crore and employed more than 400 people.
