About the Company
Rajputana Stainless Ltd makes stainless steel products like sheets, coils, pipes, and circles. It focuses on long and flat items used in construction, kitchenware, and machinery.
The company buys raw materials, processes them into finished steel goods, and sells to traders, manufacturers, and exporters mainly in India. Its business model involves cutting, polishing, and slitting steel at its plants.
READ FULL DRHP HERE: RAJPUTANA STAINLESS LTD DRHP
IPO Details
| Detail | Information |
|---|---|
| IPO Name | Rajputana Stainless Ltd IPO |
| Exchange | NSE / BSE (Mainboard) |
| IPO Type | Book Built |
| Issue Size | ₹255 Cr |
| Fresh Issue | ₹179 Cr |
| OFS | ₹76 Cr |
| Price Band | ₹116 – ₹122 |
| Lot Size | 110 shares |
| Minimum Investment | ₹12,760 |
| Listing Date | March 16, 2026 |
| Registrar | Kfin Technologies Ltd |
| Lead Managers | Not specified in sources |
| SME/Mainboard | Mainboard |
REGISTRAR: KFIN TECH ( CLIICK HERE)
How the Company Will Use IPO Money
₹18.57 Cr to set up a new factory for stainless steel seamless pipes to make more products. ₹98 Cr to pay off loans and reduce debt.
Rest for general business needs like day-to-day expenses.
Key Financial Metrics (Use DRHP Audited Financials)
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | Growing | Growing | Growing |
| EBITDA | Not detailed | Not detailed | Not detailed |
| EBITDA Margin | - | - | - |
| PAT | Positive trend | Positive trend | Positive trend |
| PAT Margin | - | - | - |
| EPS | - | - | - |
| Net Worth | Increasing | Increasing | Increasing |
| Debt | High initially | High initially | Targeted reduction |
| Debt-to-Equity Ratio | Elevated | Elevated | Improving post-IPO |
| ROE / ROCE | Strong potential | Strong potential | Strong potential |
| Assets / Liabilities | Expanding assets | Expanding assets | Expanding assets |
Financials show steady revenue growth and positive profits, with plans to cut debt via IPO funds. Trends are upward in sales and operations.
Strengths (Easy Language)
- Growing sales in stainless steel market.
- Own factories help control quality and costs.
- Wide product range for construction and industry.
- Debt reduction will strengthen balance sheet.
- Domestic market demand for steel products.
Key Concerns & Risks
- Steel prices swing with raw material costs like nickel.
- High competition from big steel makers.
- Current debt levels before repayment.
- Depends on imports for some raw materials.
- Promoter selling shares via OFS reduces stake.
IPO FAQS
What is an IPO?
- An IPO (Initial Public Offering) is when a private company sells its shares to the public for the first time to raise money.
- Example: If a well-known pizza company wants to grow, it can list its shares on the stock exchange so anyone can buy a piece of the company.
How can you apply for an IPO (using Zerodha or Upstox)?
- Make sure you have a Demat account and your bank account is linked.
- Steps:
- Log in to your broker’s app (e.g., Zerodha Kite, Upstox).
- Go to the IPO section.
- Select the company’s IPO you want to apply for.
- Enter how many shares (or ‘lots’) you want and the price you wish to bid.
- Enter your UPI ID, submit your application, and approve the UPI payment request.
How are IPO shares allotted?
- If more people want shares than are available, the company uses a lottery system to decide who gets them.
- If you don’t get shares, your money is simply returned.
What is GMP (Grey Market Premium)?
- GMP shows the extra price people are willing to pay for IPO shares before they officially start trading.
- Example: If IPO price is ₹100 and GMP is ₹20, people are unofficially ready to pay ₹120. It hints at the IPO’s popularity but isn’t a guarantee.
Where to check upcoming IPOs (IPO calendar)?
- Visit popular finance sites like Chittorgarh, IPOWatch, or official exchange websites (NSE, BSE) and look for the “Upcoming IPO” section.
What are IPO listing gains?
- If the share’s price rises on the first trading day, you can make instant profit.
- Example: You buy at ₹150, and it opens at ₹200, you gain ₹50 per share.
How can you make profit from an IPO?
- Quick gains on listing day (if the stock price goes up).
- Long-term: If the company grows, the share price could increase further.
Which IPO is best to buy?
- There is no single best IPO. Check the company’s background, current demand, and GMP, but always research before investing.
- High GMP or popularity doesn’t guarantee profits.
Are IPOs safe?
- IPOs can be profitable but also risky; prices can go up or down sharply.
- Only invest if you are ready for potential losses.
How to check IPO allotment status?
- After the IPO process, check on exchanges (BSE/NSE websites) or the IPO registrar’s site (like K-Fintech, Bigshare,or mufg-intime) by entering your PAN or application number to see if you got shares.
Important Tips for Retail Investors Applying for an IPO
- Use Only Your Own PAN Card:
Avoid using the same PAN card for multiple IPO applications. For example, if you have already applied using your PAN for one IPO, don’t try to apply again with the same PAN under different accounts or through others. - Apply in the Right Category:
Ensure you select the correct investor category (such as Retail Individual Investor) when filling out your application. Applying under a wrong category can lead to rejection or disqualification. - Maintain Sufficient Bank Balance:
Before applying, ensure your bank account linked to the application has enough funds to cover the full bid amount. For instance, if the IPO application requires a payment of ₹15000, make sure your account holds at least that amount. - Use Your Own Bank Account:
Always apply through your own bank account. Using someone else’s account can cause your application to be rejected during the verification process. - Avoid Last-Minute Applications:
Don’t wait until the deadline day or moments before to apply. Last-minute submissions may face technical glitches or processing delays, reducing the chances of success.