Incorporated in 1991, Rajputana Stainless Limited is engaged in manufacturing long and flat stainless-steel products.
The company offers a range of stainless steel products, including billets, forging ingots, rolled black and bright bars, flat & patti, and other ancillary products, in over 80 diverse grades.
The company primarily sells its products domestically through direct sales and traders, while also exporting to five countries: UAE, USA, Turkey, Kuwait, and Poland.
The company uses its expertise and infrastructure to supply raw materials for various industries, including seamless pipes, aerospace, forging, oil and gas, defense, automotive, aviation, and precision engineering.
The company operates a manufacturing facility of 35,196.98 Sq.m in Kalol, Gujarat, equipped with an induction furnace, AOD, CCM, heat treatment facilities, rolling mill, and bright bar shop for efficient production.
Product Portfolio:
As of September 30, 2025, the company had 408 permanent employees and workers comprising skilled and unskilled workers.
Competitive Strengths:
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 448.80 | 420.36 | 324.01 | 297.34 |
| Total Income | 502.77 | 937.49 | 915.50 | 950.69 |
| Profit After Tax | 24.41 | 39.85 | 31.63 | 24.04 |
| EBITDA | 45.92 | 73.79 | 59.41 | 43.85 |
| NET Worth | 176.65 | 151.95 | 112.27 | 81.17 |
| Reserves and Surplus | 108.16 | 83.75 | 78.36 | 46.73 |
| Total Borrowing | 85.91 | 99.75 | 79.76 | 79.83 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirements for setting up of manufacturing facility for Stainless Steel Seamless Pipes to expand the product portfolio (“Proposed Facility”); | 18.57 |
| 2 | Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company; and | 98.00 |
| 3 | General corporate purposes |
| IPO Date | 9 to 11 Mar, 2026 |
| Listing Date | Mon, Mar 16, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹116 to ₹122 |
| Lot Size | 110 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,09,00,000 shares (agg. up to ₹255 Cr) |
| Fresh Issue | 1,46,50,000 shares (agg. up to ₹179 Cr) |
| Offer for Sale | 62,50,000 shares of ₹10 (agg. up to ₹76 Cr) |
| Share Holding Pre Issue | 6,89,17,658 shares |
| Share Holding Post Issue | 8,35,67,658 shares |
Shankarlal Deepchand Mehta, Babulal D Mehta, Jayesh Natvarlal Pithva and Yashkumar Shankarlal Mehta are the promoters of the company.
| Share Holding Pre Issue | 78.22% |
| Share Holding Post Issue | 57.01% |
As per our analysis and Based on the information we have, this is the output.
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