The IPO of Rajputana Stainless Ltd has opened today, aiming to raise ₹255 crore with a Grey Market Premium (GMP) of ₹2. The price band for the IPO is set between ₹116 to ₹122 per share, with the offering remaining open until 11 March 2026.

Rajputana Stainless plans to allocate ₹76 crore for Offer for Sale (OFS) and raise ₹179 crore through fresh shares. The lot size for the IPO is 110 shares, making it accessible for retail investors.

As of 12:42 PM on the first day of bidding, the public issue was subscribed 0.07 times overall, with the retail portion seeing a subscription rate of 0.03 times. The Non-Institutional Investors (NII) segment has a slightly higher subscription rate of 0.20 times.

The most likely date for share allocation is 12 March 2026, with the IPO proposed for listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 16 March 2026. KFin Technologies is the official registrar for this public issue.

Rajputana Stainless, incorporated in 1991, specializes in manufacturing long and flat stainless steel products. The company’s entry into the public market is seen as a significant step in its growth trajectory.

Observers are keenly watching the subscription trends as the IPO progresses, with expectations that interest may increase as more investors become aware of the offering. Details remain unconfirmed regarding the final subscription rates as the bidding period continues.

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