Rajputana Stainless IPO allotment postponed, to take place on March 17; here is why

Rajputana Stainless IPO allotment, which was scheduled for March 12, has been postponed to Tuesday, March 17 after the company gave applicants the option to withdraw their bids on March 12, March 13 and March 16.

"We wish to bring to attention of the investors that all investors/bidders (all categories/sub categories), have an option to withdraw their Bids on March 12, 2026 (Thursday), March 13, 2026 (Friday) and March 16, 2026 (Monday) between 10:00 AM to 5:00 PM (Indian Standard Time) on the said days. The above-mentioned option to withdraw can be exercised by submitting a request for the same to the concerned Designated Intermediary, who shall assist in such withdrawal of Bid cum Application Form," the company said.

If the investors do not withdraw their bid within the mentioned period, such bids will be deemed to continue to remain valued and will be considered for allotment.

"Investors/bidders should note that bidding in the offer shall close on March 11, 2026 and accordingly no further bids will be accepted in the offer," the company said.

Rajputana Stainless IPO allotment and listing date (Revised)

• Basis of allotment: March 17
• Refund initiation: March 18
• Credit of shares to Demat account: March 18
• Listing on NSE and BSE: March 19

Rajputana Stainless IPO was seeking to raise ₹254.98 crore via a fresh issue of ₹178.73 crore and an offer for sale (OFS) of ₹76.25 crore by promoter Shankarlal Deepchand Mehta.

The money generated will be used for expansion of the existing manufacturing facility, debt repayment and general corporate purposes.

During the three-day subscription period, the issue was booked 1.12 times. It mobilised bids for 2,34,19,550 shares against 2,09,00,000 shares on offer, according to the consolidated data on NSE.

Rajputana Stainless is engaged in the manufacturing of flat and long stainless steel products, including rolled bright bar, rolled black bar, forging ingots, billets, and other ancillary products.