Rajputana Stainless IPO Day 3: Check subscription details, allotment date and steps

Rajputana Stainless IPO has been subscribed 47% so far on Wednesday, March 11, the final day of bidding. It has received bids for 97,86,150 shares as against 2,09,00,000 shares on offer, according to the NSE data until 11:14 am.

The qualified institutional buyers' (QIBs) quota has been booked 99%, while the non-institutional investors' (NIIs) portion has been subscribed 1.01 times. The category for retail individual investors (RIIs) was subscribed 15%.

The company aims to raise ₹254.98 crore via a fresh issue component of ₹178.73 crore and an offer for sale of ₹76.25 crore by promoter Shankarlal Deepchand Mehta. The price range has been set at ₹116 to ₹122 per share.

The fresh issue proceeds will be used for the following objectives:

• Fund capital expenditure requirements for expansion of the existing manufacturing facility in Gujarat through forward integration and diversification of the product portfolio.
• Repayment of certain outstanding borrowings by the company.
• Corporate general purposes.

Rajputana Stainless manufactures long and flat stainless steel products, including rolled black bar, rolled bright bar, billets, forging ingots and other ancillary products. It operates exclusively on a business-to-business (B2B) model.

Its products are utilised across a diverse range of industries, including seamless pipes, forging, bar processing, wire manufacturing, engineering, fasteners, utensil manufacturing, casting, pumps and shafts and the auto industry.

Rajputana Stainless IPO allotment and listing

The basis of allotment of Rajputana Stainless is expected to be finalised on March 12. The listing on the stock exchanges will occur on March 16.

How to check Rajputana Stainless IPO allotment status on NSE

• Open NSE's IPO allotment status website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Pick 'Equity & SME IPO bid details'
• Choose 'Rajputana Stainless' under the symbol 'RSL'
• Enter your PAN details and application number
• Hit the 'Submit' button

Steps to check Rajputana Stainless IPO allotment status on KFin Technologies

• Head to KFin Technologies' allotment page: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ dropdown menu, pick 'Rajputana Stainless Ltd'
• Add either your IPO application number, Demat account number or PAN
• Press the ‘Submit’ button

Rajputana Stainless IPO GMP

According to investorgain.com and media reports, Rajputana Stainless Ltd's unlisted shares are trading at ₹123, reflecting a grey market premium (GMP) of 0.82% compared to the upper price band of ₹122.