Rajputana Stainless IPO subscribed 34% so far on Day 2: 10 key things retail investors should know

Rajputana Stainless IPO: The initial public offering of Rajputana Stainless has been subscribed 34% so far on the second day of bidding on Tuesday, March 10.

The IPO has received bids for 71,59,900 shares against 2,09,00,000 shares on offer, according to the NSE data until 1:19 pm. The qualified institutional buyers' (QIBs) portion has been subscribed 99%, while the non-institutional investors' (NIIs) part has been booked 71%. The quota reserved for retail investors has been subscribed 8%.

Rajputana Stainless IPO: 10 key things retail investors should know from RHP

• Rajputana Stainless IPO subscription period: The initial public offering is live from Monday, March 9, to Wednesday, March 11.
• IPO offer structure: The ₹254.98 crore book-building issue is a combination of a fresh issuance of shares worth ₹178.73 crore and an offer for sale (OFS) component of ₹76.25 crore.
• Rajputana Stainless IPO price band: The price range has been set at ₹116 to ₹122 per share.
• Rajputana Stainless IPO lot size: An application consists of 110 shares and multiples thereof.
• Reservation: The company has reserved 50% of the issue for qualified institutional buyers (QIBs), 15% for non-institutional investors, or NIIs, and 35% for retail individual investors (RIIs).
• Objectives: Under the OFS, promoter Shankarlal Deepchand Mehta is offloading his stake. The money raised will be used for capital expenditure requirements for expanding the existing manufacturing plant, debt clearance and general corporate purposes.
• Rajputana Stainless IPO financials: The company had posted a revenue of ₹932.15 crore and a profit after tax of ₹39.85 crore in the financial year 2024-25. In FY24, revenue and net profit stood at ₹909.80 crore and ₹31.62 crore.
• Book-running lead manager and registrar: Nirbhay Capital Services is the sole book-running lead manager to the issue, while KFin Technologies serves as the registrar.
• Rajputana Stainless IPO allotment date: The basis of allotment is likely to be finalised on March 12.
• Listing date: The listing on the National Stock Exchange (NSE) and the BSE will occur on March 16.

Rajputana Stainless IPO GMP

According to investorgain.com and media reports, Rajputana Stainless Ltd's unlisted shares are trading at ₹123.5, reflecting a grey market premium (GMP) of 1.23% compared to the upper price band of ₹122.