Upcoming IPOs: Rajputana Stainless, Innovision, 2 other issues to open next week, 5 listings scheduled; check list

Upcoming IPOs: The week starting March 9 will see at least two mainboard initial public offerings (IPOs) open for subscription. They are Rajputana Stainless and Innovision. The Investment Trust (InvIT) IPO of Raajmarg Infra Investment Trust (RIIT) and the SME issue of Apsis Aerocom will also hit the primary market.

Listings scheduled for next week include SEDEMAC Mechatronics, Striders Impex, Acetech E-Commerce, Elfin Agro India and Srinibas Pradhan Constructions.

Rajputana Stainless IPO

The ₹254.98 crore Rajputana Stainless IPO is open from March 9 to March 11. The company has set a price band of ₹116 to ₹122 per share.

The initial share sale is a mix of a fresh issuance of ₹178.73 crore and an offer-for-sale of ₹76.25 crore by promoter Shankarlal Deepchand Mehta.

The money generated will be utilised to establish a manufacturing facility at Gujarat's Panchmahal, repay debt, expand its product portfolio and cover general corporate purposes.

Incorporated in 1991, Rajputana Stainless manufactures long and flat stainless-steel products, including billets, forging ingots and rolled black bars.

On the financial front, the company's revenue stood at ₹932 crore in the financial year 2024-25, as against ₹910 crore in FY24. Its net profit was ₹40 crore compared to ₹31.6 crore.

Innovision IPO

Manpower and toll plaza management services provider Innovision's ₹322.84 crore initial share sale will open for public subscription on March 10. The issue will end on March 12.

The price has been set in the range of ₹521 to ₹548 per share. The IPO is a mix of a fresh issuance of ₹255 crore and an OFS of ₹68 crore by promoters Randeep Hundal and Uday Pal Singh.

The fresh issue proceeds will be utilised for payment of debt, working capital needs and general corporate purposes.

The company specialises in offering manpower services, which include integrated facility management services and manned private security, as well as manpower sourcing and payroll management. It also provides toll plaza management services.

Raajmarg InvIT IPO

State-owned NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) set a price band of ₹99 to ₹100 per unit for its ₹6,000 crore IPO.

The InvIT's maiden issue will be live from March 11 to March 13.

The public InvIT seeks to unlock the monetisation potential of the National Highway assets while creating a high-quality, long-term investment instrument targeting retail and domestic investors.