Mumbai:  Rajputana Stainless Limited has fixed the price band of Rs 116 – to Rs 122 – per Equity Share of face value Rs 10/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, March 9, 2026, for subscription and close on Wednesday, March 11, 2026.

Investors can bid for a minimum of 110 Equity Shares and in multiples of 110 Equity Shares thereafter.

Equity shares outstanding as on date 6,89,17,658 Equity Shares of Rs 10 each.

The IPO is a fresh issue for up to 1,46,50,000 equity shares and an offer-for-sale for up to 62,50,000 shares by the promoter Selling Shareholder- Shankarlal Deepchand Mehta.

The proceeds from the fresh issue to the extent of Rs 18.57 crore will be for funding capital expenditure requirements for expansion of the existing manufacturing facility at Panchmahal district, Gujarat through forward integration and diversification of product portfolio i.e., Stainless Steel Seamless Pipes (“Proposed Facility”), Rs 98 crore for full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company, and general corporate purpose.

Nirbhay Capital Services Private Limited is the book-running lead manager; and KFin Technologies Limited is the registrar of the offer. The shares are proposed to be listed on the BSE and NSE.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.