New Delhi, 02 March (H.S.):

Stainless steel manufacturer Rajputana Stainless Limited will open its initial public offering (IPO) on March 9, with investors able to bid until March 11 at a price band of ₹116–₹122 per share. Shares are slated for listing on BSE and NSE on March 16.

Priced at a ₹10 face value, the book-built issue combines a fresh issuance of 1.47 crore shares—aiming to raise about ₹178.73 crore—and an offer for sale (OFS) of 0.63 crore shares worth ₹76.25 crore, totaling around ₹254.98 crore. Minimum bid: 110 equity shares (thereafter in multiples of 110), requiring at least ₹13,420 for retail investors.

Proceeds will bolster operations: ₹18.57 crore for a new stainless steel seamless pipes manufacturing unit to diversify the product portfolio; ₹98 crore for partial or full repayment of existing secured borrowings; and the balance for general corporate purposes.

Hindusthan Samachar / Jun Sarkar