Rajputana Stainless IPO opens today: Should you subscribe?
Rajputana Stainless, a well-known stainless steel maker, has opened its IPO today aiming to raise ₹254.98 crore.
Shares are priced at ₹116-₹122 each, and you will need at least ₹13,420 to get started (that's 110 shares per lot).
Strong financial performance
Since 1991, Rajputana Stainless has been producing over 80 types of stainless steel products (think billets, rolled bars, and flats) at its large Gujarat facility.
Key details of the issue
The IPO closes March 11; the allotment date is not specified in the source, and listing is expected March 16 on the BSE and the NSE.
50% of the shares go to institutional investors; retail buyers like you get a 35% slice.
Out of the net fresh issue proceeds, ₹98 crore is intended for repayment/prepayment of borrowings and ₹18.57 crore for setting up a stainless-steel seamless-pipe manufacturing facility (totaling ₹116.57 crore).