Rajputana Stainless to launch ₹255 crore IPO next week
Rajputana Stainless is heading to the stock market with its IPO, pricing shares between ₹116 and ₹122 each.
The issue opens March 9 and wraps up March 11, offering a total of 2.09 crore shares.
The company has proven delivery of over 500,000 metric tons
Rajputana Stainless operates a manufacturing facility in Kalol, Gujarat, and makes stainless steel products like billets and bars for industries ranging from aerospace to automotive.
They've recorded proven delivery of over 500,000 metric tons of stainless steel products, and they export to places like the UAE, USA, and Poland.
Funds raised will help pay off debt
The IPO includes a fresh issue worth ₹179 crore and an offer-for-sale by the promoter for ₹76 crore.
Funds raised will help pay off debt (₹98 crore) and set up a new seamless pipes facility (₹18.57 crore).
Nirbhay Capital is managing the process, with Kfin as registrar.