Rajputana Stainless IPO Day 1 LIVE: Rajputana Stainless IPO opens on March 9 and close on March 11. Rajputana Stainless IPO comprises a fresh issuance of up to 1.46 crore equity shares alongside an offer-for-sale of up to 62.5 lakh shares from promoter Shankarlal Deepchand Mehta. This brings the total fundraising to ₹255 crore at the upper end of the price range.
The funds raised from the fresh issue will be utilized to establish a manufacturing facility in Panchmahal district, Gujarat, broaden the product range, pay off debt, and address general corporate needs.
Founded in 1991 as Rajputana Steel Castings, the company rebranded to Rajputana Stainless in 2007 following a strategic restructuring.
Rajputana Stainless IPO GMP today
Rajputana Stainless IPO GMP today is 2. Considering the upper end of the IPO price band and the current premium in the gray market, the estimated listing price of Rajputana Stainless shares is indicated as ₹124 apiece, which is 1.64% higher than the IPO price of ₹122.
(Stay tuned for more updates)
