Rajputana Stainless IPO Subscribed 42% on Day 2

New Delhi, Mar 10 (PTI) The initial public offer of Rajputana Stainless Ltd, a manufacturer of long and flat stainless-steel products, got subscribed 42 per cent on the day two of bidding on Tuesday.

The IPO received bids for 88,17,270 shares, as against 2,09,00,000 shares on offer, as per data available with the NSE.

The category for Qualified Institutional Buyers (QIBs) fetched 99 per cent subscription. The quota for non-institutional investors got subscribed 94 per cent, and Retail Individual Investors (RIIs) received 11 per cent subscription.

The initial public offer has a fresh issue of up to 1,46,50,000 equity shares and an offer-for-sale of up to 62,50,000 equity shares.


Price range for the offer has been fixed at Rs 116-122 per share.

The IPO will conclude on Wednesday.

Rajputana Stainless has raised Rs 10 crore from anchor investor Shine Star Build Cap.

The firm manufactures a range of stainless-steel products, including billets, forging ingots, rolled black bars, rolled bright bars, flats, patti, and other ancillary products.