Rajputana Stainless Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Rajputana Stainless Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹122
Per ShareLot Size
110 Shares
Minimum Investment
₹13,420
Issue Size
₹254.98 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
63%
QIB Quota
10%
NII Quota
27%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Rajputana Stainless Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
78.22%
Promoter Holding (Post-Issue)
57.01%
Issue Type
Book Building
ISIN
INE313L01016
About the Company
We are engaged in the business of manufacturing of long and flat stainless-steel products comprising of billets, forging ingots, rolled black bar, rolled bright bar, flat & patti and other ancillary products under the brand name of "RSL". We offer our products in more than eighty (80) diverse grades of stainless steel.
Industry Overview
India is the second largest consumer and the third largest producer of stainless steel globally, with estimated installed capacity 6.6-6.8 Mn Tons, the country has the capability to manufacture a wide range of steel grades and products, including stainless-steel and special steel for diversified application. Talking about India's position in the global stainless-steel market, India with average 7% share in global SS steel output (during 2016-20), remained the second largest stainless-steel producer behind China till 2020. Due to this wide end consumer base, demand for long and flat steel products is closely linked to the overall all economic growth industrial as well as consumer demand scenario.
Company History
Our Company was incorporated as `Rajputana Steel Castings Private Limited' under the erstwhile Companies Act, 1956, pursuant to a certificate of incorporation dated on April 2, 1991, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, pursuant to a special resolution dated June 1, 2007, our Company was converted to a public limited company, and the name of our Company was changed from `Rajputana Steel Castings Private Limited' to `Rajputana Steel Castings Limited', and a fresh certificate of incorporation dated June 18, 2007, was issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Thereafter, the name of our Company was changed to `Rajputana Stainless Limited' and consequent to change in name, a fresh certificate of incorporation dated July 12, 2007, was issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli.
Products & Services
- The Company is engaged in the business of manufacturing of long and flat stainless-steel products comprising of billets, forging ingots, rolled black bar, rolled bright bar, flat & patti and other ancillary products under the brand name of "RSL".
Growth Strategy
- Setting up of Stainless-Steel Seamless Pipes Unit.
- Strengthening its foothold in its existing markets and expanding its customer base.
- Continue to improve operations and profitability through strategic initiatives.
- Continue its efforts towards training of manpower
- Focus on rationalizing its indebtedness.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 2,09,00,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Rajputana Stainless Limited ("The Company" or the "Issuer") for cash at a price of Rs. 122.00 per equity share (Including a Securities Premium of Rs. 112.00 per Equity Share) ("Offer Price") aggregating to Rs. 254.98 Crores comprising a fresh issue of 1,46,50,000 equity shares aggregating to Rs. 178.73 Crores by the company ("Fresh Issue") and an offer for sale of 62,50,000 equity shares aggregating to Rs. 76.25 Crores ("Offered Shares") by the promoter selling shareholder (The "Selling Shareholder" or "Promoter Selling Shareholder"), ("Offer for Sale", together with the fresh issue, the "Offer"). The offer will constitute 25.01% of the post-offer paid-up equity share capital of its company. Price Band: Rs. 122 per equity share of face value of Rs. 10/- each. The floor price is 12.20 times of the face value of the equity shares. Bids can be made for a minimum of 110 equity shares of face value of Rs. 10/- each and in multiples of 110 equity shares of face value of Rs. 10/- each thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Established, integrated manufacturing setup at strategic location.
- Diverse Product Portfolio.
- Established customer base and relationships.
- Promoters and Experienced Management Team.
- Track Record of healthy growth.
- The company derives a significant portion of the company's revenue from operations from its top 10 customers, and the company does not have long-term contracts with all these customers. If one or more such customers choose not to source their requirements from the company or to terminate its contracts or purchase orders, the company's business, cash flows, financial condition and results of operations may be adversely affected.
- The Company, Promoters, Directors, KMPs and SMPs are parties to certain legal proceedings. Litigations involving the Company aggregate amounting to Rs.12,861.77 Lakhs which is 72.81% of the company's net worth Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
- The company's Manufacturing Facility and Proposed Facility is located in Gujarat and therefore its operation is highly vulnerable to regional conditions and economic downturns in the region.
- The company relies substantially on the company's top 10 suppliers of the raw materials and work-in-progress goods used in the company's manufacturing processes. Any shortages, delay or disruption may have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- The company derives the majority of sales from the domestic market and a significant portion of the company's domestic sales are derived from the states of Maharashtra, Gujarat & Uttar Pradesh. Any adverse developments in this market could adversely affect its business.