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Explore how Rajputana Stainless Ltd.’s IPO performed during its subscription period, including investor participation on the first day, price band details, key dates, and the step-by-step process to apply through ASBA or UPI.
The Rajputana Stainless Ltd. IPO opened for subscription on March 9, 2026, introducing the stainless steel manufacturing company to the primary market. The issue aims to raise ₹254.98 Crores through a book-built offering comprising a fresh issue and an offer for sale.
With operations in the stainless steel products segment, the IPO activity is being monitored by market participants tracking the metals and manufacturing sector. The shares are being offered within a price band of ₹116 to ₹122 per share.
The Rajputana Stainless Ltd. IPO opened to a cautious start on its first day of bidding. Early subscription data indicates limited participation across investor categories, with retail and non-institutional investors showing modest activity.
Market participants are closely monitoring the IPO’s progress over the remaining subscription days to see whether demand builds as the issue approaches its closing date.
On the first day of bidding, the Rajputana Stainless Ltd. IPO recorded an overall subscription of 0.21×. While Qualified Institutional Buyers (QIBs) led the participation among institutional categories, retail demand remained relatively subdued.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.59× |
Retail Individual Investors (RII) |
0.04× |
Non-Institutional Investors (NII) |
0.47× |
Total |
0.21× |
The early subscription trend reflects measured participation from investors on the opening day, with market watchers expecting potential momentum in the coming days as more bids are placed.
On the second day of bidding, the Rajputana Stainless Ltd. IPO continued to witness gradual participation from investors across categories. By Day 2, the issue was subscribed 0.30× overall, reflecting early-stage investor interest as the subscription window progressed.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.99x |
Retail Individual Investors (RII) |
0.04x |
Non-Institutional Investors (NII) |
0.65x |
Total |
0.30x |
The available subscription data indicates that Qualified Institutional Buyers and Non-Institutional Investors accounted for most of the bidding activity, while participation from retail investors remained limited at this stage. Subscription levels may continue to evolve as the IPO approaches its closing date and more investors place bids.
On the final day of bidding, the Rajputana Stainless Ltd. IPO saw an improvement in participation across investor categories. As per the latest available data, the issue was subscribed 0.47× overall, indicating gradual momentum as the IPO approached its closing date.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.99x |
Retail Individual Investors (RII) |
0.16x |
Non-Institutional Investors (NII) |
1.02x |
Total |
0.47x |
The Non-Institutional Investor segment led the subscription activity, crossing the 1× mark, while participation from retail investors remained relatively limited. Institutional demand stayed steady through the closing stage of the issue.
The price band for the Rajputana Stainless Ltd. IPO is set between ₹116 and ₹122 per share, with a face value of ₹10 per share
Investors can apply for a minimum lot size of 110 shares, and bids must be placed in multiples of this lot size thereafter..
| Investor Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
Retail (Minimum) |
1 |
110 |
₹13,420 |
Retail (Maximum) |
14 |
1,540 |
₹1,87,880 |
At the upper price band, the minimum investment required for retail investors is ₹13,420.
For detailed insights about the company, issue particulars, and the latest updates, visit the Rajputana Stainless IPO on Bajaj Markets.
The timeline below outlines the key stages in the IPO process, from subscription to listing.
| Event | Date | Details |
|---|---|---|
IPO Open Date |
March 9, 2026 |
Issue opens for subscription |
IPO Close Date |
March 11, 2026 |
Final day to submit bids |
Basis of Allotment |
March 12, 2026 |
Finalisation of share allotment |
Refunds Initiation |
March 13, 2026 |
Refunds begin for unallotted investors |
Credit of Shares to Demat |
March 13, 2026 |
Shares credited to successful applicants |
Listing Date |
March 16, 2026 |
Shares expected to list on NSE and BSE |
Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.
Investors can apply for the Rajputana Stainless Ltd. IPO through either the ASBA facility via net banking or UPI through broker platforms.
This is a convenient and secure method where your application amount stays blocked until shares are allotted.
Log in to your internet banking account.
Go to the ‘Investments’ or ‘IPO Application’ section.
Select ‘Rajputana Stainless Ltd. IPO’ from the available list.
Enter your preferred bid quantity and price.
Confirm and submit your application.
The bid amount will remain blocked in your account until allotment.
Upon allotment, the amount will be debited, and shares credited to your Demat account.
You can apply using UPI through your stockbroker’s or financial marketplace’s online platform.
Log in to your trading account or Demat account on your broker’s platform or financial marketplace.
Navigate to the IPO section and select ‘Rajputana Stainless Ltd. IPO’.
Enter your application details including number of lots and price.
Provide your UPI ID linked to your bank account.
Approve the UPI mandate request on your UPI app (like BHIM, Google Pay, or PhonePe).
Funds will be debited only upon share allotment.
Once allotted, shares will be credited directly to your Demat account.
You can check Upcoming Ipo’s Here : Upcoming Ipo
The information provided above is based on publicly available data from reliable financial news and market sources. Investors are advised to verify figures and consult financial experts before making investment decisions. Market conditions and subscription numbers are subject to change during the IPO window.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
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