Rajputana Stainless IPO GMP, Price Band, Subscription Status, Allotment Date

Rajputana Stainless IPO Analysis

Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.

Rajputana Stainless is a mainboard issue raising ₹255 Cr, offered in a band of ₹116–₹122 per share. At the upper end that is 12.2 times the ₹10 face value, so ₹112 of every share subscribed is share premium rather than capital.

A retail application for Rajputana Stainless needs one lot of 110 shares, which works out to ₹13,420 at the upper band of ₹122. That sits comfortably below the ₹15,000 retail lot ceiling, which keeps the entry cost modest for small investors. Retail applications are capped at ₹2,00,000, which here is 14 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 75 lots.

For Rajputana Stainless, bidding runs 9-11 March, allotment is finalised on 17 March 2026, the shares list on 19 March 2026. Applications that do not receive an allotment have their UPI mandate released around 6 days after the issue closes. Counting from the close of bidding, money stays blocked for roughly 8 days before listing decides what the holding is worth.

The issue is reserved 50% to qualified institutional buyers, 15% to non-institutional investors, 35% to retail. A 35% retail share is the wider end of the range, which improves the odds for small applications when the book is only modestly oversubscribed. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.

Subscription stands at 0.52x, which is below full. An issue must be subscribed at least once over to proceed at all; if it closes under that, the offer is withdrawn and all application money is refunded.

KFin Technologies Pvt. Ltd. is the registrar for this issue, which means the allotment status for Rajputana Stainless is published on their portal from 17 March 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.

A grey market premium of ₹3 on the upper band of ₹122 implies a listing gain of roughly 2.5%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.

This analysis is generated from the figures shown on this page and is for information only. It is not investment advice — read the RHP before you apply.