Kolkata: Till the end of the second day of the bidding process, Rajputana Stainless IPO was subscribed 0.42 times overall — 0.11 times in the retail category, 0.99 times in QIB category and 0.94 times in the NII category. The company manufactures long and flat stainless-steel products and its products includes billets, forging ingots, rolled black and bright bars, flat & patti, and other ancillary products. Rajputana Stainless sells its products both in India and in the UAE, the US, Turkey, Kuwait and Poland. It products are used in industries such as aerospace, forging, oil and gas, defense, automotive, aviation and precision engineering.

Rajputana Stainless IPO GMP

According to investorgain, Rajputana Stainless IPO GMP stood at Re 1 in early morning of March 11, the day of the bidding window closing. The highest GMP reached was Rs 2.5 and it happened on March 9. Considering the price band of Rs 122, the estimated listing price of Rajputana Stainless will be Rs 123 and the listing gain 0.82%. However, it must be remembered that GMP of Grey Market Premium is an unofficial indicator, which can be extremely volatile and which cannot guarantee any gain on listing.

Rajputana Stainless IPO price band, lot size

Rajputana Stainless IPO price band was set at Rs 116-122. For a retail investor, the minimum investible lot is 110 shares for which he/she has to arrange for an application amount of Rs 13,420 which is based on the upper price. For sNII investors, the minimum lot size is 15 lots or 1,650 shares, while for bNII investors, the lot size is 75 lots or 8,250 shares. Nirbhay Capital Services is the lead manager and Kfin Technologies the registrar of the issue.

Rajputana Stainless IPO key dates

Bid closes: March 11
Allotment: March 12
Refund: March 13
Credit of shares: March 13
Listing: March 16

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