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Rajputana Stainless IPO Day 2: Issue subscribed 34% so far. Check GMP, review, key dates. Apply or skip?
Rajputana Stainless IPO Day 2: Rajputana Stainless IPO was 30% subscribed on its first day. The company aims to raise ₹255 crore. The public offering allocates shares for QIBs, NIIs, and retail investors. Provisional allotment is on March 12, with expected listing on March 16.
Rajputana Stainless IPO subscribed 30% on Day 1; QIB portion nearly full
The initial public offer of Rajputana Stainless Ltd, a manufacturer of long and flat stainless-steel products, got subscribed 30 per cent on the first day of bidding on Monday. The IPO received bids for 63,04,430 shares, as against 2,09,00,000 shares on offer, as per NSE data. The category for Qualified Institutional Buyers (QIBs) received 99 per cent subscription, while the quota for non-institutional investors fetched 65 per cent subscription. The portion for Retail Individual Investors (RIIs) got subscribed 4 per cent. 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, pat