Rajputana Stainless IPO Ends Day 3 with 1.12 Times Subscription

Rajputana Stainless Limited's initial public offering (IPO) closed its three-day subscription window at 1.12 times overall subscription by 4:44 PM on Day 3 (March 11, 2026). The ₹254.98 crore book-build issue, priced at ₹116–₹122 per share, received bids for 2,33,73,570 shares against 2,09,00,000 shares on offer, with total applications reaching 22,444.

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Subscription Status of Rajputana Stainless IPO

Here are the subscription details for Rajputana Stainless IPO as of Day 3, 4:54 PM:

Key Highlights – Day 3

• Overall subscription crossed full subscription at 1.12 times, surging from Day 2's 0.42 times on the final day.
• Non-institutional investors led at 2.59 times, with bNII showing strong demand at 3.74 times against sNII's 0.30 times.
• Qualified institutional buyers (ex-anchor) more than doubled to 2.51 times from Day 2's 0.99 times, indicating a sharp late surge in institutional interest.

Key Highlights – Day 2

• Overall subscription reached 0.42 times, improving from Day 1's 0.30 times.
• Non-institutional investors improved to 0.94 times from Day 1's 0.65 times, with bNII at 1.36 times and sNII at 0.11 times.
• Qualified institutional buyers (ex-anchor) held steady at 0.99 times, unchanged from Day 1.
• Retail investors improved to 0.11 times from Day 1's 0.04 times.

Key Highlights – Day 1

• Overall subscription reached 0.30 times, reflecting cautious initial investor interest in this stainless steel manufacturing IPO.
• Qualified institutional buyers (ex-anchor) showed near-full subscription at 0.99 times on the opening day.
• Non-institutional investors recorded 0.65 times, with bNII at 0.95 times and sNII at 0.05 times.
• Retail investors showed negligible participation at 0.04 times on Day 1.

About Rajputana Stainless Limited

Incorporated in 1991, Rajputana Stainless Limited manufactures long and flat stainless steel products across more than 80 grades, including billets, forging ingots, rolled black and bright bars, and flat and patti products. The company serves industries including aerospace, oil and gas, defence, automotive, and precision engineering, and exports to the UAE, USA, Turkey, Kuwait, and Poland.