stainless steel IPO

Rajputana Stainless has resubmitted its IPO filings with an enhanced offer size. The funds will support expansion and help reduce its debt.

To raise funds through an initial public offering (IPO), Rajputana Stainless has resubmitted its draft documents to SEBI. The Gujarat-based company aims to set up a new facility and reduce its debt.

The revised IPO includes 2.09 crore shares in total. It consists of 1.46 crore fresh equity shares and 62.5 lakh shares under the offer-for-sale (OFS) by promoter Shankarlal Deepchand Mehta.

Earlier in December 2024, Rajputana Stainless had filed draft papers for a different offer. That plan included a fresh issue of 1.9 crore shares and an OFS of 35 lakh shares.

SEBI returned the previous draft offer on April 11 this year. Now, the company has revised its offer size to match regulatory and market expectations.

Rajputana Stainless manufactures long and flat stainless steel products. Flats, pattis, billets, forging ingots, rolled black bars, bright bars, and other materials make these up.

Stainless steel goods are renowned for their durability and resistance to corrosion. For vital industrial applications, Rajputana Stainless provides premium steel products.

The resubmitted IPO reflects the company’s ambition to strengthen its market position and expand. It also reduces its existing financial commitments.