Rajputana Stainless IPO Listing Today: Shares Debut At 2% Gain On BSE; Check Details

Shares of Rajputana Stainless made its debut on the stock exchanges on March 19. On BSE, shares of Rajputana Stainless listed nearly 2 per cent higher than the issue price. Ahead of the listing, the grey market premium (GMP) of the stock indicated around 2.5 per cent gain from the issue price at listing.

On the NSE, shares of Rajputana Stainless opened at Rs.122 apiece, same as upper end of the issue price band. Meanwhile on BSE, shares of the company opened at Rs. 123.95 per share, around 2 per cent higher than the issue price.

The listing date of Rajputana Stainless was deferred from March 16. The company initially attracted muted demand from investors, after which the company extended the bidding window till March 17, during which investors could also withdraw their bids.

At the end of the subscription window, the issue was booked 1.6 times, with investors across classes applying for 14.36 million shares. Non-institutional investors booked over 3 times their quota, applying for nearly 5.90 million shares. Qualified institutional buyers booked 2.7 times their quota, subscribing for 6.65 million shares. Meanwhile, retail individual investors booked only 40 per cent of their quota, applying for 1.83 million shares by the end of the issue. The share allotment of the IPO was finalised on March 17.

Rajputana Stainless IPO Details

Rajputana Stainless’ IPO was worth Rs. 254.98 crore through a book-build issue. The IPO included both fresh issue of 14.7 million equity shares and an offer-for-sale component of 6.3 million shares. In the primary market, shares were offered at a price band of Rs. 116-122 per share at a minimum lot size of 110 shares. The minimum investment amount for retail individual investors was Rs, 13,420 at the upper end of the price band.