Rajputana Stainless Ltd. Set for IPO to Fuel Growth

Rajputana Stainless Ltd, based in Gujarat, has submitted papers for an IPO to raise funds. The offering includes new equity shares and shares for sale by a promoter. Funds will expand manufacturing for stainless-steel pipes, repay debt, and cover corporate costs. The company also exports to international markets.

Gujarat's Rajputana Stainless Ltd has submitted documents to SEBI, signaling its intent to raise funds through an IPO. The move includes issuing new equity shares alongside an Offer-For-Sale by promoter Shankarlal Deepchand Mehta.

Promoters currently hold a 78.21% stake in the company, while public shareholders maintain a 21.79% share.

Proceeds from the IPO will fund a new manufacturing unit for stainless-steel pipes, meet working capital needs, and repay existing debt. Rajputana, established in 1991, serves both domestic and international markets with its range of stainless-steel products.