listed · IPO · BSE/NSE · listed 19 March 2026

Rajputana Stainless Limited

Raised ₹331.47 Cr at ₹122 per share.

-7.5%

listing-day move

Price band

₹116 – ₹122

Issue price

₹122

Issue size

₹331.47 Cr

Listing-day close

₹112.9

Return since listing

+4.15%

Company research

Source: Tijori Finance · third-party enrichment

About the company

Rajputana Stainless Limited, founded in 1991, manufactures long and flat stainless-steel products including billets, forging ingots, rolled black/bright bars, flats and patti under the RSL brand. It operates in the B2B manufacturing segment, supplying industries like pipes, forging, engineering and automotive.

Financials (₹ crore)

Period	Revenue	PAT	Debt
Mar 2023	947.67 Cr	24.04 Cr	79.83 Cr
Mar 2024	909.81 Cr	31.63 Cr	79.76 Cr
Mar 2025	932.16 Cr	39.85 Cr	99.75 Cr

Revenue mix

SS Black Bar 57.6%

SS Billet 17.1%

SS Bright Bar 15.4%

SS Flat & Patti 4.5%

SS Ingot 1.9%

Ferro Alloys 0.1%

Others 3.5%

Peer comparison

Company	Mkt cap (Cr)	Revenue	PAT	P/E	P/B
RSL	1,050	932 Cr	39.85 Cr	21.09	2.89
MUKANDLTD	2,022	4,889 Cr	75.89 Cr	3.35	1.33
PANCHMSTEL	594	383 Cr	3.33 Cr	—	3.94
MWL	1,140	1,060 Cr	29.48 Cr	22.76	3.8
ELECTHERM	986	4,115 Cr	442 Cr	—	0

Exchange filings

Fields captured from NSE and BSE

Issue information

Symbol: RSL
Issue period: 2026-03-09 to 2026-03-11
Price range: Rs.116 to Rs.122
DRHP: https://nsearchives.nseindia.com/corporate/phonrao_23062025173329_1NSEDRHP_Refiling.pdf
Red Herring Prospectus: https://www.bseindia.com/downloads/ipo/364486/IPO%20Open/6RHP_20260305174721.pdf
Prospectus: https://nsearchives.nseindia.com/corporate/FP_INE313L01016_18MAR2026.pdf

Data sources: BSE , BSE , MONEYCONTROL , NSE , YAHOO , NSE , NSE , NSE . Data quality clean.