Rajputana Stainless initial public offer (IPO) got subscribed 60 percent on the final day of bidding on Wednesday, so far. The manufacturer of long and flat stainless-steel products received bids for 1.24-crore shares, as against 2.09-crore shares on offer, as per data available with the NSE till 1 pm.
The category for Qualified Institutional Buyers (QIBs) fetched 1.02 times subscription. The quota for non-institutional investors got subscribed 1.39 times, and Retail Individual Investors (RIIs) received 19 percent subscription.
Price range for the offer has been fixed at Rs 116-122 per share. Earlier, it raised Rs 10 crore from anchor investor Shine Star Build Cap.
According to platforms tracking the grey market activities, the shares of the company are commanding a flat GMP in the unofficial market.
The firm manufactures a range of stainless-steel products, including billets, forging ingots, rolled black bars, rolled bright bars, flats, patti, and other ancillary products.
Rajputana Stainless IPO allotment is expected by March 12, while share listing is proposed on March 16.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
