Rajputana Stainless has announced plans to launch its initial public offering in early March as the company seeks to raise capital for expansion and debt reduction. The Gujarat-based stainless steel manufacturer supplies products used in infrastructure, engineering and industrial applications.
The public issue will include both a fresh issue of shares and an offer-for-sale component by existing shareholders. At the upper end of the price band, the company could command a valuation of over Rs.1000 cr.
The management plans to deploy the fresh funds to expand production capacity and strengthen working capital requirements. With demand for stainless steel expected to grow alongside infrastructure development, the company is positioning itself to capture future opportunities in the sector.
