Rajputana Stainless applies for IPO, plans to arrange a brand new manufacturing plant – INA NEWS

Rajputana Stainless IPO: Rajputana Stainless goes to launch its IPO. The corporate has filed draft paper for this with market regulator SEBI. This Gujarat based mostly firm manufactures lengthy and flat stainless-steel merchandise. The corporate intends to lift funds for a brand new manufacturing facility and dealing capital necessities.

1.9 crore recent fairness shares will likely be issued below the IPO of Rajputana Stainless. Other than this, 35 lakh shares will likely be bought by means of Provide for Sale (OFS) by promoter Shankarlal Deepchand Mehta. Promoters together with Shankarlal Deepchand Mehta maintain 78.21 % stake in Rajputana Stainless, whereas 21.79 % shares are held by public shareholders.

The place will Rajputana Stainless use the funds?

The corporate is planning to arrange a producing facility for stainless-steel seamless pipes to develop its manufacturing capability and product portfolio. For this, it’s going to make the most of a complete of ₹18.3 crore from the web recent problem proceeds. Moreover, an funding of ₹37.68 crore will likely be made to fulfill the working capital necessities of the brand new facility.

Moreover, Rs 76.5 crore will likely be used to repay the mortgage. It had complete excellent borrowings of Rs 135.8 crore on the finish of October 2024. The remaining IPO funds will likely be used for normal company functions.

Enterprise of Rajputana Stainless

Rajputana Stainless manufactures lengthy and flat stainless-steel merchandise, together with billets, forging ingots, rolled black bars, rolled brilliant bars, flats and patties and different supporting merchandise. Allow us to let you know that stainless-steel comprises chromium, which types a protecting layer on iron. Attributable to this layer, stainless-steel is much less vulnerable to rust. Nirbhay Capital Providers has been appointed service provider banker for the general public problem.

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