SEBI Rules Violation: Rajputana Stainless Withdraws Anchor Book; Rs 255-Crore IPO Opens Today

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Rajputana Stainless IPO Opens Today After Anchor Book Withdrawal Over SEBI Rules

IPO News

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Moneycontrol•09-03-2026, 07:29

Rajputana Stainless IPO Opens Today After Anchor Book Withdrawal Over SEBI Rules

•Rajputana Stainless withdrew its anchor book for its Rs 255-crore IPO due to non-compliance with SEBI regulations.
•The company secured only one anchor investor, Shine Star Build Cap Private Limited, against the SEBI requirement of a minimum of two for IPOs up to Rs 250 crore.
•The IPO, with a price band of Rs 116-122 per share, opens today, March 9, and will close on March 11.
•Funds from the fresh issue will be used for facility expansion in Panchmahal, Gujarat, debt repayment, and general corporate purposes.
•Nirbhay Capital Services is the sole merchant banker for the Rajputana Stainless IPO.

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