Rajputana Stainless Raises Rs 10 Cr from Anchor Investor; IPO Opens March 9

• Rajputana Stainless secured Rs 10 crore from anchor investor Shine Star Build Cap on March 6, ahead of its IPO.
• The IPO for the Gujarat-based company opens March 9 and closes March 11, with a price band of Rs 116-122 per share.
• The company allocated 8.19 lakh equity shares to Shine Star Build Cap at the upper price band.
• The Rs 254.98 crore IPO includes a fresh issue and an offer-for-sale of 2.09 crore shares.
• Proceeds will fund expansion at Panchmahal, Gujarat, for stainless steel seamless pipes, repay borrowings, and for general corporate purposes.