Rajputana Stainless Limited, originally incorporated as Rajputana Steel Castings Private Limited on April 2, 1991, is a Gujarat-based manufacturer specializing in stainless-steel products. The company underwent transformations from its initial focus on mild steel and steel casting, transitioning into stainless-steel production between 1999 and 2006 as part of a revival strategy. This pivot improved its financial performance, removing it from the Non-BIFR Sick Unit list and positioning it as a viable enterprise under the Government of Gujarat's norms.
The company significantly enhanced its production capabilities starting in 2008 with the establishment of an induction furnace plant featuring a fully automated caster. Subsequent expansions included the addition of a bright bar shop with a 3,000 MT annual capacity in 2011, and an 18-inch rolling mill with a 5,000 MT annual capacity in 2012. Currently, Rajputana Stainless Limited manufactures a range of stainless-steel products, such as billets, forging ingots, rolled bars, flats, and ancillary products, at its state-of-the-art facility in Kalol, Panchmahal, Gujarat, spanning over 35,196 sq.m. The facility is equipped with advanced technology, including induction furnace, Argon Oxygen Decarbonizer (AOD), Continuous Casting Machine (CCM), and heat treatment units.
The company is poised for growth, planning an Initial Public Offering (IPO) of up to 2.25 crore equity shares. This comprises a fresh issue of 1.90 crore equity shares and 35 lakh equity shares through an offer for sale. With its well-established manufacturing infrastructure, Rajputana Stainless Limited's IPO represents an opportunity for traders seeking exposure to India's growing stainless-steel industry.
