New Delhi, March 5 -- The initial public offering (IPO) of Rajputana Stainless is set to open for public subscription on Monday, March 9, and will remain open till Wednesday, March 11. The Rs.254.98 crore book build issue is priced at Rs.116 to Rs.122 per share.

Rajputana Stainless IPO is a combination of fresh issue of 1,46,50,000 shares of face value of Rs.10 each and an offer for sale (OFS) of 62,50,000 shares of face value of Rs.10 each. From the fresh issue of shares, the company intends to raise Rs.178.73 crore, which it will utilise for the expansion of the existing manufacturing facility at Panchmahal, Gujarat, the payment of certain outstanding borrowings, and general corporate purposes.

Share allotment is expected to be finali...