New Delhi, March 11 -- The initial public offering (IPO) of Rajputana Stainless opened for subscription on Monday, March 9 and will close today, March 11. The Rajputana Stainless price band has been set in the range of Rs.116-122 per share.

The company aims to raise Rs.255 crore from this IPO, which is a mix of fresh shares and an offer for sale (OFS). The issue is a combination of fresh issue of 1.47 crore shares worth Rs.178.73 crore and offer for sale of 0.63 crore shares by promoter Shankarlal Deepchand Mehta aggregating to Rs.76.25 crore.

The IPO allotment is expected tomorrow, March 12, while successful applicants are likely to receive their shares on Friday, March 13. Refunds for non-allottees will also be processed on the same d...