New Delhi, March 4 -- Rajputana Stainless Ltd has set a price band of Rs.116-122 per share for its upcoming initial public offering (IPO), which aims to raise Rs.255 crore.

The company's first public offering is set to commence on March 9 and will close on March 11, as stated in their announcement.

The IPO consists of a fresh issuance of up to 1.46 crore equity shares along with an offer-for-sale of up to 62.5 lakh shares by promoter Shankarlal Deepchand Mehta, totaling to Rs.255 crore at the maximum price point.

Funds raised from the new issue will be utilised to establish a manufacturing facility in Panchmahal district, Gujarat, broaden the product range, pay off existing debt, and address general corporate needs.

Rajputana Stainles...