Rajputana Stainless is a main board company with market cap of ₹ 1,483 Cr and sales of ₹ 1,082 Cr.
It came with an IPO with 14650000 share at a premium of Rs.112 per share of FV 10.
The co had issued three bonuses. enhancing their holding by 7x ( 3:2:; 1;1 and 1:1 before the public issue shares were allotted).
There are Three listed co’s in the style of Rajputana:
Rajputana Stainless
Rajputana Biodiesel Limited, and
Rajputana Investment & Finance Ltd
A closure scrutiny can not trace any relationship between the three.
Rajputana Stainless Limited
The disclosed promoters and key management include: Shankarlal Deepchand Mehta, Babulal D. Mehta, Jayesh Natvarlal Pithva, and Yashkumar Shankarlal Mehta. [rajputanas…inless.com], [thecompanycheck.com]
Rajputana Biodiesel Limited (SME)
The disclosed promoters/directors include: Sarthak Soni, Tanay Attar, Sudeep Soni, Madhuri Surana, Shrey Kastiya, and Palaash Gajria. The company states it was promoted by Sarthak Soni and Tanay Attar, with Sudeep Soni joining later.
Rajputana Fin is
in the business of pre-owned luxury cars and related activities at Kerala.
Historically, Rajputana is a historical region in northwestern India, meaning “Land of the Rajputs,” which largely corresponds to the modern-day state of Rajasthan. Formerly, Rajput states included northern, western, central and eastern India
Thus Rajputana Investment & Finance Ltd is leg out.
I feel the Rajputana Biodiesel Limited deserves a better look than the company in question, since corporate governance and other red flags are many staining the co..
to reproduce for Rajputana Stainless Limited
Regulatory & Corporate Governance Incidents
- SEBI Violation for “Unsolicited Emails”: During its March 2026 IPO, the Securities and Exchange Board of India (SEBI) stepped in after the company inadvertently distributed unauthorized promotional emails and video material. This forced management to delay share allotments and grant investors an emergency window to withdraw their bids. [1]
- Abrupt Anchor Book Collapse: The company failed to secure the minimum number of independent institutional backers required under regulatory rules. After only a single anchor entity stepped forward, management was forced to completely cancel its ₹10 crore anchor allocation portion right before the public issue opened.
- However, Rightly said.by @Tshab Goldman Sachs. Investments (Mauritius) I Ltd have upped their stake from 4.3% in March 2026 to 6.3% in June 26.
- Chalo, koi to laya chanda bahar se sck karne! :-)
what I do not additionally like is the Total Number of Customers Served that have reduced from 385 in March 2024 to 370 in March 2025.
