IPO News: 4 Companies Investors Should Track This Week

Overview:

• Rajputana Stainless is the largest IPO opening this week, aiming to raise Rs. 255 crores. With a relatively lower minimum retail investment of Rs. 13,420, listing is expected on March 16.

• Elfin Agro IPO closes today and requires a large minimum investment of Rs. 2,82,000 for retail investors. It is one of the most capital-heavy SME IPOs this week.

• Srinibas Pradhan Constructions shows the fastest financial growth among the active IPOs. The company’s revenue jumped more than 150% year-on-year between FY2024 and FY2025.

Three sectors, four companies, and a combined fundraise of over Rs. 300 crores, this week's IPO calendar is busier than it looks. One IPO closes today, one tomorrow, and the biggest of the lot opened just this morning. Miss the window, and you wait for allotment dates to pass you by. Whether you are putting in Rs. 13,000 or over Rs. 2 lakh, the numbers below will help you decide fast because some of these deadlines are hours away, not days.

Here is a quick breakdown of each IPO with the key numbers you need before putting in your application.

Rajputana Stainless IPO

This is the largest IPO to open this week. Rajputana Stainless is raising Rs. 255 crores through a combination of a fresh issue worth Rs. 178.73 crores and an offer for sale of 62.5 lakh equity shares. The price band is set at Rs. 116 to Rs. 122 per share, with a face value of Rs. 10.

The IPO opened on March 9 and closes on March 11. Allotment happens on March 12, with listing on BSE and NSE expected on March 16. For retail investors, the minimum lot size is 110 shares, which means a minimum investment of Rs. 13,420. You can go up to 14 lots (1,540 shares) for a maximum retail application of Rs. 1,87,880.

On the financial side, the company posted revenue of Rs. 937.49 crores in FY2025, up from Rs. 915.50 crores in FY2024. Net profit came in at Rs. 39.85 crores in FY2025 vs Rs. 31.63 crores the year before, a 26% jump. The EBITDA margin stands at 7.92%, PAT margin at 4.28%, and the debt-to-equity ratio is 0.66. ROE is at 30.17% and ROCE at 31.72%, both solid numbers for a manufacturing company. NAV is Rs. 22.05 per share.

The company, founded in 1991 and based in Kalol, Gujarat, makes stainless steel billets, bars, ingots, and flat products across 80+ grades. It exports to the UAE, USA, Turkey, Kuwait, and Poland. The QIB quota is 50%, retail is 35%, and HNI is 15%. Anchor bidding already took place on March 6, with 8.19 lakh shares allocated. The official review is neutral, suitable for long-term investors looking at the materials space.

Elfin Agro IPO

This one closes today, March 9. Elfin Agro is a BSE SME IPO raising Rs. 25.03 crores entirely through a fresh issue at a fixed price of Rs. 47 per share (face value Rs. 5). There is no offer for sale component. Allotment is on March 10, refunds on March 11, and the IPO lists on BSE SME on March 12.

The lot size here is unusually large, 6,000 shares minimum, which means a retail investment of Rs. 2,82,000. There are no multiple retail lots; the maximum retail application is also one lot of 6,000 shares for Rs. 2,82,000. HNI minimum starts at 9,000 shares (Rs. 4,23,000).

Revenue grew from Rs. 124.71 crores in FY2024 to Rs. 146.44 crores in FY2025, and profit rose from Rs. 3.68 crores to Rs. 5.08 crores over the same period. The P/E ratio is 13.05, EPS is Rs. 3.60, and the NAV is Rs. 9.77 per share. ROE is 36.86%, ROCE is 47.93%, and the debt-to-equity ratio is 0.88. EBITDA margin is 5.17%.

Elfin Agro, set up in 2009, is a Bhilwara-based flour and mustard oil company. It sells products under the ‘Shiv Nand’ and ‘ELFIN's Shri Shyam BHOG’ brands in Rajasthan, UP, and Gujarat. The investor split is 50% retail and 50% NII, no QIB quota. Since this closes today at 5 PM, applications need to go in before the cutoff.

Srinibas Pradhan Constructions IPO

This NSE SME IPO opened on March 6 and closes tomorrow, March 10. The company is raising Rs. 20.32 crores, Rs. 16.79 crores through a fresh issue and the rest via an offer for sale of 3.6 lakh shares. Price band is Rs. 91 to Rs. 98 per share (face value Rs. 10), and listing is set for March 13. Allotment is on March 11. Minimum lot is 2,400 shares at Rs. 2,35,200, and the retail cap is also one lot, so both minimum and maximum retail applications are the same.

The company's numbers show strong growth. Its revenue jumped from Rs. 35.27 crores in FY2024 to Rs. 89.73 crores in FY2025, a 154% increase. Net profit went from Rs. 3.55 crores to Rs. 6.59 crores. EPS is Rs. 11.33 (basic), EBITDA margin is 14.50%, and PAT margin is 7.34%. ROE comes in at 55.76% and ROCE at 71.01%. Debt-to-equity is 1.08, and NAV per share is Rs. 27.36.

Srinibas Pradhan Constructions, founded in 2020 and based in Jharsuguda, Odisha, works on roads, bridges, civil construction, and electricity infrastructure projects, mainly for government clients in Odisha. The QIB quota is 50%, retail 35%, and HNI 15%. Despite being a young company, the financial growth trajectory is one of the sharpest among the four IPOs this week. The review is neutral.

XED Executive Development IPO

XED Executive Development has filed its DRHP but the open and close dates, price band, lot size, and issue size are unknown so far. What is available is the financial track record, revenue grew from Rs. 33.19 crores in FY2024 to Rs. 38.90 crores in FY2025. Profit was Rs. 1.47 crores in FY2025, compared to just Rs. 0.11 crores the previous year. ROE is 60.68% and ROCE is 56.74%, both high for an education company.

The company, founded in 2015 and headquartered in Mumbai, provides executive education programs in partnership with Ivy League and global universities. It operates across 25 countries including India, the Middle East, Southeast Asia, and North America. It is set to list on NSE SME. Investors interested in this one should wait for the official announcement before making any move.

Also Read: IPO List for This Week: SEDEMAC Leads Early March 2026 Offerings

Investor Outlook

Among the three active IPOs this week, Rajputana Stainless is the only mainboard listing with a lower entry point (Rs. 13,420 minimum). Both Elfin Agro and Srinibas Pradhan require over Rs. 2 lakh for the minimum retail lot, making them better suited for investors with higher capital. Srinibas Pradhan has the strongest revenue growth on paper, while Elfin Agro offers the lowest P/E at 13.05x. Always check the GMP and subscription data before applying, and consider your investment horizon since all three are flagged for long-term investors.

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FAQs

1. Which IPOs are open for investors this week?

This week’s IPO lineup includes three active public issues and one upcoming listing. Rajputana Stainless opened on March 9 and closes on March 11. Elfin Agro closes on March 9, while Srinibas Pradhan Constructions will close on March 10. In addition, XED Executive Development has filed its draft papers but has not yet announced its IPO dates or price band.

2. What is the minimum investment required for these IPOs?

The minimum investment varies significantly between the IPOs this week. Rajputana Stainless has the lowest entry requirement at Rs. 13,420 for one retail lot of 110 shares. However, both Elfin Agro and Srinibas Pradhan Constructions require much higher investments of over Rs. 2 lakh for a single retail lot, which makes them more suitable for investors with larger capital.

3. Which IPO has the biggest issue size this week?

Rajputana Stainless has the largest issue size among the IPOs currently open this week. The company plans to raise around Rs. 255 crores through a mix of a fresh issue and an offer for sale. This makes it significantly larger than the SME IPOs of Elfin Agro and Srinibas Pradhan Constructions, which are raising Rs. 25.03 crores and Rs. 20.32 crores, respectively.

4. What does Rajputana Stainless do?

Rajputana Stainless is a manufacturing company that produces stainless steel products such as billets, bars, ingots, and flat steel materials. Founded in 1991 and based in Gujarat, the company supplies more than 80 different steel grades. It also exports to several international markets, including the United States, the UAE, Turkey, Kuwait, and Poland.

5. What should investors check before applying for an IPO?

Before applying for any IPO, investors should look at key details like the company’s revenue growth, profit margins, debt levels, and return ratios such as ROE and ROCE. It is also important to check the IPO price band, lot size, subscription demand, and grey market premium trends. These factors help investors decide whether the IPO fits their investment goals.