Rajputana Biodiesel's IPO received strong demand and was fully subscribed on its first day, November 26. The offering was oversubscribed by 16.53 times, with investors purchasing 2.28 crore equity shares out of an offer size of 13.85 lakh shares.

Retail investors showed significant interest, bidding 31.1 times their allotted quota, while non-institutional investors subscribed 13.16 times their reserved portion. However, the segment for qualified institutional buyers remains under-subscribed, with bids covering only 67 percent of their allocation.

The company aims to raise Rs 24.70 crore by issuing 19 lakh equity shares at a revised price band of Rs 123-130 per share. The Jaipur-based firm plans to use the IPO proceeds for expanding its manufacturing facility through its subsidiary, Nirvaanraj Energy, addressing working capital needs, and for general corporate purposes.