Ratnaveer Precision Engineering IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Ratnaveer Precision Engineering IPO opens on September 4 and closes on September 6, 2023. According to the DRHP filed in SEBI, the company intends to raise approximately ₹ 165.03 crore through this public offering, consisting of 16,840,000 shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 93 to ₹ 98 per share.
Ratnaveer Precision Engineering Limited (“the Company”)
Incorporated in 2002. Ratnaveer Precision Engineering Limited is a stainless steel (“SS”) product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes, and tubes. Stainless steel is a value-added product with high corrosion-resistant properties. Higher levels of chromium and the addition of other alloy elements enhance the corrosion resistance. Compared to traditional steel, stainless steel has a higher resistance to corrosion, a superior aesthetic finish, and a longer life span. These features have helped increase the popularity of stainless steel across the world.
They operate out of four manufacturing units, out of which two are located at GIDC, Savli, Vadodara, Gujarat (Unit-I and Unit-II), one is located at Waghodia, Vadodara, Gujarat (Unit-III), and the other is located at GIDC, Vatva, Ahmedabad, Gujarat (Unit-IV). Its manufacturing units are strategically located with access to transportation, which facilitates convenient transportation of our products.
Company Key Metrics
| Earning Per Share (EPS) | ₹ 7.26 per Equity Share |
| ROE | 29.12% |
| ROCE | 12.62% |
| Return on Net Worth (RoNW) | 29.12% |
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Funding the working capital requirements of the company.
- General corporate purposes
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 106.05 | 65.97 | 56.58 |
| Total Assets | 389.05 | 308.63 | 255.92 |
| Reserve & Surplus | 71.16 | 61.71 | 52.32 |
| Total Borrowings | 229.99 | 190.73 | 150.76 |
| Total Revenue | 481.14 | 428.47 | 364.05 |
| Profit After Tax | 25.04 | 9.48 | 5.46 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 93 to ₹ 98 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 150 shares |
| Issue Size | 16,840,000 shares (aggregating up to ₹ 165.03 crores) |
| Fresh Issue | 13,800,000 shares (aggregating up to ₹ 135.24 crores) |
| Offer for Sale | 3,040,000 shares (aggregating up to ₹ 29.79 crores) |
| Listing At | NSE, BSE |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net offer |
| NII (HNI) shares offered | Not less than 15% of the offer |
| Retail shares offered | Not less than 35% of the offer |
GMP: Ratnaveer Precision Engineering IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Ratnaveer Precision Engineering IPO
The issue opens for subscription on September 4, 2023, and closes for subscription on September 6, 2023 (both days inclusive). The basis of allotment will be finalised on September 11, 2023, and the refunds will be initiated on September 12, 2023. In addition, the demat credits are expected to happen on September 13, 2023, and the stock will be listed on the NSE and BSE on September 14, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 4, 2023 |
| Closing Date | September 6, 2023 |
| Basis of Allotment | September 11, 2023 |
| Initiation of Refunds | September 12, 2023 |
| A credit of shares to Demat A/c | September 13, 2023 |
| Listing Date | September 14, 2023 |
Lot Size
The lot size of the Ratnaveer Precision Engineering IPO is 150 shares. A retail-individual investor can apply for up to 13 lots, i.e. 1,950 shares of ₹ 191,100.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 150 | ₹ 14,700 |
| Retail (Maximum) | 13 | 1,950 | ₹ 191,100 |
| S-HNI (Minimum) | 14 | 2,100 | ₹ 205,800 |
| S-HNI (Maximum) | 68 | 10,200 | ₹ 999,600 |
| B-HNI (Minimum) | 69 | 10,350 | ₹ 1,014,300 |
Promoters Holdings
Mr. Vijay Ramanlal Sanghavi is the promoters of the company.
| Pre-issue Shares Holdings | 86.03% |
| Post-issue Shares Holdings | 55.48% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Ratnaveer Precision Engineering Limited Plot no. E-77, G.I.D.C., Savli (Manjusar), Vadodara – 391 775 Phone: +91 8487878075 mail: cs@ratnaveer.com Website: https://ratnaveer.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: ratnaveerprecision.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
| IPO Lead Manager(s) | Unistone Capital Pvt Ltd |
FAQs
What is Ratnaveer Precision Engineering’s IPO price?
The Ratnaveer Precision Engineering IPO price is ₹ 93 to ₹ 98 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Ratnaveer Precision Engineering IPO contains 150 shares of ₹ 14,700.
When will the Ratnaveer Precision Engineering IPO allotment be available?
The finalisation of the basis of allotment for the Ratnaveer Precision Engineering IPO will be done on September 6, 2023, and the allotted shares will be credited to your demat account by September 13, 2023. Check the Ratnaveer Precision Engineering IPO allotment status.
When will the Ratnaveer Precision Engineering IPO list on exchanges?
The Ratnaveer Precision Engineering IPO shares listing date is September 14, 2023.
How many Ratnaveer Precision Engineering IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.
