Select Page

Ratnaveer Precision Engineering IPO GMP, Price, Dates & Allotment Details 2023

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
ROE29.12%
ROCE12.62%
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:

  1. Funding the working capital requirements of the company.
  2. General corporate purposes

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth106.0565.9756.58
Total Assets389.05308.63255.92
Reserve & Surplus71.1661.7152.32
Total Borrowings229.99190.73150.76
Total Revenue481.14428.47364.05
Profit After Tax25.049.485.46
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 93 to ₹ 98 per share
Face Value₹ 10 per share
Market Lot150 shares
Issue Size16,840,000 shares (aggregating up to ₹ 165.03 crores)
Fresh Issue13,800,000 shares (aggregating up to ₹ 135.24 crores)
Offer for Sale3,040,000 shares (aggregating up to ₹ 29.79 crores)
Listing AtNSE, BSE

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot 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 DateSeptember 4, 2023
Closing DateSeptember 6, 2023
Basis of AllotmentSeptember 11, 2023
Initiation of RefundsSeptember 12, 2023
A credit of shares to Demat A/cSeptember 13, 2023
Listing DateSeptember 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.

ApplicationsLotsSharesAmount
Retail (Minimum)1150₹ 14,700
Retail (Maximum)131,950₹ 191,100
S-HNI (Minimum)142,100₹ 205,800
S-HNI (Maximum)6810,200₹ 999,600
B-HNI (Minimum)6910,350₹ 1,014,300

Promoters Holdings 

Mr. Vijay Ramanlal Sanghavi is the promoters of the company.

Pre-issue Shares Holdings86.03%
Post-issue Shares Holdings55.48%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationRatnaveer Precision Engineering Limited
Plot no. E-77, G.I.D.C., Savli (Manjusar), Vadodara – 391 775
Phone: +91 8487878075
mail: [email protected]
Website: https://ratnaveer.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/mipo/ipoallotment.html
IPO Lead Manager(s)Unistone Capital Pvt Ltd

FAQs

The Ratnaveer Precision Engineering IPO price is ₹ 93 to ₹ 98 per share.

The minimum investment size is one lot for retail investors. One lot of the Ratnaveer Precision Engineering IPO contains 150 shares of ₹ 14,700.

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.

The Ratnaveer Precision Engineering IPO shares listing date is September 14, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

Leave a reply

Your email address will not be published. Required fields are marked *

Current IPO (Main Board)

Issuer CompanyOpenClose
Tata Technologies Ltd.--
Plaza Wires Ltd.29-Sep-234-Oct-23
27-Sep-233-Oct-23
Updater Services Ltd.25-Sep-2327-Sep-23
JSW Infrastructure ltd.25-Sep-2327-Sep-23
22-Sep-2326-Sep-23
20-Sep-2322-Sep-23
20-Sep-2322-Sep-23
Yatra Online Ltd.15-Sep-2320-Sep-23
14-Sep-2318-Sep-23

SME IPO

Issuer CompanyOpenClose
Rajgor Castor Derivatives Ltd.17-Oct-2320-Oct-23
WomanCart Ltd.16-Oct-2318-Oct-23
12-Oct-2316-Oct-23
Committed Cargo Care Ltd.6-Oct-2310-Oct-23
29-Sep-234-Oct-23
Karnika Industries Ltd.29-Sep-234-Oct-23
Plada Infotech Services Ltd.29-Sep-234-Oct-23
29-Sep-234-Oct-23
29-Sep-234-Oct-23
Vivaa Tradecom Ltd.27-Sep-234-Oct-23

RECENT COMMENT