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Ratnaveer Precision Engineering IPO is a book built issue of Rs 165.03 crores. The issue is a combination of fresh issue of 1.38 crore shares aggregating to Rs 135.24 crores and offer for sale of 0.3 crore shares aggregating to Rs 29.79 crores.
Ratnaveer Precision Engineering IPO bidding started from September 4, 2023 and ended on September 6, 2023. The allotment for Ratnaveer Precision Engineering IPO was finalized on Thursday, September 7, 2023. The shares got listed on BSE, NSE on September 11, 2023.
Ratnaveer Precision Engineering IPO price band is set at ₹93 to ₹98 per share. The minimum lot size for an application is 150 Shares. The minimum amount of investment required by retail investors is ₹14,700. The minimum lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹205,800, and for bNII, it is 69 lots (10,350 shares), amounting to ₹1,014,300.
Unistone Capital Pvt Ltd is the book running lead manager of the Ratnaveer Precision Engineering IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Ratnaveer Precision Engineering IPO RHP for detailed information.
| IPO Date | September 4, 2023 to September 6, 2023 |
| Listing Date | September 11, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹93 to ₹98 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 16,840,000 shares (aggregating up to ₹165.03 Cr) |
| Fresh Issue | 13,800,000 shares (aggregating up to ₹135.24 Cr) |
| Offer for Sale | 3,040,000 shares of ₹10 (aggregating up to ₹29.79 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 34,699,040 |
| Share holding post issue | 48,499,040 |
Ratnaveer Precision Engineering IPO offers 16,840,000 shares. 3,368,000 (20.00%) to QIB, 2,526,000 (15.00%) to NII, 5,894,000 (35.00%) to RII 5,052,000 (30.00%) to Anchor investors. 39,293 RIIs will receive minimum 150 shares and 400 (sNII) and 801 (bNII) will receive minimum 2,100 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 5,052,000 (30.00%) | NA |
| QIB Shares Offered | 3,368,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 2,526,000 (15.00%) | |
| bNII > ₹10L | 1,684,000 (10.00%) | 801 |
| sNII < ₹10L | 842,000 (5.00%) | 400 |
| Retail Shares Offered | 5,894,000 (35.00%) | 39,293 |
| Total Shares Offered | 16,840,000 (100%) |
Ratnaveer Precision Engineering IPO raises Rs 49.51 crore from anchor investors. Ratnaveer Precision Engineering IPO Anchor bid date is September 1, 2023. Ratnaveer Precision Engineering IPO Anchor Investors list
| Bid Date | September 1, 2023 |
| Shares Offered | 5,052,000 |
| Anchor Portion Size (In Cr.) | 49.51 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 7, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 6, 2023 |
Ratnaveer Precision Engineering IPO opens on September 4, 2023, and closes on September 6, 2023.
| IPO Open Date | Monday, September 4, 2023 |
| IPO Close Date | Wednesday, September 6, 2023 |
| Basis of Allotment | Thursday, September 7, 2023 |
| Initiation of Refunds | Friday, September 8, 2023 |
| Credit of Shares to Demat | Friday, September 8, 2023 |
| Listing Date | Monday, September 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 6, 2023 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,700 |
| Retail (Max) | 13 | 1950 | ₹191,100 |
| S-HNI (Min) | 14 | 2,100 | ₹205,800 |
| S-HNI (Max) | 68 | 10,200 | ₹999,600 |
| B-HNI (Min) | 69 | 10,350 | ₹1,014,300 |
| Lot Size Calculator | |||
Mr. Vijay Ramanlal Sanghavi is the company's promoter.
| Share Holding Pre Issue | 86.3% |
| Share Holding Post Issue | 55.48% |
Incorporated in 2002, Ratnaveer Precision Engineering Limited manufactures stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes.
The company manufactures stainless steel-based products for automotive, solar power, wind energy, power plants, oil & gas, pharmaceuticals, sanitary & plumbing, instrumentation, electromechanics, architecture, building & construction, electrical appliances, transportation, kitchen appliances, chimney liners, and other industries.
Ratnaveer Precision Engineering has 4 manufacturing units out of which two units; Unit-I and Unit-II are located at GIDC, Savli, Vadodara, Gujarat, Unit-III is located at Waghodia, Vadodara, Gujarat, and Unit-IV is located at GIDC, Vatva, Ahmedabad, Gujarat. The company manufactures SS finishing sheets, SS washers, and SS solar mounting hooks at Unit I and SS pipes & tubes at Unit II. Unit III and Unit IV are dedicated to the backward integration process. Unit III is the melting unit where melted steel scrap is turned into steel ingots, and Unit IV is the rolling unit where flat ingots are further processed to turn them into SS sheets which are the raw material for SS washers.
Ratnaveer intends to expand its portfolio of SS washers by adding circlips to the product line, it currently offers over 2,500 SKUs of SS washers including inner ring washers, spring washers, nord lock washers, retaining rings, internal tooth washers and external tooth washers of different sizes and specifications. For this, the company has also taken land located at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat which is adjoining to Unit I, on a 99-year lease from GIDC.
In the fiscal year 2023, the company recorded a total revenue from operations of Rs. 4,797.30 million which includes a domestic turnover of Rs. 3,875.39 million and an export turnover of Rs. 921.91 million.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 255.92 | 308.63 | 389.05 |
| Revenue | 364.05 | 428.47 | 481.14 |
| Profit After Tax | 5.46 | 9.48 | 25.04 |
| Net Worth | 56.58 | 65.97 | 106.05 |
| Reserves and Surplus | 52.32 | 61.71 | 71.16 |
| Total Borrowing | 150.76 | 190.73 | 229.99 |
The market capitalization of Ratnaveer Precision Engineering IPO is Rs 475.29 Cr.
| KPI | Values |
|---|---|
| ROE | 29.12% |
| ROCE | 12.62% |
| Debt/Equity | 2.17 |
| RoNW | 29.12% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.26 | |
| P/E (x) | 18.99 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is making strides in SS products with a high-margin portfolio. It has posted growth in its top and bottom lines for the reported periods. Based on FY23 earnings, the issue appears fully priced. Investors may consider parking funds for the medium to long-term rewards. Read detail review...
The Ratnaveer Precision Engineering IPO is subscribed 93.99 times on September 6, 2023 7:02:00 PM. The public issue subscribed 54.00 times in the retail category, 133.05 times in the QIB category, and 135.21 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 133.05 |
| NII | 135.21 |
| bNII (bids above ₹10L) | 130.63 |
| sNII (bids below ₹10L) | 144.37 |
| Retail | 54.00 |
| Total | 93.99 |
Total Application : 2,077,306 (52.87 times)
| Listing Date | September 11, 2023 |
| BSE Script Code | 543978 |
| NSE Symbol | RATNAVEER |
| ISIN | INE05CZ01011 |
| Final Issue Price | ₹98 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹98.00 |
| ₹128.00 |
| ₹123.00 |
| ₹134.40 |
| ₹134.40 |
| NSE |
|---|
| ₹98.00 |
| ₹123.20 |
| ₹123.00 |
| ₹129.35 |
| ₹129.35 |
Ratnaveer Precision Engineering Limited
Plot no. E-77, G.I.D.C.,
Savli (Manjusar),
Vadodara - 391 775
Phone: +91 8487878075
Email: cs@ratnaveer.com
Website: https://ratnaveer.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ratnaveerprecision.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Ratnaveer Precision Engineering IPO is a main-board IPO of 16,840,000 equity shares of the face value of ₹10 aggregating up to ₹165.03 Crores. The issue is priced at ₹93 to ₹98 per share. The minimum order quantity is 150 Shares.
The IPO opens on September 4, 2023, and closes on September 6, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ratnaveer Precision Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Ratnaveer Precision Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ratnaveer Precision Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ratnaveer Precision Engineering IPO opens on September 4, 2023 and closes on September 6, 2023.
Ratnaveer Precision Engineering IPO lot size is 150 Shares, and the minimum amount required is ₹14,700.
You can apply in Ratnaveer Precision Engineering IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Ratnaveer Precision Engineering IPO will be done on Thursday, September 7, 2023, and the allotted shares will be credited to your demat account by Friday, September 8, 2023. Check the Ratnaveer Precision Engineering IPO allotment status.
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