Ratnaveer Precision Engineering IPO Review

 
Ratnaveer Precision Engineering IPO Review

IPO Open Date: September 4, 2023

IPO Close Date: September 6, 2023

IPO Price: ₹93 to ₹98 per share

Lot Size: 150 Shares

Listing: September 11, 2023

Ratnaveer Precision Engineering



Ratnaveer Precision Engineering IPO is scheduled to hit the market on September 4, 2023 and close on September 6, 2023. Ratnaveer Precision Engineering plans to raise around ₹165.03 Cr through an IPO with a sale of up to 16,840,000 equity shares of ₹10 each. The retail quota is 35%, QIB is 20%, and HNI is 15%.

Established in 2002, Ratnaveer Precision Engineering Limited is a leading manufacturer of stainless steel products, including sheets, washers, solar roofing hooks, pipes, and tubes. Their versatile product range caters to various industries, such as automotive, solar power, pharmaceuticals, architecture, and more.

With four manufacturing units strategically located in Gujarat (Savli, Vadodara, Waghodia, and Vatva, Ahmedabad), Ratnaveer Precision Engineering specializes in different aspects of stainless steel production. Units I and II handle sheet finishing, washers, and solar hooks, while Unit III focuses on melting steel scrap into ingots, and Unit IV transforms flat ingots into stainless steel sheets used as raw material for washers.

Ratnaveer Precision Engineering IPO Details

Ratnaveer Precision Engineering IPO opens on Sept 4, 2023, and closes on Sep 6, 2023. The Listing date for Ratnaveer Precision Engineering IPO is on … 2023. The price band for IPO is ₹93 to ₹98 per share and lot size of 150 shares.

IPO DateSept 4, 2023 to Sep 6, 2023
Listing DateSept, 2023
Price₹93 to ₹98 per share
Lot Size150 Shares
Issue Size₹165.03 Cr
Face Value₹10 per share

Ratnaveer Precision Engineering IPO Tentative Timetable

Ratnaveer Precision Engineering opening date is September 4, 2023 and close date is September 6, 2023. The IPO allotment date is September 11, 2023. The refund initiation of IPO is on September 12, 2023. The credit of shares in demat account is on September 13, 2023. The listing date is on September 14, 2023.

EventDate
IPO OpeningSept 4, 2023
IPO ClosingSept 6, 2023
IPO Allotment DateSept 11, 2023
Refund InitiationSept 12, 2023
Shares Credit to DematSept 13, 2023
Lisiting DateSept 14, 2023

Ratnaveer Precision Engineering IPO Lot Size

Lot Size of this IPO is 150 shares. A retail-individual investor can apply for up to 13 lots (1950 shares or ₹191,100).

CategoryLotsSharesAmount
Retail(Minimum)1150₹14,700
Retail(Maximum)131950₹191,100
S-HNI (Minimum)142100₹205,800
B-HNI (Minimum)6910,350 ₹1,014,300

Ratnaveer Precision Engineering IPO Promoter Holding

Pre Issue Share Holding86.3%
Post Issue Share Holding55.48%

Ratnaveer Precision Engineering IPO Review

Ratnaveer Precision Engineering intends to expand its portfolio by adding circlips to its product line. Currently, the company offers over 2,500 SKUs of SS washers, including various types like inner ring washers, spring washers, nord lock washers, retaining rings, internal tooth washers, and external tooth washers of different sizes and specifications.

In fiscal year 2023, the company reported a total revenue from operations of ₹4,797.30 million, including a domestic turnover of ₹3,875.39 million and an export turnover of ₹921.91 million.
As of March 31, 2023, the company’s total assets were ₹389.05 Crores. Revenue for FY 2023 stood at ₹481.14 Crores. The company reported a profit of ₹25.04 Crores in FY 2023.

Ratnaveer Precision Engineering’s IPO offers potential investors an opportunity to participate in a company with a diverse product portfolio serving various industries. However, investors should carefully evaluate the valuation and the impact of the debt on the company’s financial health before making investment decisions.

Ratnaveer Precision Engineering IPO Subscription Status (Bidding Details)

InvestorSubscription
Qualified Institutions (QII)0
Non-Institutional Buyers0
  bNII (bids above ₹10L)0
  sNII (bids below ₹10L)0
Retail Investors(RII)0
Employees0
Others0
Total0

Ratnaveer Precision Engineering IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Ratnaveer Precision Engineering IPO FAQs

What is Ratnaveer Precision Engineering IPO?

Ratnaveer Precision Engineering is issuing 16,840,000 equity shares with a face value of ₹10 each, totaling up to ₹165.03 Cr. The shares are being offered at a price of ₹93 to ₹98 each, with a minimum order quantity of 10 shares.

Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Ratnaveer Precision Engineering IPO will open?

Ratnaveer Precision Engineering will open on September 4, 2023 for QIB, NII, and Retail Investors.

When Ratnaveer Precision Engineering IPO will end?

Ratnaveer Precision Engineering will end on September 6, 2023.

What is Ratnaveer Precision Engineering IPO Size?

Ratnaveer Precision Engineering IPO size is 165.03 Cr.

What is Ratnaveer Precision Engineering IPO Price Band?

Ratnaveer Precision Engineering price band is ₹93 to ₹98.

What is the Ratnaveer Precision Engineering IPO Allotment Date?

Ratnaveer Precision Engineering allotment date is 11 September 2023.

What is the Ratnaveer Precision Engineering IPO Listing Date?

Ratnaveer Precision Engineering listing date is 14 September 2023. The IPO is to be listed on BSE and NSE.

How to Apply Ratnaveer Precision Engineering IPO through Zerodha?

To apply for the IPO “Ratnaveer Precision Engineering” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don’t have one, open a demat account with Zerodha.

How to Apply Ratnaveer Precision Engineering IPO through Upstox?

To apply for the IPO “Ratnaveer Precision Engineering” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don’t have one, open a demat account with Upstox.

How to check Ratnaveer Precision Engineering IPO Allotment Status?

For Ratnaveer Precision Engineering IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Ratnaveer Precision Engineering IPO GMP?

You can check out here: Ratnaveer Precision Engineering IPO GMP

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