Table of Contents
Overview of IPO:
- Ratnaveer Precision Engineering Limited IPO was incorporated in 2002.
- The company specializes in manufacturing stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes.
- IPO looks promising.
Product Range:
- Ratnaveer Precision Engineering produces stainless steel-based products catering to a wide range of industries, including 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 others.
Manufacturing Units:
- The company operates four manufacturing units:
- Unit-I and Unit-II are located at GIDC, Savli, Vadodara, Gujarat, specializing in SS finishing sheets, SS washers, and SS solar mounting hooks (Unit I) and SS pipes & tubes (Unit II).
- Unit-III is situated at Waghodia, Vadodara, Gujarat, and functions as the melting unit where steel scrap is transformed into steel ingots.
- Unit-IV, located at GIDC, Vatva, Ahmedabad, Gujarat, serves as the rolling unit responsible for processing flat ingots into SS sheets, which are used as raw materials for SS washers.Read More
Ratnaveer Precision Engineering IPO Details
- The Ratnaveer Precision Engineering IPO is categorized as a Book Built Issue.
- The total issue size of the IPO is Rs 165.03 Crores.
- The Ratnaveer Precision Engineering IPO price range is set at ₹93 to ₹98 per share.
IPO Date September 4, 2023 to September 6, 2023 Listing Date Thursday, September 14, 2023 Face Value ₹10 per share Price ₹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)Ratnaveer Precision Engineering IPO Timetable (Tentative)
IPO Open Date Monday, September 4, 2023 IPO Close Date Wednesday, September 6, 2023 Basis of Allotment Monday, September 11, 2023 Initiation of Refunds Tuesday, September 12, 2023 Credit of Shares to Demat Wednesday, September 13, 2023 Listing Date Thursday, September 14, 2023 Cut-off time for UPI mandate confirmation 5 PM on September 6, 2023 Key Performance Indicator
KPI Values P/E (x) 18.99 Market Cap (₹ Cr.) 475.29 ROE 29.12% ROCE 12.62% Debt/Equity 2.17 EPS (Rs) 7.26 RoNW 29.12% Ratnaveer Precision Engineering IPO Lot Size
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 Ratnaveer Precision Engineering IPO Promoter Holding
Mr. Vijay Ramanlal Sanghavi is the company’s promoter.
Pre Issue Share Holding 86.3% Post Issue Share Holding 55.48% 
Financials of the Company:
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 Amount in ₹ Crore Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding the working capital requirements of the company.
- General corporate purposes
Ratnaveer Precision Engineering IPO Review (I have Applied)
The company is making significant progress in the stainless steel (SS) products segment, with a high-margin portfolio. It has consistently achieved growth in both its top and bottom lines for the reported periods. Given its strong FY23 earnings, the issue seems to be fully priced. Investors might contemplate investing for potential medium to long-term rewards.
Ratnaveer Precision Engineering IPO Subscription Status (Bidding Detail)
As of September 4, 2023, at 7:02 PM:
- The Ratnaveer Precision Engineering IPO has been subscribed 5.88 times in total.
- In the retail category, the subscription is 7.84 times.
- In the Qualified Institutional Buyer (QIB) category, the subscription is 0.05 times.
- In the Non-Institutional Investor (NII) category, the subscription is 9.10 times.
Check Day by Day Subscription Details (Live Status)
Ratnaveer Precision Engineering IPO GMP
- The last Grey Market Premium (GMP) for Ratnaveer Precision Engineering IPO was ₹48, last updated on September 4th, 2023, at 09:28 PM.
- With a price band of ₹98.00, the estimated listing price for Ratnaveer Precision Engineering IPO is ₹146 (cap price + today’s GMP).
- The expected percentage gain/loss per share is 48.98%.
Retail and Small HNI Subject to Sauda:
- Retail investors have a subject to Sauda of ₹5500 for Ratnaveer Precision Engineering IPO.
- Small High Net Worth Individuals (HNI) have a subject to Sauda of ₹77000 for the IPO.
check day by day GMP Details(Live Status)
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