7 things to know before Ratnaveer Precision Engineering Limited IPO

ipo ratnaveer precision logo

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

Portfolio Expansion:

  • Ratnaveer intends to broaden its range of stainless steel (SS) washers by introducing circlips to its product line. Currently, the company offers an extensive selection of 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 in various sizes and specifications.

Land Acquisition for Expansion:

  • In preparation for this expansion, the company has acquired land located at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat. This land is adjacent to Unit I and is obtained on a 99-year lease from GIDC (Gujarat Industrial Development Corporation).

Financial Performance:

  • In the fiscal year 2023, the company reported a total revenue from operations of Rs. 4,797.30 million. This figure comprises a domestic turnover of Rs. 3,875.39 million and an export turnover of Rs. 921.91 million.

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 DateSeptember 4, 2023 to September 6, 2023
Listing DateThursday, September 14, 2023
Face Value₹10 per share
Price₹93 to ₹98 per share
Lot Size150 Shares
Total Issue Size16,840,000 shares
(aggregating up to ₹165.03 Cr)
Fresh Issue13,800,000 shares
(aggregating up to ₹135.24 Cr)
Offer for Sale3,040,000 shares of ₹10
(aggregating up to ₹29.79 Cr)

Ratnaveer Precision Engineering IPO Timetable (Tentative)

IPO Open DateMonday, September 4, 2023
IPO Close DateWednesday, September 6, 2023
Basis of AllotmentMonday, September 11, 2023
Initiation of RefundsTuesday, September 12, 2023
Credit of Shares to DematWednesday, September 13, 2023
Listing DateThursday, September 14, 2023
Cut-off time for UPI mandate confirmation5 PM on September 6, 2023

Key Performance Indicator

P/E (x)18.99
Market Cap (₹ Cr.)475.29
EPS (Rs)7.26

Ratnaveer Precision Engineering IPO Lot Size

Retail (Min)1150₹14,700
Retail (Max)131950₹191,100
S-HNI (Min)142,100₹205,800
S-HNI (Max)6810,200₹999,600
B-HNI (Min)6910,350₹1,014,300

Ratnaveer Precision Engineering IPO Promoter Holding

Mr. Vijay Ramanlal Sanghavi is the company’s promoter.

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

Financials of the Company:

Period Ended31 Mar 202131 Mar 202231 Mar 2023
Profit After Tax5.469.4825.04
Net Worth56.5865.97106.05
Reserves and Surplus52.3261.7171.16
Total Borrowing150.76190.73229.99
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:

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

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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