Ratnaveer Precision Engineering IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Sep 06, 2023Founded on February 20, 2002, Ratnaveer Precision Engineering Limited is an unlisted public corporation. This review highlights the details of the recently announced news on the Ratnaveer Precision Engineering IPO.
Currently, the company has only filed for the DRHP with SEBI. Read ahead to know about the company, IPO details, GMP, Ratnaveer Precision Engineering IPO Review, and the market’s reaction to the upcoming IPO.
| Face Value | Rs 10 |
| Price Band | Rs 93 to Rs 98 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 150 Shares |
| Listing Date | September 14, 2023 |
| Offer for Sale | Rs 29.79 Crore |
| Fresh Issue | Rs 135.24 Crore |
| IPO Size | Rs 165.03 Crore |
| Tick Size | 1 |
Ratnaveer Precision Engineering IPO Overview
Ratnaveer Precision Engineering is a Gujrat -based company. The company manufactures stainless steel (“SS”) products such as finished sheets, washers, solar roofing hooks, pipes, and tubes.
Recently the company filed the draft red herring prospectus with the Securities and Exchange Board of India for the issue of initial public offerings. Through this Ratnaveer Precision Engineering IPO, the company aims to issue 1.7 crore equity shares.
Ratnaveer Precision Engineering IPO Important Dates
| Events | Date |
| IPO Opening Date | September 4, 2023 |
| IPO Closing Date | September 6, 2023 |
| Basis of Allotment Finalization | September 11, 2023 |
| Refunds Initiation | September 12, 2023 |
| Credit of Shares to Demat Account | September 13, 2023 |
| Share Listing Date | September 14, 2023 |
There is no relevant data around the bidding dates because the firm has recently filed for IPO DRHP. The open and close dates of subscription for the IPO are the bidding dates for any new investor.
After the bidding dates are the allotment dates and the refund deadlines. The refund date is the date when oversubscribed shares are reimbursed.
These Ratnaveer Precision Engineering IPO dates will be updated as they become available.
Ratnaveer Precision IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 93 to Rs 98 |
| Offer for Sale | Rs 29.79 Crore |
| Fresh Issue | Rs 135.24 Crore |
| IPO Size | Rs 165.03 Crore |
The Ratnaveer Precision Engineering IPO size will have a mix of fresh issues and offers for sale. The NSE and BSE stock markets will both list the offering.
Regarding the information on the issue size, as of right now, the DRHP has only made known that the firm plans to raise money through a fresh issue of up to 1.53 crore equity shares and an offer for the sale of 0.21 crore equity shares.
The offering will have a face value of Rs.10 per share. As the Ratnaveer Precision Engineering IPO price band gets revealed, the details will be shared in the above table.
Ratnaveer Precision Engineering IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Disclosed | |||
The grey market is not an authorized, regulated trading venue. Grey market trading in the context of IPOs refers to the buying and selling of future IPOs at a premium price over the price range.
The demand for firm shares in general is a factor in why investors frequently look to the grey market premium. If there is a lot of demand, the premium will climb, indicating that the shares are valuable enough to be purchased and sold at a premium.
As a result, a higher Ratnaveer Precision Engineering IPO GMP indicates that the upcoming IPO will be a wise investment.
Ratnaveer Precision Engineering IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 4th Sep | 0.05x | 9.10x | 7.84x | 5.88x |
| 2nd Day – 5th Sep | 4.21x | 42.33x | 23.34x | 21.94x |
| 3rd Day – 6th Sep | 133.05x | 135.21x | 53.99x | 93.98x |
| Shares Offered or Net Issue | 3,368,000 | 2,526,000 | 5,894,000 | 16,840,000 |
Investors can check the Ratnaveer Precision Engineering IPO Subscription status here once the offering is live to see how many shares are still up for a subscription.
The 3-day bidding dates are typically sufficient for oversubscription as well as a complete subscription.
Ratnaveer Precision Engineering IPO Allotment Status
The company has already decided on the allocation, which is as follows: 50% of the issued shares will be reserved for Qualified Institutional Buyers.
From the remaining, 35% will go to retail investors, with no more than 15% going to non-institutional investors or HNIs.
The Ratnaveer Precision Engineering IPO Allotment status will notify us of the company’s share distribution procedures to investors.
The oversubscribed shares might be either returned or distributed on a pro-rata basis. For up-to-the-minute information on the IPO’s allotment status, click here.
Ratnaveer Precision Engineering IPO Live Performance
The following link can be used to monitor the Ratnaveer Precision Engineering IPO performance of the equity shares in the trading market once it is launched.
This will also shed light on Ratnaveer Precision Engineering’s IPO share price.
Subscribe to Ratnaveer Precision Engineering IPO – Open Free Demat Account Now!
Latest Ratnaveer Precision IPO News
The sole Ratnaveer Precision Engineering IPO news that is now making the rounds, concerns the company’s application for its DRHP and its financial performance, both of which serve to secure investors’ interests.
Further speculation about the IPO will spread as more information about the processes is made public.
Ratnaveer Precision Engineering – Company Review
Ratnaveer Precision Engineering manufactures stainless steel (“SS”) products such as completed sheets, washers, solar roofing hooks, pipes, and tubes.
They have four production units, two of which are located at GIDC, Savli, Vadodara, Gujarat (Unit-I and Unit-II), one at Waghodia, Vadodara, Gujarat (Unit-III), and one at GIDC, Vatva, Ahmedabad, Gujarat (Unit-IV). Their manufacturing sites strategically position near transit, allowing for easy transportation of their products.
The funds receive from the IPO use to expand the company’s washer offering by adding circlips to the product line.
Products or Services
Ratnaveer Precision specializes in the production of finishing sheets, washers, and solar mounting hooks.
Its products are used in a variety of industries, such as the automotive, wind, solar, power, oil & gas, pharmaceutical, sanitary & plumbing, instrument, electromechanical, architectural, building & construction, electrical, kitchen, and transportation industries. Its goods are sold both domestically and abroad and are used in the commercial and residential sectors.
Promoters and Holding
The promoter of the company is Vijay Ramanlal Sanghavi (Managing Director and Chief Financial Officer).
Other key personnel:
- Babulal Sohanlal Chaplot (Whole time Director)
- Binita Verdia (Non-Executive Director)
And the registrar of the IPO is Link Intime India Private Limited.
Is Ratnaveer Precision Engineering good for Investment?
One of its main advantages is that Ratnaveer Precision is one of the few businesses with a backward integration model, which has enabled them to maximize its investment returns.
Along with this, it has the support of market leaders in different industries and is run by seasoned core management who have a clear vision for the company’s future and currently it is the upcoming Ratnaveer Precision Engineering IPO.
Ratnaveer Precision Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Assets | 3,890.48 | 3,086.32 | 2,559.24 |
| Revenue | 4,811.45 | 4,284.72 | 3,640.51 |
| Expense | 4,504.33 | 4,150.21 | 3,544.59 |
| Profit After Tax | 250.44 | 94.76 | 54.59 |
As the company prepares for the Ratnaveer Precision Engineering IPO, the company records an operating revenue increase significantly during the past year, rising from Rs.3,086.32 million to 3,890.48 million in 2023.
Its EBITDA has increased by 38.11% year on year. Simultaneously, its book net worth has climbed by 17.04%.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 7.26 | 2.75 | 1.59 |
Ratnaveer Precision Engineering IPO Review
Currently, the company has not specified explicitly the goal of the IPO. The information on it is provided below.
The Company intends to use the Net Funds from the new Issue to fund the following purposes:
- Financing the Company’s operating capital requirements; and
- Other corporate reasons
Regardless of the yet-to-be-disclosed agenda underlying the Ratnaveer Precision Engineering IPO, investors who participate in this IPO investment will be able to grow their investment and obtain higher returns.
Thus, keep monitoring the Ratnaveer Precision Engineering IPO Review for the most up-to-date information on the IPO dates, lot size, and price band.
Ratnaveer Precision Engineering IPO Details
Here are few more details you need to know before investing in Ratnaveer Precision Engineering IPO –
Ratnaveer Precision Engineering IPO Issue Object
The Ratnaveer Precision Engineering has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Funding organic growth initiatives
- Expanding Network Structures
- Building scales in existing business lines and developing new adjacent business lines
- Upgrading Logistics Operating System
- And for other corporate purposes
Ratnaveer Precision Engineering IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Wide product portfolio and multiple designs product enables us to serve diverse end-use applications.
- Experienced Promoter
- Synergy of young and experienced management team with a committed employee base
- Establish Presence in the international markets
- Strategically located manufacturing facilities with a core focus on quality;
- Quality Assurance and Quality Control of our products; and
- Growth led by continuous investment and R&D set up for new product development
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 7.26 | 29.12% | 30.74 |
| 31-Mar-22 | 2.75 | 15.46% | – |
| Mar-21 | 1.59 | 10.15% | – |
Ratnaveer Precision Engineering IPO Lead Managers
Here are the list of Lead managers –
- UNISTONE CAPITAL PRIVATE LIMITED
Ratnaveer Precision Engineering IPO Registrar to offer
Check out the details of the registrar here –
LINK INTIME INDIA PRIVATE LIMITED
C-101, 247 Park, 1st Floor L.B.S. Marg, Vikhroli West Mumbai 400 083, Maharashtra, India
Telephone: +91 8108114949
Facsimile: +91 22 49186195
Email: ratnaveerprecision.ipo@linkintime.co.in
Investor grievance email: ratnaveerprecision.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
Website: www.linkintime.co.in
SEBI Registration Number: INR000004058
CIN: U67190MH1999PTC118368
Ratnaveer Precision Engineering IPO – Other Details
- Statutory Auditor – M/s. Pankaj R. Shah & Associates
- Legal Counsel to the Company – M/s. Alliance Law
- Bankers to the Company – IndusInd Bank Limited
Ratnaveer Precision IPO Verdict by Stock Brokers
With experienced employees heading the company and the Ratnaveer Precision Engineering IPO listing, there is no question that the company will fare well in the future fiscal years.
Although not many analysts are providing feedback on this IPO, because the business is growing rapidly, there is a good probability that the investment will pay off.
Ratnaveer Precision Engineering IPO – Conclusion
Ratnaveer Precision Engineering offers numerous competitive advantages. They have a diverse clientele in several industries, and after many years of operation, they have many loyal consumers. Strong client relationships lead to consistent financial growth.
Despite these data points, it is still up to the investor to perform their research and trend checks before any significant investment. Hope the Ratnaveer Precision Engineering IPO review and news provided the necessary guidance.
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Ratnaveer Precision IPO Review FAQs
Check out the FAQs on Ratnaveer Precision Engineering IPO –
What is the Issue Size of Ratnaveer Precision IPO?
The Company is making an initial public offer of 16,840,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Ratnaveer Precision IPO?
The price band for this particular IPO ranges between Rs.93 to Rs 98. As far as the face value of the share is concerned, it is Rs.10 per share.
What is the Ratnaveer Precision IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on September 4, 2023, while the closing date is set at September 6, 2023.
What is the Ratnaveer Precision IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on September 11, 2023, refund initiation is on September 12, 2023, credit of shares is on September 13, 2023, and share listing date is on September 14, 2023.
What is the Ratnaveer Precision IPO Listing Date?
Shares of this company shall be listed in the exchanges on September 14, 2023. The date, when the listing would be done, is stagnant on September 14, 2023.
Who is the Registrar of Ratnaveer Precision IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Ltd. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Ratnaveer Precision IPO?
Here are the promoters of this IPO – VIJAY RAMANLAL SANGHAVI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Ratnaveer Precision IPO?
They have obtained the GMP of this IPO and it is Rs.NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Ratnaveer Precision IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Ratnaveer Precision Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 250.44, 2022 is 94.76, 2021 is 54.59.
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