Ratnaveer Precision IPO Day 2 Subscription Status & GMP
The Ratnaveer Precision Engineering IPO has ignited investor enthusiasm, with subscription numbers soaring to remarkable heights on day 2. Subscriptions reached an astounding 21.78 times the initial offering. Here’s the latest scoop on this exciting development.
Ratnaveer Precision IPO Subscription: A Snapshot
The Ratnaveer Precision Engineering IPO, which welcomed subscriptions on September 4, is scheduled to close on September 6. On day 2, it saw an overwhelmingly positive response from retail investors, non-institutional investors (NIIs), and qualified institutional buyers (QIBs). In fact, all three segments were oversubscribed on the second day of subscription.
- Retail Investors: Subscribed 23.06 times
- Non-Institutional Investors (NIIs): Subscribed 42.23 times
- Qualified Institutional Buyers (QIBs): Subscribed 4.21 times
Ratnaveer Precision IPO Subscription Status in Detail:
The subscription status paints a vivid picture of investor interest:
- Total Bids: 25,67,88,900 shares against 1,17,88,000 shares on offer, according to BSE data.
- Retail Investors: Received bids for 13,59,34,350 shares against the available 58,94,000 shares.
- Non-Institutional Investors (NIIs): Received bids for 10,66,73,550 shares against 25,26,000 on offer.
- Qualified Institutional Buyers (QIBs): Received bids for 1,41,81,000 shares against 33,68,000 on offer.
It’s noteworthy that the subscription on day 1 was already impressive, with Ratnaveer IPO being subscribed 5.77 times.
Also Read: Ratnaveer Precision Engineering IPO Details | GMP, Date
Ratnaveer Precision IPO Details:
The Ratnaveer Precision Engineering IPO comprises a fresh issue of 13,800,000 shares, totaling ₹135.24 crore, and an offer for sale (OFS) of 3,040,000 shares at ₹10 each, amounting to ₹29.79 crore. The OFS is from promoter selling shareholder Vijay Ramanlal Sanghavi. The total issue size stands at ₹165.03 crores.
Proceeds from the fresh issue will be channeled into the company’s working capital requirements and general corporate purposes.
Anchor Investor Boost:
The IPO garnered significant support from anchor investors on September 1, raising approximately ₹49.5 crore. A total of 50,52,000 shares were allotted to anchor investors at a price of ₹98 per share.
Unistone Capital Private Ltd is serving as the BRLM (Book Running Lead Manager) for the offering, while Link Intime India Private Ltd has been appointed as the registrar.
Also Read: Ratnaveer Precision IPO Subscription Status (Live Data)
Ratnaveer Precision IPO GMP Today:
The Grey Market Premium (GMP) for Ratnaveer Precision IPO remains robust, currently standing at +48, consistent with the previous two trading sessions. This indicates that Ratnaveer Precision shares are trading at a premium of ₹48 in the grey market as of Tuesday, according to topsharebrokers.com.
Taking into account the upper end of the IPO price band and the current GMP, the estimated listing price for Ratnaveer Precision shares is ₹146 per share. This represents a substantial increase of 48.98% over the IPO price of ₹98.
According to topsharebrokers.com, GMP fluctuations range from a minimum of ₹0 to a maximum of ₹50.
About Ratnaveer Precision:
Established in 2002, Ratnaveer Precision Engineering Limited is a company that specializes in the production of various stainless steel (SS) products, including finished sheets, washers, solar roofing hooks, pipes, and tubes.
For more of the Latest News, Click Here
