The Ratnaveer Precision IPO commenced on September 4, 2023, and concluded on September 6, 2023. The allotment of shares took place on September 11, 2023, and the initiation of refunds began on September 12, 2023. The shares were credited to the demat accounts of investors on September 13, 2023. Finally, the listing of Ratnaveer Precision on the stock exchange occurred on September 14, 2023.
The Ratnaveer Precision IPO was priced at ₹93 to ₹98 per share, with a lot size of 150. The total issue size was ₹165.03 crores, comprising a fresh issue of ₹135.24 crores and an offer for sale of ₹29.79 crores. The IPO was listed on both the NSE and BSE.
In terms of quota reservations, the QIB (Qualified Institutional Buyers) quota was reserved for 50% of the shares, the NII (Non-Institutional Investors) quota was reserved for 15% of the shares, and the retail quota was reserved for 35% of the shares.
Ratnaveer Precision IPO Basic Details
|Company Name||Ratnaveer Precision Engineering Limited|
|Domain of Company||Manufacturing a wide range of|
stainless steel products
|Ratnaveer Precision IPO GMP Today||₹60|
|Ratnaveer Precision IPO Listing Gain||61.22%|
|Ratnaveer Precision IPO Open Date||September 4, 2023|
|Ratnaveer Precision IPO Close Date||September 6, 2023|
|Ratnaveer Precision IPO Allotment Date||September 11, 2023|
|Ratnaveer Precision IPO Listing Date||September 14, 2023|
|Face Value||₹10 per share|
|Price||₹93 to ₹98 per share|
|Lot Size||150 Shares|
|Issue Size||16,840,000 shares of ₹10|
(aggregating up to ₹165.03 Cr)
|Fresh Issue||13,800,000 shares of ₹10|
(aggregating up to ₹135.24 Cr)
|Offer for Sale||3,040,000 shares of ₹10|
(aggregating up to ₹29.79 Cr)
|Issue Type||Book Built Issue IPO|
|Listing At||NSE, BSE|
|Company Promoters||Vijay Ramanlal Sanghavi|
Ratnaveer Precision IPO GMP Today:
|Date||GMP||Listing Gain||Kostak||Subject to|
|6 September 2023||₹60||61.22%||–||–|
|5 September 2023||₹60||61.22%||–||–|
|4 September 2023||₹46||46.94%||–||–|
|3 September 2023||₹46||46.94%||–||–|
|2 September 2023||₹46||46.94%||–||–|
|1 September 2023||₹46||46.94%||–||–|
Ratnaveer Precision IPO Details:
Ratnaveer Precision Engineering Limited, established in 2002, specializes in manufacturing a wide range of stainless steel products, including finished sheets, washers, solar roofing hooks, pipes, and tubes.
Our stainless steel-based products cater to various industries such as 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 more.
We operate from four manufacturing units: Unit-I and Unit-II in GIDC, Savli, Vadodara, Gujarat, Unit-III in Waghodia, Vadodara, Gujarat, and Unit-IV in GIDC, Vatva, Ahmedabad, Gujarat. Unit I produces SS finishing sheets, SS washers, and SS solar mounting hooks, while Unit II manufactures SS pipes & tubes. Unit III handles the steel melting process, converting scrap into steel ingots, and Unit IV manages the rolling process, transforming ingots into SS sheets, the primary material for SS washers.
To enhance our SS washer product line, we plan to introduce circlips, expanding our current offering 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 of various sizes and specifications. We’ve secured land adjacent to Unit I at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat, on a 99-year lease from GIDC for this expansion.
In the fiscal year 2023, our company achieved a total revenue of Rs. 4,797.30 million, comprising a domestic turnover of Rs. 3,875.39 million and an export turnover of Rs. 921.91 million.
Ratnaveer Precision IPO More Details Click Here
Ratnaveer Precision IPO FAQs
When is Ratnaveer Precision IPO open?
Ratnaveer Precision IPO will open on 4 September 2023.
When is Ratnaveer Precision IPO Close?
Ratnaveer Precision IPO will be closed on 6 September 2023.
What is Ratnaveer Precision IPO GMP Today?
The Ratnaveer Precision IPO GMP aka Grey Market Premium is ₹60.
What is Ratnaveer Precision IPO Kostak Rates Today?
The Ratnaveer Precision IPO Kostak Rate is ₹000.
What is Ratnaveer Precision IPO Subject to Sauda Price Today?
The Ratnaveer Precision IPO subject to sauda rates is ₹000.
Ratnaveer Precision IPO Expected Returns?
The Ratnaveer Precision expected return is 61.22%.
How much will be the listing gain in Ratnaveer Precision IPO?
Ratnaveer Precision IPO will get listing gain of 61.22%. (Approx.)