The Ratnaveer Precision IPO started on September 4, 2023, and ended on September 6, 2023. Shares were allocated on September 11, 2023, and refund processes began on September 12, 2023. On September 13, 2023, the shares were credited to investors demat accounts. Ratnaveer Precision Engineering was officially listed on the stock exchange on September 14, 2023.
During the IPO, Ratnaveer Precision offered shares at a price range of ₹93 to ₹98 per share, and the lot size was 150 shares. The total issue size was ₹165.03 crores, with ₹135.24 crores from new shares and ₹29.79 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
Ratnaveer Precision IPO Subscription Update Video
Ratnaveer IPO Subscription Status
The Ratnaveer Precision IPO on September 6, 2023 was subscribed 93.99 times, with the retail category being subscribed 54.00 times, the NII (Non-Institutional Investor) category being subscribed 135.21 times, the QIB (Qualified-Institutional Buyers) category being subscribed 133.05 times.
| Category | Subscription |
| QIB | 133.05x |
| NII | 135.21x |
| Retail | 54.00x |
| Total | 93.99x |
Ratnaveer IPO Basic Details
| Company Name | Ratnaveer Precision Engineering Limited |
| Domain of Company | Manufacturing a wide range of stainless steel products |
| IPO Open Date | September 4, 2023 |
| IPO Close Date | September 6, 2023 |
| IPO Allotment Date | September 11, 2023 |
| 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 |
About Ratnaveer Precision Engineering Limited
Established in 2002, Ratnaveer Precision Engineering Limited is a company that specializes in manufacturing a wide range of stainless steel products. Their product lineup includes stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes.
They serve 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.
Ratnaveer Precision Engineering operates from four manufacturing units. Units I and II are situated in GIDC, Savli, Vadodara, Gujarat, where they produce SS finishing sheets, SS washers, and SS solar mounting hooks. Unit III, located in Waghodia, Vadodara, Gujarat, serves as the melting unit, transforming steel scrap into steel ingots. Unit IV, based in GIDC, Vatva, Ahmedabad, Gujarat, functions as the rolling unit, further processing flat ingots into SS sheets, which are used as raw material for SS washers.
In its pursuit of growth, Ratnaveer plans to expand its SS washers product line by introducing circlips. Currently, they offer a wide range of SS washers, boasting over 2,500 SKUs, including inner ring washers, spring washers, nord lock washers, retaining rings, internal tooth washers, and external tooth washers in various sizes and specifications. To support this expansion, the company has secured land at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat, under a 99-year lease from GIDC.
For the fiscal year 2023, Ratnaveer Precision Engineering reported 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.
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Ratnaveer Precision Engineering IPO FAQs
What is the start and end date of Ratnaveer Precision Engineering IPO Subscription?
The Ratnaveer Precision Engineering IPO started on September 4, 2023, and ended on September 6, 2023.
When does Ratnaveer Precision IPO Subscription open?
The Ratnaveer Precision IPO open on September 4, 2023.
When does Ratnaveer Precision IPO Subscription close?
The Ratnaveer Precision IPO Close on September 6, 2023.
What is the allotment date of Ratnaveer Precision IPO?
The allotment date for Ratnaveer Precision IPO is September 11, 2023.
When is the initial refund date of Ratnaveer Precision IPO?
The initial Refund date for Ratnaveer Precision IPO is September 12, 2023.
When were the shares credited to investors demat accounts for the Ratnaveer Precision IPO?
The shares for the Ratnaveer Precision IPO were credited to investors demat accounts on September 13, 2023.
When will Ratnaveer Precision IPO be listed on the stock market?
Ratnaveer Precision IPO stock market will be listed on September 14, 2023 at 10 am.
What was the price range of the Ratnaveer Precision IPO shares?
The Ratnaveer Precision IPO shares were offered at a price range of ₹93 to ₹98 per share.
What was the lot size for the Ratnaveer Precision IPO shares?
The lot size for the Ratnaveer Precision IPO shares was 150 shares.
What was the total issue size of the Ratnaveer Precision IPO?
The total issue size of the Ratnaveer Precision IPO was ₹165.03 crores.
How were the shares allocated among different types of investors for the Ratnaveer IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Ratnaveer IPO listed?
The Ratnaveer IPO was listed on both the NSE and BSE.
What is the Ratnaveer IPO Subscription Status?
Ratnaveer IPO is subscribed 00 Times.
