Ratnaveer Precision share price surges 25.7% on NSE debut

Ratnaveer Precision share price surges 25.7% on NSE debut

Ratnaveer IPO Listing Date: Ratnaveer Precision Engineering Ltd’s eagerly awaited debut on the stock exchange brought exciting news for investors on Monday. The NSE witnessed Ratnaveer’s share price soaring to ₹123.20 per share, marking a remarkable 25.7% surge from its initial issue price. Meanwhile, the BSE recorded a listing price of ₹128 per share for Ratnaveer.

The journey began when Ratnaveer Precision Engineering IPO opened for subscription on Monday, September 4, and concluded on Wednesday, September 6. The IPO had already garnered substantial interest, securing an impressive ₹49.5 crore from anchor investors on Friday, September 1.

Ratnaveer IPO’s price band was thoughtfully set between ₹93 and ₹98 per equity share, each valued at ₹10. The IPO lot size was established at 150 equity shares, with the option to purchase in multiples of 150 equity shares thereafter.

Ratnaveer Precision IPO Details:

Ratnaveer Precision IPO comprises two segments: a fresh issue of 13,800,000 shares, amounting to ₹135.24 crore, and an offer for sale (OFS) portion of 3,040,000 shares, each priced at ₹10, totaling ₹29.79 crore, sold by the promoter selling shareholder Vijay Ramanlal Sanghavi. This amalgamates into a substantial total issue size of ₹165.03 crores.

The net proceeds derived from the fresh issue will be strategically utilized to bolster the company’s working capital requirements and support various general corporate endeavors.

Unistone Capital Private Ltd leads the way as the BRLM (Book Running Lead Manager) of this compelling offer, with Link Intime India Private Ltd acting as the dedicated registrar.

Ratnaveer Precision IPO GMP Today:

In an exhilarating development, Ratnaveer Precision IPO’s Grey Market Premium (GMP) today stands at an impressive +52, signifying a substantial increase from the previous trading session. This suggests that Ratnaveer Precision’s shares were commanding a premium of ₹52 in the grey market on Monday, according to insights from topsharebrokers.com.

Factoring in the upper end of the IPO price band and the current premium prevailing in the grey market, Ratnaveer Precision’s estimated listing price reached ₹150 per share, representing a significant surge of 53.06% above the IPO price of ₹98. This remarkable listing debut has certainly captivated the attention of market enthusiasts and investors alike.

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.

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