Ratnaveer Precision Engineering Limited
IPO Details
Subscription
Lot Distribution
Reservation
Company Fin.
₹52.5(53.57%)
Premium (ELP)
The public market debut of Ratnaveer Precision Engineering Limited's was completed on Sep 11, 2023 with its listing on the NSE, BSE exchange. The IPO process raised 1,68,40,000 Shares in total capital, consisting of 1,38,00,000 Shares in new equity and ₹29.79 Cr in existing share sales through the OFS route.
The offering featured a price range of ₹93 to ₹98 and minimum application size of 150 shares. Investor response during the subscription period from Sep 04, 2023 to Sep 06, 2023 influenced the final allotment ratios across investor categories.
Final allotment was announced on Sep 08, 2023, distributing shares to successful subscribers. The listing established a continuous market for the company's shares, enabling liquidity, valuation transparency, and broader investor participation.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Ratnaveer Precision Engineering Limited, incorporated in 2002, manufactures stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes for industries including automotive, solar power, wind energy, power plants, oil & gas, pharmaceuticals, sanitary & plumbing, instrumentation, electromechanics, architecture, construction, electrical appliances, transportation, kitchen appliances, and chimney liners. The company operates four manufacturing units in Gujarat: Unit I and II at GIDC Savli (finished sheets, washers, solar hooks, and pipes/tubes), Unit III at Waghodia (melting unit), and Unit IV at GIDC Vatva (rolling unit). Ratnaveer offers over 2,500 SKUs of stainless steel washers and plans to expand into circlips, with additional land leased at GIDC Savli for expansion. In FY2023, the company recorded Rs. 4,797.30 million in revenue, comprising Rs. 3,875.39 million domestic and Rs. 921.91 million export turnover.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
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- Mr. Vijay Ramanlal Sanghavi
Ratnaveer Precision Engineering Limited
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