IPO Details
Bidding Dates
04 Sep '23 - 06 Sep '23
Minimum Investment
₹14,700 / 1 Lots (150 Shares)
Price Range
₹93 - 98
Maximum Investment
₹191,100 / 13 Lots (1950 Shares)
Retail Discount
Not Applicable
Issue Size
₹165.03 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 4, 2023
IPO Closing Date
Sep 6, 2023
Basis of Allotment
Sep 11, 2023
Initiation of Refunds
Sep 12, 2023
Credit of Shares to Demat Account
Sep 13, 2023
IPO Listing Date
Sep 11, 2023
UPI Mandatory Expiry Date
Sep 6, 2023
About Ratnaveer Precision Engineering Ltd.
Gujarat-based Ratnaveer Precision Engineering Ltd is an engineering company engaged in manufacturing stainless steel products like finished sheets, washers, solar roofing hooks, pipes and tubes. It is one of the few companies that work in the backward integration model. The company has 4 manufacturing units - units I, II, and IV are engaged in backward integration, whereas unit III is used for melting steel scraps in making steel ingots.
The company’s products are used in automotive, solar energy, wind power, oil and gas, pharmaceuticals, instrumentations, etc. Their product portfolio includes 2,500 SKUs of washers.
Ratnaveer Precision Engineering Limited IPO Details
Ratnaveer Precision Engineering is a fresh issue and offer for sale worth ₹165.03 crore. The issue comprises 1,68,40,000 shares and is priced at ₹93 to ₹98 per share. Retail investors can bid for the Ratnaveer Precision Engineering Limited IPO, which will open on September 4, 2023. Ratnaveer Precision Engineering Limited’s IPO will list on NSE and BSE exchanges on September 11, 2023.
Ratnaveer Precision Engineering Limited IPO Objectives
The objectives of Ratnaveer Precision Engineering Limited's IPO are listed below:
- To fund the working capital requirements.
- To meet the general corporate purposes.
Noteworthy Highlights of Ratnaveer Precision Engineering Ltd
- Ratnaveer Precision Engineering has expanded to become a multi-product company from manufacturing a single product.
- The company operates on a synergetic, backwards-integrated business model.
Peer Details
Ratnaveer Precision Engineering faces competition from listed players like M.M. Forgings Limited, Menon Bearings Limited, and Venus Pipes & Tubes Limited.
Ratnaveer Precision Engineering Company Financials
| Particulars | Period ending on March 31, 2023 (₹ in million) | Period ending on March 31, 2022 (₹ in million) | Period ending on March 31, 2021 (₹ in million) |
|---|---|---|---|
| Total Income | 4,811.45 | 4,284.72 | 3,640.51 |
| Profit After Tax (PAT) | 250.44 | 94.76 | 54.59 |
| Net Worth | 1,060.54 | 659.74 | 565.77 |
| Earnings Per Share | 7.26 | 2.75 | 1.59 |
| Total Borrowings | 2,299.89 | 1,907.27 | 1,507.60 |
Know before investing
Strengths
2-
The company's net worth increased by 87.45% from ₹565.77 million on March 31, 2021, to ₹1,060.54 million on March 31, 2023.
-
The company’s profit after tax increased by 5 times from ₹54.59 million on March 31, 2021, to ₹250.44 million on March 31, 2023.
Risks
2-
The company didn’t enter into long-term agreements with its suppliers, which might result in disruption in raw material supply, affecting the operations.
-
The company is dependent on a few customers for revenue and does not hold any long-term agreements with the customers. Any disruptions in the current relations may affect the revenue adversely.
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Ratnaveer Precision Engineering IPO FAQs
The Ratnaveer Precision Engineering Ltd IPO contains both fresh issue and offer for sale worth ₹165.03 crore. The issue comprises 1,68,40,000 shares and is priced at ₹93 to ₹98 per share. The IPO will open on September 4, 2023.
The Basis of Allotment will happen on Monday, September 11, 2023.
The IPO subscription window will open on September 4, 2023.
Retail investors can apply for a minimum of one lot, which consists of 2,000 shares.
Ratnaveer Precision Engineering Ltd IPO will list on NSE and BSE exchanges on Thursday, September 11, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Thursday, September 11, 2023, for Ratnaveer Precision Engineering Ltd.
Listing gains cannot be measured before the listing of the IPO on the stock exchange.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
