Ratnaveer Precision Engineering IPO Begins Next Week: GMP, Price Range, Dates And Other Details You Should Know

The Ratnaveer Precision Engineering IPO will open for subscription on Monday 4th September and close on Wednesday 6th September. Allocation to anchor investors for Ratnaveer Precision Engineering’s IPO is scheduled for Friday, September 1st. The Ratnaveer Precision Engineering IPO price range was set in the area in between ₹93 bis ₹98 per share with a par value of ₹10 each. The Ratnaveer IPO lot size is 150 shares and multiples of 150 shares thereafter.

The maximum price for the Ratnaveer Precision Engineering IPO must be at least 105% of the minimum price and not more than 120% of the minimum price. The reserve price must be determined and justified by the company and the selling shareholder in consultation with the book’s Running Lead Manager (BRLM), the company said in its Red Herring Prospectus (RHP).

Ratnaveer Precision Engineering IPO details

The Ratnaveer Precision Engineering IPO consists of an initial public offering of 13,800,000 shares with a total value of ₹The 135.24 crore stake and Offer for Sale (OFS) consists of 3,040,000 shares of ₹10 what is too aggregated ₹29.79 crore sold by promoter selling shareholder Vijay Ramanlal Sanghavi. The total issue size of the Ratnaveer IPO is ₹165.03 crores.

The net proceeds from the reissuance will be used to fund the Company’s working capital needs and general corporate purposes.

Unistone Capital Private Ltd is the BRLM of the Offering. Link Intime India Private Ltd is the registrar of the offer.

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Ratnaveer Precision Engineering Limited focuses on the manufacture of finished stainless steel sheets, washers, solar roof hooks, tubes and tubes.

The company stated in its RHP that it has four production units, two of which (Unit I and Unit II) are located in GIDC, Savli, Vadodara, Gujarat and one (Unit III) in Waghodia. Vadodara, Gujarat and the other (Unit IV) is located at GIDC, Vatva, Ahmedabad, Gujarat. The manufacturing facilities are strategically located and have transportation facilities, which facilitates the convenient transportation of their products.

“Our operating income has increased ₹821.23 million in fiscal 2011 ₹4,797.48 million in fiscal 2023, a CAGR of 14.54% over the past 13 years. Our after-tax profit also increased ₹15.42 million in fiscal 2011 ₹250.44 million in fiscal 2023, representing a CAGR of 23.92% over the past 13 years,” the company said in its RHP.

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Ratnaveer Precision Engineering IPO Dates

The basis for the allotment of shares in the Ratnaveer IPO will be determined on Monday September 11th and the Company will issue the refund on Tuesday September 12th with shares on Wednesday September 13th be credited to the demat account of the allotment recipients. Ratnaveer IPO shares are likely to be listed on the BSE and NSE on Thursday 14th September.

Ratnaveer Precision Engineering IPO GMP today

Ratnaveer IPO GMP today or gray market premium is +37 higher than in the previous trading session. This indicates that Ratnaveer Precision’s share price was trading at a premium of ₹37 in the gray market on Wednesday, according to topsharebrokers.com

Considering the high end of the IPO price range and the current gray market premium, the estimated quote price for Ratnaveer Precision stock is ₹135 per piece, which is 37.76% higher than the IPO price of ₹98

According to topsharebrokers.com, based on gray market activity for the past seven sessions, IPO GMP is pointing up today and expects a strong listing. The lowest GMP is ₹0 while the highest is GMP ₹37. Tuesday was the GMP ₹12.

“Grey market premium” indicates the willingness of investors to pay more than the issue price.

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