Ratnaveer Precision Engineering Limited IPO Detail
Incorporated in 2002, Ratnaveer Precision Engineering Limited manufactures stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes.
The company manufactures stainless steel-based products for 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 other industries.
Ratnaveer Precision Engineering has 4 manufacturing units out of which two units; Unit-I and Unit-II are located at GIDC, Savli, Vadodara, Gujarat, Unit-III is located at Waghodia, Vadodara, Gujarat, and Unit-IV is located at GIDC, Vatva, Ahmedabad, Gujarat. The company manufactures SS finishing sheets, SS washers, and SS solar mounting hooks at Unit I and SS pipes & tubes at Unit II. Unit III and Unit IV are dedicated to the backward integration process. Unit III is the melting unit where melted steel scrap is turned into steel ingots, and Unit IV is the rolling unit where flat ingots are further processed to turn them into SS sheets which are the raw material for SS washers.
Ratnaveer intends to expand its portfolio of SS washers by adding circlips to the product line, it currently offers over 2,500 SKUs of SS washers including inner ring washers, spring washers, nord lock washers, retaining rings, internal tooth washers and external tooth washers of different sizes and specifications. For this, the company has also taken land located at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat which is adjoining to Unit I, on a 99-year lease from GIDC.
In the fiscal year 2023, the company recorded a total revenue from operations of Rs. 4,797.30 million which includes a domestic turnover of Rs. 3,875.39 million and an export turnover of Rs. 921.91 million.
Company PromotersMr. Vijay Ramanlal Sanghavi is the company's promoter.
|IPO Opening Date||Sep 04, 2023|
|IPO Closing Date||Sep 06, 2023|
|Issue Type||Book Built Issue IPO|
|Face Value||₹10 per equity share|
|IPO Price||₹93 - 98 per equity share|
|Market Lot||150 Shares|
|Min Order Quantity||150 Shares|
|Listing At||BSE, NSE|
|Issue Size||₹165.03 Cr|
|Fresh Issue||₹135.24 Cr|
|Offer for Sale||₹29.79 Cr|
IPO Subscription (Bidding Detail)
IPO Tentative Timetable
The Ratnaveer Precision Engineering Limited IPO open date is Sep 04, 2023, and the close date is Sep 06, 2023. The issue may list on Sep 14, 2023.
|IPO Open Date||Sep 04, 2023|
|IPO Close Date||Sep 06, 2023|
|Basis of Allotment Date||Sep 08, 2023|
|Initiation of Refunds||Sep 12, 2023|
|Credit of Shares to Demat Account||Sep 13, 2023|
|IPO Listing Date||Sep 14, 2023|
IPO Lot Size
The Ratnaveer Precision Engineering Limited IPO market lot size is 150 shares. A retail-individual investor can apply for up to 13 lots (1950 shares or ₹191100).
IPO Promoter Holding
|Pre Issue Share Holding||86.3%|
|Post Issue Share Holding||55.48%|
For the year/period ended (₹ in Crore)
|Financial Year||Total Assets||Total Revenue||Profit After Tax|
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding the working capital requirements of the company.
- General corporate purposes
Ratnaveer Precision Engineering Limited IPO Registrar:
Link Intime India Private Ltd
Ratnaveer Precision Engineering Limited IPO Lead Manager(s):
Unistone Capital Pvt Ltd
Company Contact Information:
Ratnaveer Precision Engineering Limited
Plot no. E-77, G.I.D.C., Savli (Manjusar), Vadodara