Bookbuilding IPO | ₹165 Cr | Listed at BSE, NSE | Mon, Sep 4, 2023 - Wed, Sep 6, 2023
Ratnaveer Precision Engineering IPO is a book build issue of ₹165.03 crores. The issue is a combination of fresh issue of 1.38 crore shares aggregating to ₹135.24 crores and offer for sale of 0.30 crore shares aggregating to ₹29.79 crores.
Ratnaveer Precision Engineering IPO bidding started from Sep 4, 2023 and ended on Sep 6, 2023. The allotment for Ratnaveer Precision Engineering IPO was finalized on Sep 7, 2023. The shares got listed on BSE, NSE on Sep 11, 2023.
Ratnaveer Precision Engineering IPO price band is set at ₹98 per share. The lot size for an application is 150. The minimum amount of investment required by an retail is ₹14,700 (150 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹2,05,800, and for bNII, it is 69 lots (10,350 shares), amounting to ₹10,14,300.
Unistone Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Ratnaveer Precision Engineering IPO RHP for detailed Information.
IPO Open
Mon, Sep 4, 2023
IPO Close
Wed, Sep 6, 2023
Issue Price
₹98 per share
Market Cap (Pre-IPO)
₹475.29 Cr
| IPO Date | 4 to 6 Sep, 2023 |
| Listed on | Mon, Sep 11, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹93 to ₹98 |
| Issue Price | ₹98 per share |
| Lot Size | 150 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,68,40,000 shares (agg. up to ₹165 Cr) |
| Fresh Issue | 1,38,00,000 shares (agg. up to ₹135 Cr) |
| Offer for Sale | 30,40,000 shares of ₹10 (agg. up to ₹30 Cr) |
| Share Holding Post Issue | 4,84,99,040 shares |
| BSE Script Code / NSE Symbol | 543978 / RATNAVEER |
| ISIN | INE05CZ01011 |
Ratnaveer Precision Engineering IPO offers total 1,68,40,000 shares. Out of which 84,20,000 (50.00%) allocated to QIB, 33,68,000 (20.00%) allocated to QIB (Ex- Anchor), 25,26,000 (15.00%) allocated to NII 58,94,000 (35.00%) allocated to RII and 50,52,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 84,20,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 50,52,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 33,68,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 25,26,000 (15.00%) | NA |
| − bNII > ₹10L | 16,84,000 (10.00%) | 801 |
| − sNII < ₹10L | 8,42,000 (5.00%) | 400 |
| Retail Shares Offered | 58,94,000 (35.00%) | 39,293 |
| Total Shares Offered | 1,68,40,000 (100.00%) |
Investors can bid for a minimum of 150 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,700 |
| Retail (Max) | 13 | 1,950 | ₹1,91,100 |
| S-HNI (Min) | 14 | 2,100 | ₹2,05,800 |
| S-HNI (Max) | 68 | 10,200 | ₹9,99,600 |
| B-HNI (Min) | 69 | 10,350 | ₹10,14,300 |
Ratnaveer Precision Engineering IPO raises ₹49.51 crore from anchor investors. Ratnaveer Precision Engineering IPO Anchor bid date is September 1, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 1, 2023 |
| Shares Offered | 50,52,000 |
| Anchor Portion (₹ Cr.) | 49.51 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 7, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 6, 2023 |
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.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 389.05 | 308.63 | 255.92 |
| Total Income | 481.14 | 428.47 | 364.05 |
| Profit After Tax | 25.04 | 9.48 | 5.46 |
| NET Worth | 106.05 | 65.97 | 56.58 |
| Reserves and Surplus | 71.16 | 61.71 | 52.32 |
| Total Borrowing | 229.99 | 190.73 | 150.76 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of our Company; and | |
| 2 | General corporate purposes |
| KPI | |
|---|---|
| ROE | 29.12% |
| ROCE | 12.62% |
| Debt/Equity | 2.17 |
| RoNW | 29.12% |
| PAT Margin | 5.21% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.26 | |
| P/E (x) | 18.99 | |
| Promoter Holding | 86.3% | 55.48% |
| Market Cap | ₹475.29 Cr. |
The Ratnaveer Precision Engineering IPO is subscribed 93.99 times on September 6, 2023 7:02:00 PM (Day 3). The public issue subscribed 54 times in the retail category, 133.05 times in the QIB category, and 135.21 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 133.05 | 33,68,000 | 44,81,16,600 |
| NII | 135.21 | 25,26,000 | 34,15,43,700 |
| bNII (bids above ₹10L) | 130.63 | 16,84,000 | 21,99,82,050 |
| sNII (bids below ₹10L) | 144.37 | 8,42,000 | 12,15,61,650 |
| Retail | 54 | 58,94,000 | 31,83,04,500 |
| Total | 93.99 | 1,17,88,000 | 1,10,79,64,800 |
Total Application : 20,77,306
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM fees and underwriting commission | |
| 2 | Fees payable to registrars to the issue | |
| 3 | Fees payable to legal advisors and Advisor to the Offer | |
| 4 | Advertising and marketing expenses | |
| 5 | Fees payable to the Regulators including stock exchange | |
| 6 | Printing and distribution of issue stationary | |
| 7 | Brokerage and selling commission and bidding charges for members of the Syndicate, registered brokers, RTAs and CDPs | |
| 8 | Commission / processing fees to SCSBs and Banker to the Offer and fee payable to the Sponsor Banksfor bids made by RIBs using UPI | |
| 9 | Miscellaneous |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹98.00 | ₹98.00 |
| Open | ₹128.00 | ₹123.20 |
| Low | ₹123.00 | ₹123.00 |
| High | ₹134.40 | ₹129.35 |
| Last Trade | ₹134.40 | ₹129.35 |
Lead Manager Reports
Ratnaveer Precision Engineering IPO is a main-board IPO of 1,68,40,000 equity shares of the face value of ₹10 aggregating up to ₹165 Crores. The issue is priced at ₹98 per share. The minimum order quantity is 150.
The IPO opens on Mon, Sep 4, 2023, and closes on Wed, Sep 6, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ratnaveer Precision Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Ratnaveer Precision Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ratnaveer Precision Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ratnaveer Precision Engineering IPO opens on Mon, Sep 4, 2023 and closes on Wed, Sep 6, 2023.
Ratnaveer Precision Engineering IPO lot size is 150, and the minimum amount required for application is ₹14,700.
You can apply in Ratnaveer Precision Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ratnaveer Precision Engineering IPO will be done on Thursday, September 7, 2023, and the allotted shares will be credited to your demat account by Fri, Sep 8, 2023. Check the Ratnaveer Precision Engineering IPO allotment status.
The Ratnaveer Precision Engineering IPO listing date is on Mon, Sep 11, 2023.
