Listing Details
- Listing Exchange BSE, NSE
- Listing Date 11-Sep-23
- IPO Price Range ₹98
- Listing Price ₹128
- Listing Change 30.6 %
- Last Traded Price ₹128.95
- Current Change 31.6 %
Ratnaveer IPO Details
- Open Date 04-Sep-23
- Close Date 06-Sep-23
- Lot Size 150
- IPO Size ₹ 165.03 Cr
- IPO Price Range ₹ 93 to ₹ 98
- Min Investment ₹ 13,950
- Listing Exchange BSE, NSE
- Basis of Allotment 11-Sep-23
- Refunds 12-Sep-23
- Credit to Demat Account 13-Sep-23
- Listing Date 14-Sep-23
Ratnaveer Precision Engineering IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 04-Sep-23 | 0.05 | 9.06 | 7.76 | 5.83 |
| 05-Sep-23 | 4.21 | 42.33 | 23.34 | 21.94 |
| 06-Sep-23 | 133.05 | 135.20 | 53.96 | 93.97 |
Ratnaveer IPO Synopsis
Ratnaveer Precision Engineering Limited IPO is all set to open from 4th September to 6th September 2023. The company is engaged in the business of manufacturing stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes. The IPO includes a fresh issue of 13,800,000 equity shares worth ₹135.24 cr and an Offer For Sale (OFS) of 3,040,000 equity shares worth ₹29.79 cr. The total issue size is ₹165.03 cr. The share allotment date is 11th September, and the IPO will be listed on 14th September on the stock exchanges. The price band is ₹93 to ₹98 per share and the lot size is 150 shares.
Unistone Capital Private Limited is the book-running lead manager for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of Ratnaveer Precision Engineering IPO:
Ratnaveer Precision Engineering Limited plans to utilize the raised capital from IPO to:
● Meet working capital requirements
● Fund general corporate purposes
Ratnaveer Precision Engineering IPO Video:
About Ratnaveer Precision Engineering
Established in 2002, Ratnaveer Precision Engineering Limited specializes in manufacturing stainless steel ("SS") products, including finished sheets, washers, solar roofing hooks, pipes, and tubes. The company's operations are spread across 4 manufacturing units. Two of these units, namely Unit-I and Unit-II, are located at GIDC, Savli, Vadodara, Gujarat. Another, designated as Unit-III, is located at Waghodia, Vadodara, Gujarat, while the fourth unit, Unit-IV, is positioned at GIDC, Vatva, Ahmedabad, Gujarat.
The diverse product range from Ratnaveer Precision Engineering is used in multiple industries, including automotive, solar power, wind energy, power plants, oil & gas, pharmaceuticals, sanitary & plumbing, instrumentation, electromechanics, architecture, building & construction, electrical appliances, transportation, kitchen appliances, and chimney liners. These products cater to both commercial and residential segments, being distributed within India as well as overseas.
Ratnaveer Precision Engineering plans to expand its collection of stainless-steel washers by including circlips in its offerings. At present, the company provides a diverse range of over 2,500 distinct stock-keeping units (SKUs) of stainless-steel washers. To facilitate this expansion, the company has already leased land at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat for a period of 99 years. It is also adjacent to Unit I.
Peer Comparison
● M.M. Forgings Limited
● Venus Pipes & Tubes Limited
● Menon Bearings Limited
For More Information:
Webstory on Ratnaveer Precision IPO
Ratnaveer Precision IPO GMP
Ratnaveer Precision Engineering Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue | 479.74 | 426.93 | 359.66 |
| EBITDA | 47.02 | 29.05 | 24.32 |
| PAT | 25.04 | 9.47 | 5.45 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 389.04 | 308.63 | 255.92 |
| Share Capital | 34.89 | 4.26 | 4.26 |
| Total Borrowings | 282.99 | 242.65 | 199.34 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | -14.33 | -15.50 | 12.93 |
| Net cash from / (used in) investing activities | -17.01 | -11.61 | -11.15 |
| Net cash flow from / (used in) financing activities | 42.03 | 28.04 | -0.998 |
| Net increase (decrease) in cash and cash equivalents | 10.67 | 0.92 | 0.78 |
Ratnaveer IPO Key Points
-
Strengths
1. The company has shown consistent financial performance.
2. One of the few companies that has a backward integration model, which has helped it maximize the returns on investments.
3. Products find application across various industries.
4. Diversified product mix and a wide customer base.
5. Experienced management team.
-
Risks
1. Market demand for steel, its volatility, and overall economic conditions can impact the company’s business.
2. Dependent on domestic sales in western and northern zones for revenue, which can create concentration risk.
3. Higher working capital requirements.
4. It is a high-volume, low-margin business.
5. Negative cash flow in the past.
6. Operates in a highly competitive industry.
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
Open account in 5 minutes
Be a part of the 5paisa community now with 10 million mobile app users
Ratnaveer IPO FAQs
What is the minimum lot size and investment required for the Ratnaveer Precision Engineering IPO?
The minimum lot size of Ratnaveer Precision Engineering IPO is 150 shares and the investment required is ₹13,950.
When does the Ratnaveer Precision Engineering IPO opens and closes?
Ratnaveer Precision Engineering IPO is open from 4th September to 6th September 2023.
What is the size of the Ratnaveer Precision Engineering IPO issue?
The total size of Ratnaveer Precision Engineering IPO is ₹165.03 cr.
What is the allotment date of the Ratnaveer Precision Engineering IPO?
The share allotment date of Ratnaveer Precision Engineering IPO is 11th September.
What is the Ratnaveer Precision Engineering IPO listing date?
The Ratnaveer Precision Engineering IPO will be listed on the 14th of September.
Who are the book runners for the Ratnaveer Precision Engineering IPO?
Unistone Capital Private Limited is the book-running lead manager for Ratnaveer Precision Engineering IPO.
What is the objective of Ratnaveer Precision Engineering IPO?
Ratnaveer Precision Engineering Limited plans to utilize the raised capital from IPO to:
1. Meet working capital requirements
2. Fund general corporate purposes
How to apply for the Ratnaveer Precision Engineering IPO?
To apply for Ratnaveer Precision Engineering IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Ratnaveer Precision Engineering Limited IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
● You will receive a mandate notification to block funds in your UPI app.
Contact Details of Ratnaveer Precision Engineering IPO
Contact Information
Ratnaveer Precision Engineering Limited
Plot no. E-77, G.I.D.C.,
Savli (Manjusar),
Vadodara - 391 775
Phone: +91 8487878075
Email: cs@ratnaveer.com
Website: https://ratnaveer.com/
Ratnaveer Precision Engineering IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ratnaveerprecision.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Ratnaveer Precision Engineering IPO Lead Manager
Unistone Capital Pvt Ltd.