Ratnaveer Precision Engineering Limited IPO : Company Info.

Ratnaveer Precision Engineering Limited IPO is set to launch on 4 September, 2023. The company initiated its business operations in the year 2002. It manufactures stainless steel finished sheets, solar roofing hooks, washers, pipes and tubes. It supplies its products to various sectors such as solar power, automotive, power plants, wind energy, pharmaceuticals, oil and gas, electromechanics, sanitary and plumbing, instrumentation, electrical appliances, architecture, transportation, chimney liners, kitchen appliances, etc. It has four manufacturing units in Gujarat. The company has more than 2500 SKUs of SS washers.

Ratnaveer Precision Engineering Limited IPO DETAILS

Ratnaveer Precision Engineering Limited IPO is set to launch on 4 September, 2023. The subscription timeline extends till 6 September, 2023. The size for the IPO is 165.03 Crore Rs. Shares issued through fresh issue mode are worth 135.24 Crore Rs. Shares issued through offer for sale mode are worth Rs 29.79 Crore. The lot size is 150 shares and the price is 93 to 98 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.

Tabular Description of Ratnaveer Precision Engineering Limited IPO 

IPO OPENING DATE 4 September, 2023
CLOSING DATE FOR IPO 6 September, 2023
ISSUE TYPE Book Built Issue
Face Value per share 10 Rs. per share
IPO price band 92 Rs. to 98 Rs. per share
LOT SIZE 150 shares
MINIMUM ORDER QUANTITY 150 shares
ISSUE SIZE 165.03 Crore Rs.
OFFER FOR SALE 29.79 Crore Rs.
FRESH ISSUE 135.24 Crore Rs.
LISTING AT NSE, BSE
LISTING DATE 14 September, 2023

Ratnaveer Precision Engineering Limited IPO : IMPORTANT DATES

IPO OPENING DATE 4 September, 2023
CLOSING DATE FOR IPO 6 September, 2023
IPO ALLOTMENT DATE 11 September, 2023
REFUNDS 12 September, 2023
DEMAT A/C CREDITED ON 13 September, 2023
IPO LISTING DATE 14 September, 2023

Ratnaveer Precision Engineering Limited IPO begins for subscription from 4 September 2023. The IPO subscription would continue till 6 September, 2023. The allotment status for the shareholders who applied would come on 11 September, 2023. The refunds for the ones who did not get allotment would be initiated on 12 September, 2023. The DEMAT accounts of shareholders would be credited on 13 September, 2023. The listing of the company would be completed on 14 September, 2023.

Ratnaveer Precision Engineering Limited IPO : Lead Managers

The lead managers are :

  • Unistone Capital Private Limited

The minimum lot size for the company is decided at 150 shares. This holding accounts to 14700 Rs.. The maximum lot size is decided at 1950 shares. This amounts to 191100 Rs.. Hence the company’s final holdings would be set as :

  Shares Amount
Minimum 150 shares 14700 Rs.
Maximum 1950 shares 191100Rs.

OBJECTIVES FOR THE IPO

  • IPO proceeds would be used for general corporate purposes.
  • The company will use the IPO money for further working capital requirements.

COMPANY FINANCIALS

Particularly (in Crore Rs.) 2020-21 2021-22 2022-23
ASSETS 255 308 389
Revenue 364 428 481
PAT 5 9 25

Ratnaveer Precision Engineering Limited had an asset base of 255 Crore Rs in the year 2021 which increased to 308 Crore Rs in 2022 and 389 Crore Rs in 2023. The revenue of the firm was 364 Crore Rs in 2021. This boosted to 428 Crore Rs in 2022. However in 2023 the revenue again increased to 481 Crore Rs. The company has been profitable in the last 3 years. The profit has increased over time in the past 3 years. The profit in the year 2021 was 5 Crore Rs which boosted to 9 Crore Rs in 2022. Thus an increase of 80% in the same. However in 2023 the same became 25 Crore Rs which is 5 times of the profit earned in 2021.

PROS

  • It supplies its products to various sectors such as solar power, automotive, power plants, wind energy, pharmaceuticals, oil and gas, electromechanics, sanitary and plumbing, instrumentation, electrical appliances, architecture, transportation, chimney liners, kitchen appliances, etc. 
  • It has four manufacturing units in Gujarat. The company has more than 2500 SKUs of SS washers.

CONS

  • The company works in a highly competitive segment.

Ratnaveer Precision Engineering Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

  1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
  2. Click the Ratnaveer Precision Engineering Limited IPO button and press the BID button.
  3. Entering the details asked for like UPI ID, Quantity and price.
  4. Submit the application form for the IPO.
  5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.

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