The Ratnaveer Precision Engineering IPO, valued at Rs 165.03 crores, comprises a book-built issue. It consists of a fresh issue of 1.38 crore shares worth Rs 135.24 crores, alongside an offer for sale of 0.3 crore shares totaling Rs 29.79 crores.
The IPO bidding for Ratnaveer Precision Engineering commenced on September 4, 2023, concluding on September 6, 2023. Allotment results were determined by Thursday, September 7, 2023. The shares were subsequently listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 11, 2023.
The IPO price range for Ratnaveer Precision Engineering is ₹93 to ₹98 per share, with a minimum lot size of 150 shares. Retail investors need to invest a minimum of ₹14,700. Strategic Non-Institutional Investors (sNII) must invest in 14 lots (2,100 shares), totaling ₹205,800, while big Non-Institutional Investors (bNII) need to invest in 69 lots (10,350 shares), amounting to ₹1,014,300.
Unistone Capital Pvt Ltd serves as the book running lead manager for the Ratnaveer Precision Engineering IPO, with Link Intime India Private Ltd appointed as the registrar overseeing the issue.
OBJECTIVE OF IPO
RatnaVeer Precisions IPO Details |
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| IPO Date | September 04, 2023 to September 06, 2023 | ||||||||||
| Listing Date | September 11, 2023 | ||||||||||
| Face Value | 10 | ||||||||||
| Price | 93-98 | ||||||||||
| Lot Size | 150 shares | ||||||||||
| Total Issue Size | 165.03 | ||||||||||
| Fresh Issue | 13,800,000 shares (aggregating up to ₹135.24 Cr) | ||||||||||
| Offer for Sale | 3,040,000 shares of ₹10 (aggregating up to ₹29.79 Cr) | ||||||||||
| Issue Type | Book Built Issue IPO | ||||||||||
| Listing At | NSE, BSE | ||||||||||
| Share holding pre issue | 34,699,040 | ||||||||||
| Share holding post issue | 48,499,040 | ||||||||||
RatnaVeer Precisions IPO Lot Size |
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| Application | Lots | Shares | Amount | ||||||||
| Retail (Min) | 1 | 150 | ₹14,700 | ||||||||
| Retail (Max) | 13 | 1950 | ₹191,100 | ||||||||
| S-HNI (Min) | 14 | 2,100 | ₹205,800 | ||||||||
| S-HNI (Max) | 68 | 10,200 | ₹999,600 | ||||||||
| B-HNI (Min) | 69 | 10,350 | ₹1,014,300 | ||||||||
RatnaVeer Precisions IPO Timeline (Tentative Schedule) |
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| IPO Open Date | Monday, September 4, 2023 | ||||||||||
| IPO Close Date | Wednesday, September 6, 2023 | ||||||||||
| Basis of Allotment | Thursday, September 7, 2023 | ||||||||||
| Initiation of Refunds | Friday, September 8, 2023 | ||||||||||
| Credit of Shares to Demat | Friday, September 8, 2023 | ||||||||||
| Listing Date | Monday, September 11, 2023 | ||||||||||
| Cut-off time for UPI mandate confirmation | 5 PM on September 6, 2023 | ||||||||||
RatnaVeer Precisions IPO Reservation |
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| Investor Category | Shares Offered | Reservation % | |||||||||
| Anchor Investor Shares Offered | 5,052,000 (30.00%) | NA | |||||||||
| QIB Shares Offered | 3,368,000 (20.00%) | NA | |||||||||
| NII (HNI) Shares Offered | 2,526,000 (15.00%) | ||||||||||
| bNII > ₹10L | 1,684,000 (10.00%) | 801 | |||||||||
| sNII < ₹10L | 842,000 (5.00%) | 400 | |||||||||
| Retail Shares Offered | 5,894,000 (35.00%) | 39,293 | |||||||||
| Total Shares Offered | 16,840,000 (100%) | ||||||||||
RatnaVeer Precisions IPO Promoter Holding |
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| Share Holding Pre Issue | 86% | ||||||||||
| Share Holding Post Issue | 55% | ||||||||||
RatnaVeer Precisions IPO Subscription Status |
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| Investor Category | Shares Offered | Shares Bid For | No oF Times Subscribed | ||||||||
Co. incorporate in 2002 is a stainless-steel product manufacturer, producing: • Finished Sheets • Washers • Solar Roofing Hooks • Pipes & Tubes. Company operates at 4 (two at GIDC, one in Vadodara, one in Ahmedabad, Gujarat) with availability of transportation, which facilitates convenient transportation of products. Works with backward integration model focusing on expanding its product portfolio
RISK FACTOR
• Few customers are holding majority part of sales with high volume and low margin.
• Negative cashflows in the recent past in the competitive industry and price sensitive industry with lack of long-term contracts may affect the financials.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Reserve of Surplus | 71.16 | 61.71 | 52.32 |
| Total Assets | 389.05 | 308.63 | 255.92 |
| Total Borrowings | 229.99 | 190.73 | 150.76 |
| Fixed Assets | 43.65 | 36.46 | 30.093 |
| Cash | 30.2 | 19.6 | 18.7 |
| Net Borrowing | 199.7 | 171.13 | 132.06 |
| Revenue | 481.14 | 428.47 | 364.0 |
| EBITDA | - | 29.1 | 24.3 |
| PAT | 25.04 | 9.48 | 5.46 |
| EPS | 7.26 | 2.75 | 1.59 |
Key Performance Indicator |
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| KPI | Values | ||||||||||
| EPS Pre IPO (Rs.) | 7.26 | ||||||||||
| EPS Post IPO (Rs.) | - | ||||||||||
| P/E Pre IPO | - | ||||||||||
| P/E Post IPO | 18.99 | ||||||||||
| ROE | 29.12% | ||||||||||
| ROCE | 12.62% | ||||||||||
| P/BV | 3.19 | ||||||||||
| Debt/Equity | 2.17 | ||||||||||
| RoNW | 29.12% | ||||||||||
RatnaVeer Precisions Limited IPO Peer Comparison |
|||||||||||
| Company Name | EPS | ROCE | ROE | P/E (x) | P/Bv | Debt/Equity | RoNW (%) | ||||
| M M Forgings Ltd | 55.9 | 15.1% | 19.8% | 15.6 | 2.78 | 0.94 | 15.1% | ||||
| Menon Bearings Ltd | 5.07 | 32.1% | 26.6% | 22.7 | 4.79 | 0.18 | 32.1% | ||||
| Venus Pipes & Tubes Ltd | 36.6 | 22.9% | 19.6% | 50 | 10.4 | 0.41 | 22.9% | ||||
| RatnaVeer Precisions Limited | 7.26 | 12.62% | 29.12% | 18.99 | 3.19 | 2.17 | 29.12% | ||||
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/
Link Intime India Pvt. Ltd.
Address: C - 101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli West,
Mumbai 400 083, Maharashtra, India
Phone: +91-22-4918 6270
Email: ratnaveerprecision.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Ratnaveer Precision Engineering Ltd. (RPEL), previously known as Ratnaveer Metals Ltd., specializes in manufacturing stainless steel (SS) products such as sheets, washers, solar roofing hooks, pipes, and tubes, known for their corrosion-resistant properties. Over the last three fiscal years, RPEL has consistently increased its turnover and net profit, with an average EPS of Rs. 4.81 and an average RoNW of 18.20%. The IPO is priced at a P/BV of 3.19, reflecting the company's solid performance. Although RPEL hasn't declared dividends, its focus on high-margin SS cold-rolled products and efficient operations suggests potential for growth. Considering its steady financials, investors may find RPEL an attractive long-term investment option.
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| Step | Process | Timeline |
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| 1 | Consultation & Eligibility Check – Our experts assess your business and required documents. | 1 Day |
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| 1 | Consultation & Return Type Identification – We identify applicable returns based on your business. | Same Day |
| 2 | Document Collection – You share invoices and required details digitally. | 1–2 Days |
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The GST return filing process at Finance Saathi is simple, structured, and fully online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Return Type Identification – We identify applicable returns based on your business. | Same Day |
| 2 | Document Collection – You share invoices and required details digitally. | 1–2 Days |
| 3 | Data Review & ITC Reconciliation – Our experts verify data and reconcile ITC. | 1 Day |
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The IEC registration process at Finance Saathi is simple and fully online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation – Our experts understand your import/export business requirements. | Same Day |
| 2 | Document Collection – Required documents and business details collected. | Same Day |
| 3 | Application Preparation – IEC registration application prepared on DGFT portal. | 1 Day |
| 4 | Online Submission – Application filed on the DGFT website. | Same Day |
| 5 | Verification & Processing – DGFT verifies application details. | 1–2 Days |
| 6 | IEC Certificate Issued – Import Export Code generated and delivered via email. | — |
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The Income Tax Return filing process at Finance Saathi is simple and completely online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation – Our experts understand your income sources and tax requirements. | Same Day |
| 2 | Document Collection – Required documents and income details collected. | Same Day |
| 3 | Tax Calculation – Accurate computation of income, deductions, and tax liability. | 1 Day |
| 4 | ITR Preparation – Preparation of the appropriate ITR form. | 1 Day |
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| Step | Process | Timeline |
|---|---|---|
| 1 | Notice Review – Our experts analyze the GST notice and identify the issue. | Same Day |
| 2 | Document Collection – Required invoices, returns, and records are gathered. | 1–2 Days |
| 3 | Case Analysis – Detailed examination of discrepancies and legal provisions. | 1 Day |
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| 6 | Submission on GST Portal – Final reply submitted before deadline. | Same Day |
Estimated Resolution Time: 2–4 Working Days
The GST return filing process at Finance Saathi is simple, structured, and fully online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Return Type Identification – We identify applicable returns based on your business. | Same Day |
| 2 | Document Collection – You share invoices and required details digitally. | 1–2 Days |
| 3 | Data Review & ITC Reconciliation – Our experts verify data and reconcile ITC. | 1 Day |
| 4 | GST Return Preparation – Accurate preparation of GSTR-1 / GSTR-3B / other returns. | 1 Day |
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Estimated Turnaround Time: 2–4 Working Days (per return period)
The business tax filing process at Finance Saathi is simple and fully online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation – Our experts understand your business structure and tax requirements. | Same Day |
| 2 | Document Collection – Financial records and tax documents collected. | 1–2 Days |
| 3 | Financial Review – Analysis of income, expenses, and deductions. | 1 Day |
| 4 | Tax Calculation & Return Preparation – Accurate computation and preparation of ITR form. | 1 Day |
| 5 | Client Approval – Draft return shared with client for confirmation. | Same Day |
| 6 | Return Filing – Business tax return filed on the Income Tax portal and acknowledgment shared. | Same Day |
Estimated Total Duration: 2–4 Working Days
The GST revocation process at Finance Saathi is simple and fully online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Case Review – Our experts analyze the cancellation order and eligibility for revocation. | Same Day |
| 2 | Compliance Check – Verification of pending returns and tax liabilities. | 1 Day |
| 3 | Document Preparation – Preparing explanation and supporting documents. | 1 Day |
| 4 | Revocation Application Filing – Submission of Form GST REG-21 on the GST portal. | 1 Day |
| 5 | GST Officer Review – Department reviews the application and may request clarification. | 2–3 Days |
| 6 | GSTIN Reactivation – GST registration restored after approval. | — |
Estimated Total Duration: 3–7 Working Days
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| Step | Process | Timeline |
|---|---|---|
| 1 | Notice Review – Our experts analyze the notice issued by the Income Tax Department. | Same Day |
| 2 | Document Collection – Required financial records and tax documents collected. | 1–2 Days |
| 3 | Case Analysis – Detailed evaluation of discrepancies and legal provisions. | 1 Day |
| 4 | Reply Drafting – Professional response prepared with supporting documents. | 1 Day |
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| 6 | Submission on Income Tax Portal – Final reply submitted before the deadline. | Same Day |
Estimated Total Duration: 2–4 Working Days
The GST registration process at FinanceSaathi is quick, transparent, and end-to-end online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Eligibility Check – Our experts assess your business and required documents. | 1 Day |
| 2 | Document Collection & Preparation – You share scanned copies; we prepare the application. | 1–2 Days |
| 3 | Online Application Submission – Filing GST REG-01 on GST portal. | 1 Day |
| 4 | ARN Generation & Verification – Acknowledgment number generated and verified. | 1 Day |
| 5 | GST Officer Review – Department may seek clarification if required. | 2–3 Days |
| 6 | GSTIN Allotment & Certificate Issued – Once approved, you receive your GST registration certificate via email. | 3–5 Days Total |
Estimated Total Duration: 3–5 Working Days
The GST return filing process at Finance Saathi is simple, structured, and fully online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Return Type Identification – We identify applicable returns based on your business. | Same Day |
| 2 | Document Collection – You share invoices and required details digitally. | 1–2 Days |
| 3 | Data Review & ITC Reconciliation – Our experts verify data and reconcile ITC. | 1 Day |
| 4 | GST Return Preparation – Accurate preparation of GSTR-1 / GSTR-3B / other returns. | 1 Day |
| 5 | Client Confirmation – Draft shared for approval before filing. | Same Day |
| 6 | GST Return Filing – Returns filed on the GST portal and acknowledgment shared. | Same Day |
Estimated Turnaround Time: 2–4 Working Days (per return period)
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| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation – Our experts understand your business details and eligibility. | Same Day |
| 2 | Document Collection – Required business and identity details collected. | Same Day |
| 3 | Application Preparation – MSME registration application prepared on Udyam portal. | Same Day |
| 4 | Online Submission – Application submitted on the official Udyam registration portal. | Same Day |
| 5 | Verification & Processing – Government system verifies Aadhaar and PAN details. | Same Day |
| 6 | Udyam Certificate Issued – MSME registration certificate generated and shared. | Within 1–2 Days |
Estimated Total Duration: 1–2 Working Days
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| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation – Our experts verify IEC and business details. | Same Day |
| 2 | Document Collection – Required documents collected digitally. | Same Day |
| 3 | Application Preparation – ICEGATE registration application prepared. | 1 Day |
| 4 | Online Submission – Application submitted on ICEGATE portal. | Same Day |
| 5 | Verification – Customs system verifies submitted details. | 1–2 Days |
| 6 | ICEGATE Account Activation – Login credentials activated for portal access. | — |
Estimated Total Duration: 1–3 Working Days
The GST amendment process at Finance Saathi is simple, transparent, and fully online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation – Our experts understand the amendment requirement. | Same Day |
| 2 | Document Collection – You share required documents digitally. | 1 Day |
| 3 | Application Preparation – Amendment application prepared on GST portal. | 1 Day |
| 4 | Filing GST Amendment – Submission of Form GST REG-14 online. | Same Day |
| 5 | GST Officer Review – Approval required for certain amendments. | 2–3 Days |
| 6 | Updated GST Certificate Issued – Amendment approved and updated in GST records. | — |
Estimated Total Duration: 2–4 Working Days
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