RatnaVeer Precisions IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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

  • Offer for sale.
  • Working Capital.
  • Corporate Purposes.

RatnaVeer Precisions IPO Details

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

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)

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

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

Share Holding Pre Issue 86%
Share Holding Post Issue 55%

RatnaVeer Precisions IPO Subscription Status

Investor Category Shares Offered Shares Bid For No oF Times Subscribed

About RatnaVeer Precisions Limited

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.

RatnaVeer Precisions Limited Financial Information (Restated Consolidated)

Amount in (Rs. Crore)

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

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 Precisions Limited Contact Details

Ratnaveer Precision Engineering Limited
Plot no. E-77, G.I.D.C.,
Savli (Manjusar),
Vadodara - 391 775
Phone: +91 8487878075
Email: cs@ratnaveer.com
Websitehttps://ratnaveer.com/

RatnaVeer Precisions IPO Registrar and Lead Manager(s)

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
Websitehttps://linkintime.co.in/initial_offer/public-issues.html

RatnaVeer Precisions IPO Review

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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