IPO : Ratnaveer Precision Engineering Limited
By Goodwill

IPO : Ratnaveer Precision Engineering Limited

 ISSUE TYPE Book Built Issue IPO
 ISSUE OPENS ON September 04, 2023 (Monday)
 ISSUE CLOSES ON September 06, 2023 (Wednesday)
 ISSUE PRICE Rs.93 To Rs.98 per share
 ISSUE SIZE Up to Rs.165.03 Crores
 FACE VALUE Rs.10 per share

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.

 MINIMUM BID 150 shares
 MAXIMUM BID 1950 shares
 MAXIMUM AMOUNT  Rs.1,91,100
 PROMOTER HOLDING 55.48% (Post-issue)
 LISTING DATE September 14,2023 (Thursday)

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.

Objects of the Issue

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Funding the working capital requirements of the company.
  2. General corporate purposes
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  • September 4, 2023


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