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Amidst the evolving landscape of the global engineering industry, Ratnaveer Precision Engineering is set to make its mark with an eagerly anticipated Initial Public Offering (IPO).
As the company prepares to take its next strategic leap, investors and market enthusiasts are keenly watching the unfolding developments of this promising IPO.
In this article, we have discussed everything about Ratnaveer Precision Engineering IPO.
So, if you’re ready, let’s start.
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What's in This Article
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The proceeds of the Offer are to be utilized for financing the following objects:
| Particulars | Total Estimated Cost | Amount Already Deployed | Amount Proposed to be Funded from the Net Proceeds | Estimated Deployment of Net Proceeds FY 2024 | Estimated Deployment of Net Proceeds FY 2025 |
|---|---|---|---|---|---|
| Funding Working Capital Requirements | 850.00 | – | 850.00 | 550.00 | 300.00 |
| General Corporate Purposes | [●] | – | [●] | [●] | [●] |
| Total | [●] | – | [●] | [●] | [●] |
| IPO Date | September 4, 2023 to September 6, 2023 |
| Listing Date | September 14, 2023 |
| Face Value | ₹10 per share |
| Price | ₹93 to ₹98 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 16,840,000 shares (aggregating up to ₹165.03 Cr) |
| 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 | BSE, NSE |
| Share holding pre issue | 34,699,040 |
| Share holding post issue | 48,499,040 |
| IPO Open Date | Monday, September 4, 2023 |
| IPO Close Date | Wednesday, September 6, 2023 |
| Basis of Allotment | Monday, September 11, 2023 |
| Initiation of Refunds | Tuesday, September 12, 2023 |
| Credit of Shares to Demat | Wednesday, September 13, 2023 |
| Listing Date | Thursday, September 14, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 6, 2023 |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| 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 |
| Particulars | Five Months Ended August 31, 2022 | Fiscal Year 2022 | Fiscal Year 2021 | Fiscal Year 2020 |
|---|---|---|---|---|
| Share Capital (Rs.) | 42.62 | 42.62 | 42.62 | 42.62 |
| Net Worth (Rs.) | 750.33 | 661.07 | 564.82 | 510.66 |
| Total Income (Rs.) | 1,699.06 | 4,284.72 | 3,640.51 | 2,989.35 |
| Profit/(Loss) After Tax (Rs.) | 89.25 | 95.35 | 54.62 | 71.95 |
| Basic and Diluted EPS (Rs.) | 21.93 | 23.43 | 13.41 | 17.68 |
| Net Asset Value per Share (Rs.) | 121.80 | 131.42 | 112.17 | 103.66 |
| Total Borrowings (Rs.) | 2,039.94 | 1,907.27 | 1,507.60 | 1,397.04 |
The Promoter of Ratnaveer Precision Engineering Limited is Mr. Vijay Ramanlal Sanghavi.
His holdings in the company:
| Pre Issue Share Holding | 86.3% |
| Post Issue Share Holding | 55.48% |
- Founded: 2002
- Location: Vadodara, Gujarat, India
Core Business:
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- Manufactures stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes
Industries Served:
- Automotive
- Solar power
- Wind energy
- Power plants
- Oil & gas
- Pharmaceuticals
- Sanitary & plumbing
- Instrumentation
- Electromechanics
- Architecture
- Building & construction
- Electrical appliances
- Transportation
- Kitchen appliances
- Chimney liners
- Other industries
Manufacturing Units:
- Unit-I: GIDC, Savli, Vadodara, Gujarat
- Products: SS finishing sheets, SS washers, SS solar mounting hooks
- Unit-II: GIDC, Savli, Vadodara, Gujarat
- Products: SS pipes & tubes
- Unit-III: Waghodia, Vadodara, Gujarat
- Function: Melting unit for steel scrap to steel ingots
- Unit-IV: GIDC, Vatva, Ahmedabad, Gujarat
- Function: Rolling unit for processing flat ingots into SS sheets (raw material for SS washers)
Expansion Plans:
- Land acquired at E-78, GIDC Industrial Estate, Savli, Vadodara, Gujarat, for adding circlips to SS washers
- 99-year lease from GIDC for expansion
Product Portfolio: SS Washers
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- Over 2,500 SKUs including:
- Inner ring washers
- Spring washers
- Nord lock washers
- Retaining rings
- Internal tooth washers
- External tooth washers
- Different sizes and specifications
Financials (Fiscal Year 2023):
- Total Revenue from Operations: Rs. 4,797.30 million
- Domestic Turnover: Rs. 3,875.39 million
- Export Turnover: Rs. 921.91 million
- Steel Production Growth in India (Since 2000):
- Phenomenal increase in steel production
- High investments in capacity addition and technology up-gradation
- 2021 Steel Production:
- India produced 118.13 million tons of crude steel in CY 2021
- Contributed 6.1% to global crude steel production (as per World Steel Association)
- Steel Production in 2022 (January-September):
- Approximately 93.3 million tons of steel produced in the first nine months of 2022
- A 6.4% increase compared to the same period in the previous year
- Projected Steel Production for the Year 2022:
- Unless there are significant disruptions, India is expected to end the year with approximately 124 million tons of crude steel.
- Growth Trends:
- In 2021, India’s crude steel production showed robust year-on-year growth of 18%, significantly improving from a 10% contraction in the previous year.
- Over the period from 2017 to 2021, steel production grew at a compound annual growth rate (CAGR) of 4%.
- Secondary and Finished Steel Products:
- The presence of a vast primary steel manufacturing infrastructure and a low-cost workforce has contributed to the growth of secondary and finished steel products.
- Steel Consumption in India:
- India is the second-largest consumer of finished steel.
- The emergence of a middle-class consumer segment has reshaped the consumption patterns in India.
| Date | Ratnaveer Precision IPO GMP |
|---|---|
| 1-Sept-2023 | ₹50 |
| 31-Aug-2023 | ₹50 |
| 30-Aug-2023 | ₹38 |
| 29-Aug-2023 | ₹12 |
| 28-Aug-2023 | ₹12 |
| 27-Aug-2023 | ₹25 |
| 26-Aug-2023 | ₹25 |
| 25-Aug-2023 | ₹25 |
Also Check Out: Rishabh Instruments IPO GMP Today, Dates & All Details
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