Ratnaveer Precision Engineering IPO GMP, Dates & Details

Ratnaveer Precision Engineering IPO

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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.


Objectives of Ratnaveer Precision Engineering IPO

The proceeds of the Offer are to be utilized for financing the following objects:

ParticularsTotal Estimated CostAmount Already DeployedAmount Proposed to be Funded from the Net ProceedsEstimated Deployment of Net Proceeds FY 2024Estimated Deployment of Net Proceeds FY 2025
Funding Working Capital Requirements850.00850.00550.00300.00
General Corporate Purposes[●][●][●][●]
– (₹ in Million)

Ratnaveer Precision Engineering IPO Details

IPO DateSeptember 4, 2023 to September 6, 2023
Listing DateSeptember 14, 2023
Face Value₹10 per share
Price₹93 to ₹98 per share
Lot Size150 Shares
Total Issue Size16,840,000 shares
(aggregating up to ₹165.03 Cr)
Fresh Issue13,800,000 shares
(aggregating up to ₹135.24 Cr)
Offer for Sale3,040,000 shares of ₹10
(aggregating up to ₹29.79 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue34,699,040
Share holding post issue48,499,040

Ratnaveer Precision Engineering IPO Tentative Timetable

IPO Open DateMonday, September 4, 2023
IPO Close DateWednesday, September 6, 2023
Basis of AllotmentMonday, September 11, 2023
Initiation of RefundsTuesday, September 12, 2023
Credit of Shares to DematWednesday, September 13, 2023
Listing DateThursday, September 14, 2023
Cut-off time for UPI mandate confirmation5 PM on September 6, 2023

Ratnaveer Precision Engineering IPO Reservation

QIB Shares OfferedNot more than 50.00% of the Net offer
NII (HNI) Shares OfferedNot less than 15.00% of the Offer
Retail Shares OfferedNot less than 35.00% of the Offer

Ratnaveer Precision Engineering IPO Lot Size

Retail (Min)1150₹14,700
Retail (Max)131950₹191,100
S-HNI (Min)142,100₹205,800
S-HNI (Max)6810,200₹999,600
B-HNI (Min)6910,350₹1,014,300

Ratnaveer Precision Engineering IPO Financial Information (Restated)

ParticularsFive Months Ended August 31, 2022Fiscal Year 2022Fiscal Year 2021Fiscal Year 2020
Share Capital (Rs.)42.6242.6242.6242.62
Net Worth (Rs.)750.33661.07564.82510.66
Total Income (Rs.)1,699.064,284.723,640.512,989.35
Profit/(Loss) After Tax (Rs.)89.2595.3554.6271.95
Basic and Diluted EPS (Rs.)21.9323.4313.4117.68
Net Asset Value per Share (Rs.)121.80131.42112.17103.66
Total Borrowings (Rs.)2,039.941,907.271,507.601,397.04
– (₹ in Million)

Ratnaveer Precision Engineering IPO Promoters

The Promoter of Ratnaveer Precision Engineering Limited is Mr. Vijay Ramanlal Sanghavi.

His holdings in the company:

Pre Issue Share Holding86.3%
Post Issue Share Holding55.48%

Ratnaveer Precision Engineering Limited Company Background

  • Founded: 2002
  • Location: Vadodara, Gujarat, India

Core Business:

  • 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

  • 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

Ratnaveer Precision Engineering Limited Industry Overview

  • 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.

Ratnaveer Precision Engineering IPO GMP Today

DateRatnaveer Precision IPO GMP
– Source: 5paisa
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