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.
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.
Ratnaveer Precision Engineering IPO Details
Ratnaveer Precision Engineering IPO is a Book Built Issue. The IPO total issue size is Rs [.]. The Ratnaveer Precision Engineering IPO price is [.] to [.] per share. The IPO will list on BSE, NSE.
| IPO Date | Sep 4, 2023 to Sep 6, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | 16,840,000 shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | 13,800,000 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 3,040,000 shares of ₹10 (aggregating up to ₹[.] 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 |
Ratnaveer Precision Engineering IPO Reservation
| 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 |
Ratnaveer Precision Engineering IPO Timetable (Tentative)
Ratnaveer Precision Engineering IPO opens on Sep 4, 2023, and closes on Sep 6, 2023.
| IPO Open Date | Monday, 4 September 2023 |
| IPO Close Date | Wednesday, 6 September 2023 |
| Basis of Allotment | Monday, 11 September 2023 |
| Initiation of Refunds | Tuesday, 12 September 2023 |
| Credit of Shares to Demat | Wednesday, 13 September 2023 |
| Listing Date | Thursday, 14 September 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 6, 2023 |
Ratnaveer Precision Engineering IPO Promoter Holding
Mr. Vijay Ramanlal Sanghavi is the company’s promoter.
| Pre Issue Share Holding | 86.3% |
| Post Issue Share Holding |
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 255.92 | 308.63 | 389.05 |
| Revenue | 364.05 | 428.47 | 481.14 |
| Profit After Tax | 5.46 | 9.48 | 25.04 |
| Net Worth | 56.58 | 65.97 | 106.05 |
| Reserves and Surplus | 52.32 | 61.71 | 71.16 |
| Total Borrowing | 150.76 | 190.73 | 229.99 |
Amount in ₹ Crore
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 29.12% |
| ROCE | 12.62% |
| Debt/Equity | 2.17 |
| EPS (Rs) | 7.26 |
| RoNW | 29.12% |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding the working capital requirements of the company.
- General corporate purposes
Company Contact Information
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/
Ratnaveer Precision Engineering IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ratnaveerprecision.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
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