Ratnaveer Precision Engineering Limited IPO

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 DateSep 4, 2023 to Sep 6, 2023
Listing Date[.]
Face Value₹10 per share
Price[.] to [.] per share
Lot Size
Total Issue Size16,840,000 shares
(aggregating up to ₹[.] Cr)
Fresh Issue13,800,000 shares
(aggregating up to ₹[.] Cr)
Offer for Sale3,040,000 shares of ₹10
(aggregating up to ₹[.] 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 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 Timetable (Tentative)

Ratnaveer Precision Engineering IPO opens on Sep 4, 2023, and closes on Sep 6, 2023.

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

Ratnaveer Precision Engineering IPO Promoter Holding

Mr. Vijay Ramanlal Sanghavi is the company’s promoter.

Pre Issue Share Holding86.3%
Post Issue Share Holding

Company Financials

Period Ended31 Mar 202131 Mar 202231 Mar 2023
Profit After Tax5.469.4825.04
Net Worth56.5865.97106.05
Reserves and Surplus52.3261.7171.16
Total Borrowing150.76190.73229.99

Amount in ₹ Crore

Key Performance Indicator

EPS (Rs)7.26

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

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

Ratnaveer Precision Engineering IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: ratnaveerprecision.ipo@linkintime.co.in

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