Ratnaveer IPO will remain open for public subscription between September 4 and September 6 this year; price band for the Rs 165.03-crore IPO has been fixed at Rs 93 to Rs 98 per equity share
Ratnaveer IPO: The initial public offering (IPO) of engineering company Ratnaveer Precision Engineering Limited is going to open for subscription tomorrow, September 4. It will close on September 6. The price band for the Rs 165.03-crore IPO has been fixed at Rs 93 to Rs 98 per equity share.
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Ratnaveer IPO raised nearly Rs 49.5 crore from anchor investors on Friday, September 1. Societe Generale, Saint Capital Fund, Sixteenth Street Asian Gems Fund, Coeus Global Opportunities Fund, and Leading Light Fund VCC – The Triumph Fund were among the domestic and foreign investors who took part in the anchor book issue.
Ratnaveer IPO: Subscription, Allotment, Listing Dates
The Ratnaveer IPO will remain open for public subscription between September 4 and September 6 this year. The share allotment will take place on September 11. Those not getting the IPO allotment will get a refund on September 12. The cut-off time for UPI mandate confirmation is 5 pm on September 6.
The listing of Ratnaveer IPO is likely to take place on September 14.
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Ratnaveer IPO: Price, Lot Size
The price band for Ratnaveer Precision IPO has been fixed at Rs 93-Rs 98 per share. Investors need to buy at least a lot, comprising 150 shares, to participate in the IPO. The total issue size is 1,68,40,000 shares, consisting of a fresh issue of 1,38,00,000 shares and an offer-for-sale (OFS) of 30,40,000 shares.
Ratnaveer IPO: Quota
Retail investors will be able to participate in the 35 per cent of the offer. A total of 50 per cent will be reserved for QIB investors, while the remaining 15 per cent quota will be for non-institutional investors (NIIs).
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Ratnaveer IPO: Latest GMP Today
According to market observers, Ratnaveer Precision Engineering Limited is currently trading Rs 48 higher in the grey market. The Rs 48 grey market premium or GMP is about 48.98 per cent higher than its upper issue price of Rs 98 per share. This means the grey market is expecting 48.98 per cent listing gain from the public issue.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Ratnaveer Precision Engineering Limited
Ratnaveer Precision Engineering Limited was incorporated in 2002. The company manufactures stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes.
Ratnaveer 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.
