The portion for non-institutional investors was subscribed 135.20 times and that of Qualified Institutional Buyers (QIBs) received 133.05 times subscription.
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The Initial Public Offering (IPO) of Ratnaveer Precision Engineering Limited was subscribed 93.96 times on the last day of subscription on Wednesday, riding high on encouraging participation from institutional investors.
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The company is a stainless steel washer manufacturer and supplier. The share sale received bids for 110.76 crore shares against 1.17 crore shares on offer, as per NSE data.
The portion for non-institutional investors was subscribed 135.20 times and that of Qualified Institutional Buyers (QIBs) received 133.05 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 53.95 times.
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The IPO was a combination of fresh issue and offer for sale. The public issue of 1,68,40,000 equity shares had a fresh issue of 1,38,00,000 equity shares and an offer for sale of up to 30,40,000 equity shares. Price range for the offer was Rs 93-98 a share. Unistone Capital was the manager to the offer.
