Ratnaveer Precision Engineering Limited, founded in 2002, produces stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes.
The company makes stainless steel-based products for the 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 four production plants, two of which are located at GIDC, Savli, Vadodara, Gujarat, Unit-III at Waghodia, Vadodara, Gujarat, and Unit-IV at GIDC, Vatva, Ahmedabad, Gujarat. Unit I produces stainless steel finishing sheets, washers, and solar mounting hooks, while Unit II produces stainless steel pipes and tubes. Units III and IV are devoted to the process of backward integration. Unit III is the melting unit, where melted steel scrap is converted into steel ingots, and Unit IV is the rolling unit, where flat ingots are further processed into SS sheets, which are used to make SS washers.
In fiscal year 2023, the firm earned Rs. 4,797.30 million in total income from operations, which included Rs. 3,875.39 million in domestic revenue and Rs. 921.91 million in export revenue.
Ratnaveer Precision Engineering IPO Details
| IPO Date | Sep 4, 2023 to Sep 6, 2023 |
| Listing Date | [.] |
| Face Value | Rs 10 per share |
| Price | Rs 93 to Rs 98 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 16,840,000 shares (aggregating up to Rs [.] Cr) |
| Fresh Issue | 13,800,000 shares (aggregating up to Rs [.] Cr) |
| Offer for Sale | 3,040,000 shares of ₹10 (aggregating up to Rs [.] 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
| 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 |
