Ratnaveer IPO Overview
The initial public offering (IPO) of engineering company Ratnaveer Precision Engineering Limited is set to open for subscription on September 4 and will close on September 6. This article provides a comprehensive overview of the Ratnaveer IPO, including subscription details, price band, lot size, and more.
Subscription Dates
The Ratnaveer IPO subscription period will begin on September 4, 20XX, and conclude on September 6, 20XX.
Price Band
The price band for the Ratnaveer IPO has been fixed at Rs 93 to Rs 98 per equity share.
Anchor Investors
Prior to the IPO launch, Ratnaveer IPO successfully raised approximately Rs 49.5 crore from anchor investors on September 1. Notable investors who participated in the anchor book issue include Societe Generale, Saint Capital Fund, Sixteenth Street Asian Gems Fund, Coeus Global Opportunities Fund, and Leading Light Fund VCC – The Triumph Fund.
Allotment and Listing Dates
The Ratnaveer IPO share allotment is scheduled for September 11, while refunds for those who do not receive allotments will be processed on September 12. The cut-off time for UPI mandate confirmation is 5 pm on September 6. The anticipated listing date for Ratnaveer IPO is September 14.
Lot Size
Investors looking to participate in the Ratnaveer IPO must purchase at least one lot, which consists of 150 shares.
Issue Size
The total issue size of the Ratnaveer Precision IPO is 1,68,40,000 shares, comprising a fresh issue of 1,38,00,000 shares and an offer-for-sale (OFS) of 30,40,000 shares.
Quota Allocation
The IPO quota allocation is as follows:
| Category | Allocation |
|---|---|
| Retail Investors | 35% |
| QIB Investors | 50% |
| Non-Institutional Investors (NIIs) | 15% |
Grey Market Premium (GMP)
Market observers report that Ratnaveer Precision Engineering Limited is currently trading in the grey market with a premium of Rs 48. This GMP represents a substantial 48.98% increase over the upper issue price of Rs 98 per share. The high GMP indicates strong investor demand and suggests the potential for a significant listing gain.
Grey market premium (GMP) reflects investors’ willingness to pay more than the issue price for shares in the secondary market.
About Ratnaveer Precision Engineering Limited
Ratnaveer Precision Engineering Limited was established in 2002 and specializes in the manufacturing of stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes. The company serves a diverse range of industries, including automotive, solar power, wind energy, power plants, oil and gas, pharmaceuticals, sanitary and plumbing, instrumentation, electromechanics, architecture, building and construction, electrical appliances, transportation, kitchen appliances, chimney liners, and more.
Investors and enthusiasts are eagerly awaiting the Ratnaveer IPO, given the strong interest in the grey market and the company’s diverse product offerings across multiple industries.