25-Aug-2023
2 mins read
Vadodara-based Ratnaveer Precision Engineering Limited is planning an Initial Public Offering of up to 17,400,000 equity shares with a face value of Rs 10 each. The price band of this issue has yet to be decided. The issue comprises an offer for the sale of 3,040,000 shares. The tentative listing date would be 14 September 2023. The Equity Shares offered through the Red Herring Prospectus are intended for listing on two major Stock Exchanges: BSE Limited and National Stock Exchange of India Limited.
Ratnaveer Precision Engineering Limited Company Profile
Established in 2002, Ratnaveer Precision Engineering Limited specialises in the production of a variety of stainless-steel finished products, including sheets, washers, solar roofing hooks, pipes, and tubes.
The company engages in the manufacturing of stainless steel-based products catering to a diverse range of industries, including 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 various other sectors
Ratnaveer Precision Engineering operates from four distinct manufacturing units. Among these, Unit-I and Unit-II are situated at GIDC, Savli, Vadodara, Gujarat. Unit-III is located at Waghodia, Vadodara, Gujarat, while Unit-IV is situated at GIDC, Vatva, Ahmedabad, Gujarat.
The production activities are distributed across these units as follows:
At Unit-I, the manufacturing focuses on SS finishing sheets, SS washers, and SS solar mounting hooks. Unit II is dedicated to the production of SS pipes and tubes.
Unit III serves as the melting unit, where steel scrap is transformed into steel ingots through a melting process. Unit-IV, on the other hand, functions as the rolling unit, where flat ingots undergo processing to be transformed into SS sheets, which subsequently serve as the raw material for SS washers.
During the fiscal year 2023, the company achieved a cumulative revenue from its operational activities amounting to Rs 4,797.30 million. This figure encompasses a domestic turnover of Rs 3,875.39 million, along with an export turnover of Rs 921.91 million.
Financials of Rishabh Instruments Limited IPO (In Rs Crore)
| Period Ended | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 255.92 | 308.63 | 389.05 |
| Revenue | 364.05 | 428.47 | 481.14 |
| Profit After Tax | 5.46 | 9.48 | 25.04 |
| Net Worth | 56.58 | 65.97 | 106.05 |
| Reserves and Surplus | 52.32 | 61.71 | 71.16 |
| Total Borrowing | 150.76 | 190.73 | 229.99 |
Important Dates for Ratnaveer Precision Engineering Limited IPO
| IPO Date | Sep 4, 2023 to Sep 6, 2023 |
| Listing Date | 14 September 20 |
| Face Value | Rs 10 per share |
| Price | Yet to be announced |
| Lot Size | Yet to be announced |
| Total Issue Size | 16,840,000 shares |
| Fresh Issue | 13,800,000 shares |
| Offer for Sale | 3,040,000 shares of Rs 10 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 34,699,040 |
| Shareholding post issue | 48,499,040 |
Objectives of the Ratnaveer Precision Engineering Limited IPO
The net proceeds generated from the issue are slated to be employed for the following purposes:
- Fulfilling the company’s working capital necessities.
- Addressing general corporate objectives.
Promoters of the Ratnaveer Precision Engineering Limited
Vijay Ramanlal Sanghavi is the promoter of Ratnaveer Precision Engineering Limited.
Lead Managers of Ratnaveer Precision Engineering Limited
The lead manager of Ratnaveer Precision Engineering Limited is Unistone Capital Pvt Ltd.
How to Apply for The Ratnaveer Precision Engineering Limited IPO?
Wait for the public issue to open for subscription, then click on this link to apply for Ratnaveer Precision Engineering Limited with Bigul: https://ipo.bonanzaonline.com/.
FAQ for Ratnaveer Precision Engineering Limited IPO
- What is the face value of Ratnaveer Precision Engineering Limited’s equity shares?
The face value of Ratnaveer Precision Engineering Limited’s equity shares is Rs 10 each.
- When is the IPO subscription period for Ratnaveer Precision Engineering Limited?
The IPO subscription period for Ratnaveer Precision Engineering Limited is from September 4, 2023, to September 6, 2023.
- What is the listing date for Ratnaveer Precision Engineering Limited IPO?
The tentative listing date for Ratnaveer Precision Engineering Limited IPO is September 14, 2023.
- What are the stock exchanges where Ratnaveer Precision Engineering Limited shares will be listed?
Ratnaveer Precision Engineering Limited shares will be listed on BSE Limited and the National Stock Exchange of India Limited (NSE).
6: Who are the promoters of the company?
Vijay Ramanlal Sanghavi is the promoter of Ratnaveer Precision Engineering Limited.
7: Who are the lead managers for this IPO?
Unistone Capital Pvt Ltd is the lead manager overseeing the Ratnaveer Precision Engineering Limited IPO.