<p>The first initial public offering will be made by stainless steel product manufacturer Ratnaveer Precision Engineering in September 2023. Ratnaveer Precision Engineering Limited’s initial public offering (IPO) is now accepting subscriptions. The event will end on September 6.</p>
<p>On Friday, September 1, anchor investors raised roughly Rs 49.5 crore for the Ratnaveer IPO. Among the domestic and international investors that participated in the anchor book issuance were Societe Generale, Saint Capital Fund, Sixteenth Street Asian Gems Fund, Coeus Global Opportunities Fund, and Leading Light Fund VCC – The Triumph Fund.<img decoding=”async” class=”alignnone wp-image-161008″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pm-modi-will-go-to-indonesia-for-the-asean-india-and-east-asia-summits-before-to-t-750×422.png” alt=”theindiaprint.com pm modi will go to indonesia for the asean india and east asia summits before to t” width=”1480″ height=”833″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pm-modi-will-go-to-indonesia-for-the-asean-india-and-east-asia-summits-before-to-t-750×422.png 750w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pm-modi-will-go-to-indonesia-for-the-asean-india-and-east-asia-summits-before-to-t-1024×576.png 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pm-modi-will-go-to-indonesia-for-the-asean-india-and-east-asia-summits-before-to-t-768×432.png 768w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pm-modi-will-go-to-indonesia-for-the-asean-india-and-east-asia-summits-before-to-t-390×220.png 390w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pm-modi-will-go-to-indonesia-for-the-asean-india-and-east-asia-summits-before-to-t-150×84.png 150w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pm-modi-will-go-to-indonesia-for-the-asean-india-and-east-asia-summits-before-to-t.png 1200w” sizes=”(max-width: 1480px) 100vw, 1480px” title=”Day Two of the Ratnaveer IPO: Subscription, GMP, and Other Information; Should You Buy? 9″></p>
<p>Status of Ratnaveer’s IPO subscriptions</p>
<p>On day 1, 5.77 times were subscribed for the Ratnaveer IPO. Retail investors’ shares in the Ratnaveer IPO were subscribed 7.65 times, NII shares were subscribed 9.03 times, and QIB shares were subscribed at 5%.</p>
<p>IPO Price Band for Ratnaveer</p>
<p>The offer’s price range has been set at Rs. 93-98 per share. At the higher price range, the market capitalization is Rs 475.3 crore.</p>
<p>Size of Ratnaveer’s IPO Issue</p>
<p>At the higher price range, the Gujarat-based firm hopes to generate Rs 165.03 crore from its first public offering. The IPO consists of a new issuance of 1.38 crore equity shares worth Rs 135.24 crore and an offer-for-sale (OFS) by promoter Vijay Ramanlal Sanghavi of 30.4 lakh shares worth Rs 29.79 crore.</p>
<p>Including Societe Generale, Sixteenth Street Asian Gems Fund, Saint Capital Fund, Coeus Global Opportunities Fund, and Leading Light Fund VCC – The Triumph Fund, the business received Rs 49.5 crore from six anchor investors on September 1.</p>
<p>Ratnaveer IPO Issue Objectives</p>
<p>Ratnaveer Precision Engineering would utilise the net proceeds of the new issuance for general corporate objectives and working capital needs of Rs 85 crore, while the proceeds of the OFS will go to the selling shareholder.</p>
<p>Size of Ratnaveer’s IPO Lot</p>
<p>The minimum bid is 150 equity shares, and all further bids must be made in multiples of 150 shares. At the higher price range, retail investors may pay as little as Rs 14,700 for a single lot of 150 shares and as much as Rs 1,91,100 for 13 lots (1,950 shares). Up to Rs 2 lakh may be invested by retail investors in the IPO.</p>
<p>High net worth persons who fall under the category of Rs 2–10 lakh minimum-to-maximum investment limits may submit an application for as little as 2,100 shares costing Rs 2,05,800 and as much as 10,200 shares worth Rs 9,99,600.</p>
<p>The minimum bid is 150 equity shares, and all further bids must be made in multiples of 150 shares. At the higher price range, retail investors may pay as little as Rs 14,700 for a single lot of 150 shares and as much as Rs 1,91,100 for 13 lots (1,950 shares). Up to Rs 2 lakh may be invested by retail investors in the IPO.</p>
<p>High net worth persons who fall under the category of Rs 2–10 lakh minimum-to-maximum investment limits may submit an application for as little as 2,100 shares costing Rs 2,05,800 and as much as 10,200 shares worth Rs 9,99,600.</p>
<p>About The Company: Ratnaveer IPO</p>
<p>The Gujarat-based maker of stainless steel products, which has four production facilities, focuses on producing completed sheets, washers, solar roofing hooks, pipes, and tubes. A product with great value and high corrosion resistance is stainless steel.</p>
<p>The business supplies goods to a number of sectors, including the automotive, electrical, oil and gas, pharmaceutical, electromechanic, building and construction, and kitchen appliance industries.</p>
<p>Allotment of Ratnaveer IPO Shares and Listing</p>
<p>Ratnaveer Precision will decide the methodology for IPO share allocation in collaboration with the NSE by September 11 and the equity shares will be delivered to successful investors’ demat accounts by September 13. By September 12, the bank accounts of failed participants will have their reimbursements reimbursed.</p>
<p>According to the IPO plan, the trading in its equity shares will start on the BSE and NSE on September 14.</p>
<p>Today’s Ratnaveer IPO GMP</p>
<p>Market watchers claim that shares of Ratnaveer Precision Engineering Limited are now offered on the black market for a premium of Rs 50.</p>
<p>Should You Buy the Ratnaveer IPO?</p>
<p>Ratnaveer Precision Engineering Limited (“RPEL”) is a maker of stainless steel (“SS”) products with an emphasis on creating completed sheets, washers, solar roofing hooks, pipes, and tubes, according to Avinash Gorakshkar, Head of Research at Profitmart Securities. A product with great value and high corrosion resistance is stainless steel. The corrosion resistance is improved by adding more alloy components and increasing the chromium content. Stainless steel offers a longer lifespan, a greater resistance to corrosion, and a better visual finish than conventional steel. These characteristics have contributed to stainless steel’s rising appeal globally.</p>
