Ratnaveer Precision Engineering was incorporated on February 20, 2002. The company specializes in manufacturing stainless steel products, including finished sheets, washers, solar roofing hooks, pipes, and tubes. Stainless steel is known for its high corrosion-resistant properties, making it a valuable and sought-after material for various applications.
| Bidding Dates |
|---|
| 04 Sep 2023 - 06 Sep 2023 |
| Subscription |
|---|
| 93.99x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,700 | 1 | 13 | 150 | 16.8 M | ₹93 - ₹98 | 65.28 % | ₹1566.1 M - ₹1650.3 M | RHP DOC |
Ratnaveer Precision IPO SUBSCRIPTION STATUS
06 Sep '23Ratnaveer Precision IPO overall subscription rate was 93.99 times the total available shares
Ratnaveer Precision IPO retail subscription rate was 54.01 times in the retail segment
Ratnaveer Precision IPO non-institutional investor subscription rate was 135.21 times in the non-institutional investor category
Ratnaveer Precision IPO Qualified Institutional Bidder subscription rate was 133.05 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
06 Sep 2023 (Day 3) | 54.01x | 135.21x | 133.05x |
05 Sep 2023 (Day 2) | 23.11x | 42.25x | 4.21x |
04 Sep 2023 (Day 1) | 7.61x | 9.01x | 0.05x |
Ratnaveer Precision FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 250.4 | 4,797.5 | -143.4 | -328.0 | 9.8% |
| FY22 | 94.8 | 4,269.4 | -155.1 | -282.9 | 6.8% |
| FY21 | 54.6 | 3,596.6 | 129.3 | 4.7 | 6.8% |
Ratnaveer Precision IPO SUBSCRIPTION STATUS DETAILS
Ratnaveer Precision had 16.8 M shares on offer
Ratnaveer Precision IPO offer price was in the range ₹93 - ₹98
Ratnaveer Precision IPO minimum Investment was ₹14700
Ratnaveer Precision IPO issue size was ₹ 1566.1 M - ₹ 1650.3 M
Ratnaveer Precision had a minimum lot size of 150 Shares per application
Ratnaveer Precision NUMBER OF SHARES ON OFFER
Ratnaveer Precision IPO IMPORTANT DATES
| Issue Open Date | 04 Sep 2023 |
| Issue close Date | 06 Sep 2023 |
| Allotment Date | 11 Sep 2023 |
| Refund Date | 12 Sep 2023 |
| Demat Account Credit Date | 11 Sep 2023 |
| Listing Date | 11 Sep 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Ratnaveer Precision Allotment Status | Exchange |
Ratnaveer Precision IPO subscription opened on 04 Sep 2023, and closed on 06 Sep 2023
IPO allotment for Ratnaveer Precision was finalized on Monday, 11 Sep 2023
IPO listing for Ratnaveer Precision was on NSE and BSE on Monday, 11 Sep 2023
Ratnaveer Precision IPO LISTING GAINS
| Issue Price (adjusted) | 98.0 |
| Listing Open Price | 123.2 |
| Listing Close Price | 129.3 |
| Listing Gain% | 25.7% |
| Current Gain% | 113.6% |
Ratnaveer Precision Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ratnaveer Precision Engineering Ltd. | 209.3 | 1015.1 | 22.1 | 0.6 | 1.3 | 9.6 | 5.1 | 1078.4 | 20.4 | 64.3 | 37.4 | 9.5 | 37.2 |
| APL Apollo Tubes Ltd. | 1984.6 | 55104.1 | 44.8 | 0.8 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1846.9 | 48719.5 | 21.1 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 520 | 15846.6 | 31.3 | 1.2 | 4.1 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 37 | 14456.7 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2720 | 6167 | 21.6 | 1.9 | 2.2 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
Ratnaveer Precision INFORMATION ON IPO ISSUE
About Ratnaveer Precision
Ratnaveer Precision Engineering was incorporated on February 20, 2002. The company specializes in manufacturing stainless steel products, including finished sheets, washers, solar roofing hooks, pipes, and tubes. Stainless steel is known for its high corrosion-resistant properties, making it a valuable and sought-after material for various applications.
Object of the Issue
- Funding working capital requirements of the company
- General corporate purposes
Ratnaveer Precision - PROMOTERS
| Name |
|---|
| Vijay Ramanlal Sanghavi |
Ratnaveer Precision Book Running Lead Manager
Unistone Capital Private Limited
mb@unistonecapital.com
Ratnaveer Precision Registrar to the Offer
Link Intime India Private Limited
ratnaveerprecision.ipo@linkintime.co.in
Ratnaveer Precision Strengths
Synergistic business model
The company has established a synergistic system of backward integration, in which it processes the waste generated during the manufacturing of its products to convert it back into raw material. This recycled material is then reused in the manufacturing process, contributing to sustainability and efficient resource utilization
Consistent financial performance
The company has transitioned from being a single-product manufacturer to a diversified multi-product manufacturing entity. It has showcased steady growth in both revenue and profitability, with a notable track record. Over the past 13 years, its revenue has achieved a Compound Annual Growth Rate (CAGR) of 14.54%, while its profits have shown a CAGR of 23.92%
Wide product portfolio
The company initially commenced its business operations by manufacturing stainless steel washers. Over time, it has expanded its product range to include finishing sheets, solar roofing hooks, tubes, and pipes. This diversification has significantly enriched the company's product portfolio
Ratnaveer Precision Risks
Dependent on few customers
The company relies heavily on a limited number of customers for a significant portion of its revenues. Additionally, it does not establish long-term agreements with these customers. Any inability to sustain these existing arrangements could potentially have a negative impact on the company's business
Dependent on west and north zone
A considerable portion of domestic sales originates from the western and northern zones. Any unfavourable developments in these markets could potentially have an adverse effect on the business
Negative cash flows
The company has had negative cash flows in connection with its operating, investing, and financing activities over the past three financial years. Any further negative cash flows in the future could have an adverse impact on its financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 29.8 crore, of 3,040,000 shares. It also consists of a fresh issue of Rs 135.2 crore.
The promoter of the company is Vijay Ramanlal Sanghavi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 93.0 - 98.0.
The IPO application opens on Sep 04, 2023 and closes on Sep 06, 2023.
The minimum lot size for the IPO is 150. The maximum lot size for the IPO is 1950.
For all category investors, the minimum application amount for this IPO is Rs. 14,700.0, the maximum value for this IPO is Rs 191,100.0.
This IPO will be allotted on Sep 11, 2023.
The refund will be credited to your account on Sep 12, 2023.
The allotted shares will be credited to your demat on Sep 11, 2023.
Ratnaveer Precision Engineering Ltd.’s shares listed on the stock exchanges on Sep 11, 2023.