September 11, 2023
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Ratnaveer Precision Engineering IPO GMP, details & review @ Chanakyanipothi.com India`s Oldest & the most Trusted Investment website. Operational since 8th December 1999, this is the Only Investment website in India, which has successfully completed 23 Years.
Listing Review: The scrip listed at Rs 123.20, compared to issue price of Rs. 98. Quite unimpressive listing, and below the expectation of grey market players
Ratnaveer Precision IPO Concise Guidance:
1) Very small IPO size, so huge oversubscription possible looking to IPO market euphoria.
2) Growing business, however sudden jump in the net profits just prior to IPO must not be ignored.
3) May consider GMP trends and then apply.
Ratnaveer Precision Engineering IPO Grey Market Premium
Allotted Application Rs. 5800/6000 
Premium: Rs.45
What is the Subscription Status of Ratnaveer Precision Engineering IPO?
On 6 September 2023 @ 5.00 (Day 3) (Closed)
Review: Very small size ipo and now trend improves on last day
QIB: 3368,000 Shares 133.05 T
NII(10L+): 1684,000 Shares 130.63 T
NII (<10L) 842,000 Shares 144.32 T
NII (Total) 2526,000 Shares 135.19 T
RII: 5894,000 Shares 53.93 T
Total: 1,17,88,000 Shares 93.95 T
Who is the promoter of Ratnaveer Precision Engineering IPO?
VIJAY RAMANLAL SANGHAVI
What is the business of Ratnaveer Precision Engineering?
Ratnaveer Precision Engineering Limited is a stainless steel (“SS”) product manufacturer focused on
producing finished sheets, washers, solar roofing hooks, pipes and tubes. Stainless steel is a value-added
product with high corrosion resistant properties.
It operates out of four manufacturing units, out of which two are located at GIDC, Savli, Vadodara,
Gujarat, (Unit-I and Unit-II) one is located at Waghodia, Vadodara, Gujarat (Unit-III) and the other one is
located at GIDC, Vatva, Ahmedabad, Gujarat (Unit-IV). Its manufacturing units are strategically located
with availability of transportation, which facilitates convenient transportation of its products.
It manufactures finishing sheets, washers and solar mounting hooks at its Unit I and SS pipes & tubes at
our Unit II. Unit III and Unit IV are dedicated for the backward integration process where Unit III is the
melting unit where it melts steel scrap and turn it into steel ingots and Unit IV is the rolling unit where flat
ingots are further processed to turn them into sheets which are the raw material for washers.
It is one of the few companies who has a backward integration model. Its products find application across various industries including automotive, solar power, wind energy, power plants, oil & gas, pharmaceuticals, sanitary & plumbing, instrumentation, electro mechanics, architecture, building & construction, electrical appliances, transportation, kitchen appliances, chimney liners, etc.
For more information, click www.ratnaveer.com
What is the object of Ratnaveer Precision Engineering IPO?
The Offer comprises the Fresh Issue and the Offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following
objects:
1. Funding working capital requirements of the Company; and
2. General corporate purposes
Ratnaveer Precision Engineering IPO GMP, Particulars & Guidance
| Ratnaveer Precision Engineering IPO Details | |
| IPO opens on | 4 Sept ,2023 |
| IPO closes on | 6 Sept ,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,68,40,000 Sh /Rs 165 Cr |
| * Fresh Issue | 1,38,00,000 Sh /Rs 135.24 Cr |
| * Offer for Sale | 30,40,000 Sh /Rs 29.79 Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 93-98 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 150 Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. in Cr |
| QIB (50 %) | 8420000 | 82.50 |
| NII (15 %) | 2526000 | 24.75 |
| RII (35 %) | 5894000 | 57.75 |
| Employees | X | – |
| Total Shares | 16840000 | 165 |
| Retail portion will be oversubscribed by | X Forms. | |
| How to apply in Ratnaveer Precision Engineering IPO ? | Net of RII discount | |
| Min Retail Application | 150 Sh | Rs. 14700 |
| Max Retail Application | 1950 Sh | Rs. 191100 |
| Small HNI (Min) application | 2100 Sh | Rs. 205800 |
| Small HNI (Max) application | 10200 Sh | Rs. 999600 |
| Big HNI Application | 10350 Sh | Rs. 1014300 |
| What is the timetable of Ratnaveer Precision Engineering IPO? | |
| IPO opens on | 4 Sept 2023 |
| IPO Closes on | 6 Sept 2023 |
| IPO Allotment on | 11 Sept 2023 |
| Refund Initiation | 12 Sept 2023 |
| Credit of Shares | 13 Sept 2023 |
| Listing on | 14 Sept 2023 |
| Registered Office of Ratnaveer Precision Engineering | |
| Plot no. E-77, G.I.D.C., Savli (Manjusar), Vadodara -391 775, Gujarat, India. |
|
| Who are the Lead Managers of Ratnaveer Precision Engineering IPO? Unistone Capital Pvt ltd |
|
| Registrar to IPO | |
| Link Intime India Pvt. Ltd. |
| Ratnaveer Precision Engineering IPO Financial & Analytical Ratios |
||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 364.05 | 5.46 | 1.59 | 10.15 |
| 2021-22 | 428.72 | 9.54 | 2.75 | 15.46 |
| 2022-23 | 481.14 | 25.04 | 7.26 | 29.12 |
| Book Value of the Share on 31.03.2023 | Rs. | 30.74 | ||
| BV of the Share after the FPO | Rs. | 49.92 | ||
| Offer Price at Cap | Rs. | 98 | ||
| Ratio Analysis | |
| Upper Price /last EPS | 13.50 |
| Upper Price/Book Value Ratio | 3.19 |
| Upper Price/BV after IPO | 1.96 |
Peer Comparison.
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| The IPO Company | 10 | 480 | 13.50 |
| MM Forgings | 10 | 1395 | 18.08 |
| Menon Bearings | 1 | 217 | 23.84 |
| Venus Pipes | 10 | 552 | 65.73 |
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Chittorgarh pe EMS ka GMP 80 dikha rha h ,,,,,and chanakyanipothi pe GMP 98 show kar rha h ,,,, but actual GMP kya chal rha h kaise pta kare???? ……..
Actually there are no trades for this counter. So rates may very in absence of actual trades since long.