Ratnaveer Precision Engineering Limited is set to launch an IPO of Rs. 165.03 crore which will open on September 04, 2023, and close on September 06, 2023. Through this public offer company wants to raise Rs. Crore from the primary market and will bring Rs. 135.24 crore fresh issue and Rs.29.79 crore offer for sale (OFS), The company has a fixed IPO price band at Rs. 98, lot size of 150 shares, and listing on September 14, according to the preliminary papers filed to the capital market regulator SEBI.
RATNAVEER PRECISION ENGINEERING is the manufacturer and supplier of Stainless steel products, primary focused on finished sheets, washers, solar roofing hooks pipes and tubes, etc. The company products are used in both commercially and residentially within India and overseas. The company has four manufacturing units all located in the state of Gujrat, these units are divided products/segment-wise. These units are strategically located with availabilities of transportation which helps for products. In the fiscal year 2023, the company generated Rs. 387.54 crore (80.79%) in revenue from its home country and Rs. 92.12 crore (19.21%) from export operations. In the fiscal year 2023, the company generated Rs. 481.14 Crore in revenue and Rs. 428.47 crore in the fiscal year 2022.
Company products find applications across various industries like automotive, solar power, wind energy, power plant, oil & gas, sanitary & plumbing etc.
#Object of Ratnaveer Precision Engineering IPO
The company proposed to use the IPO Funds for the below-mentioned purposes:
- Rs. 85 crore of the total net proceeds fund will be used for working capital requirements.
- The Rest funds will be used for other general corporate purposes.
#Ratnaveer Precision Engineering Company Strength
- Synergistic business model focused on backward integration.
- Consistent financial performance
- Wide product portfolio and multiple design
- Customer diversification
- R&D Set up for new product development.
- Experienced and senior dedicated management of the company.
#Ratnaveer Precision Engineering Forward Statements
- Engaged in the highly competitive business.
- Change in technology
- Inability to collect dues from clients/customers.
- Inability to identify/effectively respond to evolving preferences/trends.
- No long-term contracts with the clients/customers.
#Ratnaveer Precision Engineering IPO Review & Rating
| Issue Size | Rs. 165.03 Crore (Book Built) |
| Issue Price | Rs. 93-98 |
| Lot size | 150 shares |
| Market Capitalization | Rs. 475.29 Crore |
| Profit – 2023 | Rs. 25.14 Crore |
| Total Assets – 2023 | Rs. 389.05 Crore |
| Debt/Equity ratio | 2.17 |
| NAV Value | Rs. 30.74 per share |
| Pre-Promoter holding | 83.60% |
| Listing on Stock Exchanges | BSE & NSE (Mainboard) |
| IPO Deliver Rating | Four |
#Ratnaveer Precision Engineering IPO Dates, Price Band, Lot Size & Details
| Type of issue | Fresh and Offer for sale (Book Built Issue) |
| Issue Size | 165.03 |
| Price band | Rs. 93-98 per share |
| Lot size | 150 share |
| Face Value | Rs. 10 per share |
| IPO Open | September 04, 2023 |
| IPO Close | September 06, 2023 |
| IPO Allotment Date | September 11, 2023 |
| Refund Date | September 12, 2023 |
| Listing Date | September 14, 2023 |
| Fresh issue (FOR PUBLIC) | Rs. 135.24 crore (13,800,000 equity shares) |
| Offer for sale (FOR PROMOTER) | Rs. 29.79 crore (3,040,000 equity shares) |
#Ratnaveer Precision Engineering Financials Review(millions)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022 & 2021.
| Category | March 31, 2023 | March 31, 2022 |
March 31, 2021
|
| Total Revenue | 4,811.48
|
4,284.72 | 3,640.51 |
| Profit after Tax (PAT)
|
250.44 | 94.76 | 54.59 |
| Net worth | 1,060.54 | 659.74 | 565.77 |
| Property and Plants | 348.52 | 327.93 | 267.19 |
| Total Borrowings
|
2,299.89 | 1,907.27 | 1,507.60 |
#Ratnaveer Precision Engineering IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022 & 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Basic EPS | 7.26 | 2.75 | 1.59 |
| Diluted EPS | 7.26 | 2.75 | 1.59 |
| Debt/Equity | 2.17 | 2.89 | 2.67 |
| Industries P/E Ratio | 34.42 Average | – | – |
| RoNW | 29.12% | 15.46% | 10.15% |
| NAV | 30.74 per share | 19.20 per share | 16.21 per share |
#Ratnaveer Precision Engineering IPO comparison with Listed Industry peers
| Company | NAV | EPS | RoNW | P/E |
| M.M Forgings Ltd. | 285.31 | 52.02 | 18.23 | 20.26 |
| Menon Bearings Ltd | 23.79 | 5.84 | 24.47 | 23.07 |
| Venus Pipes & Tubes Ltd. | 158.75 | 22.60 | 9.83 | 59.93 |
#Ratnaveer Precision Engineering Company Promoter Details
The company has only one promoter Mr. Vijay Rananlal Sanghv.
- Pre-offer shareholding 83.60% (29,008,000 equity shares) Post-offer shareholding: 55.48%
- The average cost of acquisition for promoter-selling shareholders: Rs. 0.31 & 0.80 per equity share.
#Ratnaveer Precision Engineering IPO Pre-offer and Post-Offer Promoters shareholding
Pre-offer promoter (1) & promoter group (02) shareholding 86.30%
Post-offer promoter & promoter group shareholding 55.48%
#Ratnaveer Precision Engineering IPO Reservation
QIB: Not more than 50% of the offer size i.e 8,420,000 Equity shares
NII: Not less than 15% of the offer size i.e 2,526,000 Equity shares
Retail investor (RII): Not less than 35% of the offer size i.e 5.895,000 equity shares
#Ratnaveer Precision Engineering IPO – DRHP & RHP
Draft Red Herring Prospectus (DRHP) – Click to view/download
Red Herring Prospectus (RHP) – Click to view/download
#Ratnaveer Precision Engineering IPO Registrar
Link Intime India Private Limited
Regd. C -101, 1st Floor, 247 Park Lal Bahadur Shastri Marg, Vikhroli (West) Mumbai – 400 083
Tel: +91 -022 49186200 Email: ratnaveerprecision.ipo@linkintime.co.in
Website: www.linkintime.co.in
#Ratnaveer Precision Engineering IPO lead manager
Unistone Capital Private Limited
Regd. Office: A/ 305, Dynasty Business Park, Andheri-Kurla Road, Andheri East, Mumbai – 400 059
Tel: +91-982005753, Email: Email: mb@unistonecapital.com
Website: www.unistonecapital.com
#Ratnaveer Precision Engineering IPO Application
Option-1 Apply for IPO through Internet Banking
- Log into your bank account.
- In invest Tab, you will see ASBA, click on it.
- Choose to apply for IPO & Select the ongoing IPO “Ratnaveer Precision Engineering Limited”
- Enter the basic detail like bid quantity, price, PAN, etc. then proceed with payment.
- After the above steps the respective amount will get blocked till the allotment date and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through Broker
- Log into your broker account (Upstox/Zerodha etc.)
- Click on the IPO tab and select the ongoing IPO “Ratnaveer Precision Engineering Limited”
- Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
- Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or get refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
- Visit the nearest branch of your bank
- Fill out the ASBA form and submit it with KYC details
- Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or get refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
#Ratnaveer Precision Engineering Company Details
Ratnaveer Precision Engineering Limited (Registered on February 20, 2002)
(Formerly known as Ratnaveer Metals Limited)
Regd. Office: Plot no. E-77, G.I.D.C., Savli (Manjusar), Vadodara – 391 775, Gujarat
Tel: +91-02667264594. & Email: info@ratnaveer.com
Website: www.ratnaveer.com
Investor Grievances/Compliance Officer: Mr. Prerana Rajeshbhai Trivedi
Email: cs@ratnaveer.com
Subsidiary Company: No
#Ratnaveer Precision Engineering Company Board
Mr. Vijay Ramanlal Sanghvi (45) Chairman & Managing Director
Mr. Babulal Sohanlal Chaplot (79) Whole-time Director
Mrs. Binita Verdia (47) Non-Executive & Independent Director
#Ratnaveer Precision Engineering IPO – Frequently Asked Questions (FAQ’s)
Q-1 what is Ratnaveer Precision Engineering IPO Open date?
Ans: Ratnaveer Precision Engineering IPO opening date is September 04 – September 06, 2023.
Q-2 what is Ratnaveer Precision Engineering IPO Close date?
Ans: Ratnaveer Precision Engineering IPO opening date is September 06, 2023.
Q-3 what is Ratnaveer Precision Engineering IPO Listing date?
Ans: Ratnaveer Precision Engineering IPO opening date is September 14, 2023.
Q-4 what is Ratnaveer Precision Engineering IPO Minimum investment amount?
Ans: Ratnaveer Precision Engineering IPO minimum investment amount is Rs. 14,700.
Q-5 what is Ratnaveer Precision Engineering IPO offer issue Size?
Ans: Ratnaveer Precision Engineering offer an issue size of Rs. 165.03 crores, which comprise fresh issue and offer for sale.
Q-6 what is Ratnaveer Precision Engineering IPO Price Band?
Ans: Ratnaveer Precision Engineering IPO price band is Rs. 93 – 98 per share.
Q-7 Is any similar segment/sector listed company in India?
Ans: Yes.
Q-8 Is this mainboard IPO or SME IPO?
Ans: Ratnaveer Precision Engineering IPO is a mainboard IPO.
Q-9. what is Ratnaveer Precision Engineering’s promoter name?
Ans: Ratnaveer Precision Engineering’s Promoter Company name is Mr. Vijay Ramanlal Sanghvi.
Q-10 Ratnaveer Precision Engineering IPO Rating by IPO Deliver Team?
Ans: Four Rating