Ratnaveer Precision Engineering IPO
Ratnaveer Precision Engineering IPO — date, price band, lot size & details 2023
Ratnaveer Precision Engineering listed on 11 Sep 2023 at ₹123.2, 25.7% above the ₹98 issue price.
Ratnaveer Precision Engineering makes stainless steel finished sheets, washers, solar roofing hooks, pipes and tubes from four units in Gujarat. Its total income was Rs 481.14 crore in FY2023.
Stock price
Ratnaveer Precision Engineering is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 04 Sep 2023
- Close 06 Sep 2023
- Allotment 07 Sep 2023
- Refund/credit 08 Sep 2023
- Listing 11 Sep 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 4 to 6 Sep, 2023 |
|---|---|
| Price Band | ₹93 – ₹98 |
| Face Value | ₹10 |
| Lot Size | 150 Shares |
| Issue Size | ₹165.03 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,700 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 150 shares at the ₹98 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 150 | ₹14,700 |
| Retail (max) | 13 | 1,950 | ₹1,91,100 |
| S-HNI (min) | 14 | 2,100 | ₹2,05,800 |
| S-HNI (max) | 68 | 10,200 | ₹9,99,600 |
| B-HNI (min) | 69 | 10,350 | ₹10,14,300 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 5.46 crore in FY2021 to Rs 25.04 crore in FY2023.
- 02Total income rose from Rs 364.05 crore in FY2021 to Rs 481.14 crore in FY2023.
- 03The pre-issue P/E was 13.57 at the upper band of Rs 98, based on EPS of Rs 7.22.
- 04Rs 135.24 crore of the issue was fresh capital, mostly for working capital.
- 05Its 4 units cover melting and rolling as well as finished products.
Risks · 5
- 01Total borrowing was Rs 229.99 crore on 31 March 2023, and the source puts debt to equity at 2.17.
- 02Margins are thin, and the source puts the PAT margin at 5.21%.
- 03Stainless steel and scrap prices swing, which can hit profit quickly, as seen when profit was only Rs 9.48 crore in FY2022.
- 04All 4 units are in Gujarat, so a regional disruption could hit output.
- 05Promoter holding fell from 86.3% before the issue to 55.48% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Ratnaveer Precision Engineering offer document.
| Metric | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 389.05 | 308.63 | 255.92 |
| Total Income | 481.14 | 428.47 | 364.05 |
| Profit After Tax | 25.04 | 9.48 | 5.46 |
| NET Worth | 106.05 | 65.97 | 56.58 |
| Reserves and Surplus | 71.16 | 61.71 | 52.32 |
| Total Borrowing | 229.99 | 190.73 | 150.76 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Ratnaveer Precision Engineering RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Ratnaveer Precision Engineering IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹7.22 | ₹5.16 |
| P/E Ratio (x) | 13.57 | 18.99 |
| Market Cap at Offer Price (₹ Cr) | ₹339.88 | ₹475.57 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹98 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹115.02 Cr of the issue is earmarked to named objects.
About the company
Its products serve automotive, solar and wind energy, power plants, oil and gas, pharmaceuticals, plumbing, construction, appliances and other industries.
It has four manufacturing units in Gujarat. Units I and II at GIDC Savli, Vadodara make sheets, washers, solar hooks, pipes and tubes. Unit III at Waghodia, Vadodara melts steel scrap into ingots, and Unit IV at GIDC Vatva, Ahmedabad rolls the ingots, giving it backward integration.
The IPO was Rs 165.03 crore, with Rs 135.24 crore of fresh issue and Rs 29.79 crore of offer for sale by the promoter. Rs 85.00 crore was planned for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Ratnaveer Precision Engineering IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Unistone Capital
17 issues handled (15 mainboard, 2 SME)Best listing: Sigachi Industries (+249.7%). Weakest: Fabtech Technologies (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Ratnaveer Precision Engineering?
The current Grey Market Premium is ₹55, or 56% over the issue price.
What is the Ratnaveer Precision Engineering IPO price band?
₹93 to ₹98, on a face value of ₹10.
When is the allotment?
The basis of allotment is 7 September 2023, with listing on 11 September 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
