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Ratnaveer Precision Engineering IPO

Ratnaveer Precision Engineering IPO

  • Status: Closed
  • RHP:
  • ₹ 13,950 / 150 shares

    Minimum Investment

IPO Details

  • Open Date

    04 Sep 2023

  • Close Date

    06 Sep 2023

  • IPO Price Range

    ₹ 93 to ₹ 98

  • IPO Size

    ₹ 165.03 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    14 Sep 2023

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IPO Timeline

Ratnaveer Precision Engineering IPO Subscription Status

Last Updated: 06 September 2023 7:02 PM by 5Paisa

Ratnaveer Precision Engineering Limited IPO is all set to open from 4th September to 6th September 2023. The company is engaged in the business of manufacturing stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes. The IPO includes a fresh issue of 13,800,000 equity shares worth ₹135.24 cr and an Offer For Sale (OFS) of 3,040,000 equity shares worth ₹29.79 cr. The total issue size is ₹165.03 cr. The share allotment date is 11th September, and the IPO will be listed on 14th September on the stock exchanges. The price band is ₹93 to ₹98 per share and the lot size is 150 shares.    

Unistone Capital Private Limited is the book-running lead manager for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of Ratnaveer Precision Engineering IPO:

Ratnaveer Precision Engineering Limited plans to utilize the raised capital from IPO to:

●    Meet working capital requirements 
●    Fund general corporate purposes 
 

Ratnaveer Precision Engineering IPO Video:

 

Established in 2002, Ratnaveer Precision Engineering Limited specializes in manufacturing stainless steel ("SS") products, including finished sheets, washers, solar roofing hooks, pipes, and tubes. The company's operations are spread across 4 manufacturing units. Two of these units, namely Unit-I and Unit-II, are located at GIDC, Savli, Vadodara, Gujarat. Another, designated as Unit-III, is located at Waghodia, Vadodara, Gujarat, while the fourth unit, Unit-IV, is positioned at GIDC, Vatva, Ahmedabad, Gujarat.

The diverse product range from Ratnaveer Precision Engineering is used in multiple industries, including automotive, solar power, wind energy, power plants, oil & gas, pharmaceuticals, sanitary & plumbing, instrumentation, electromechanics, architecture, building & construction, electrical appliances, transportation, kitchen appliances, and chimney liners. These products cater to both commercial and residential segments, being distributed within India as well as overseas.

Ratnaveer Precision Engineering plans to expand its collection of stainless-steel washers by including circlips in its offerings. At present, the company provides a diverse range of over 2,500 distinct stock-keeping units (SKUs) of stainless-steel washers. To facilitate this expansion, the company has already leased land at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat for a period of 99 years. It is also adjacent to Unit I.

Peer Comparison
●    M.M. Forgings Limited
●    Venus Pipes & Tubes Limited
●    Menon Bearings Limited 

For More Information:
Webstory on Ratnaveer Precision IPO
Ratnaveer Precision IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 479.74 426.93 359.66
EBITDA 47.02 29.05 24.32
PAT 25.04 9.47 5.45
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 389.04 308.63 255.92
Share Capital 34.89 4.26 4.26
Total Borrowings 282.99 242.65 199.34
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -14.33 -15.50 12.93
Net cash from / (used in) investing activities -17.01 -11.61 -11.15
Net cash flow from / (used in) financing activities 42.03 28.04 -0.998
Net increase (decrease) in cash and cash equivalents 10.67 0.92 0.78


Strengths

1.    The company has shown consistent financial performance. 
2.    One of the few companies that has a backward integration model, which has helped it maximize the returns on investments.
3.    Products find application across various industries. 
4.    Diversified product mix and a wide customer base. 
5.    Experienced management team. 
 

Risks

1.    Market demand for steel, its volatility, and overall economic conditions can impact the company’s business. 
2.    Dependent on domestic sales in western and northern zones for revenue, which can create concentration risk. 
3.    Higher working capital requirements.
4.    It is a high-volume, low-margin business. 
5.    Negative cash flow in the past. 
6.    Operates in a highly competitive industry. 
 

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FAQs

The minimum lot size of Ratnaveer Precision Engineering IPO is 150 shares and the investment required is ₹13,950.

₹93 to ₹98.
 

Ratnaveer Precision Engineering IPO is open from 4th September to 6th September 2023.
 

 The total size of Ratnaveer Precision Engineering IPO is ₹165.03 cr. 

The share allotment date of Ratnaveer Precision Engineering IPO is 11th September.

The Ratnaveer Precision Engineering IPO will be listed on the 14th of September.

Unistone Capital Private Limited is the book-running lead manager for Ratnaveer Precision Engineering IPO.

Ratnaveer Precision Engineering Limited plans to utilize the raised capital from IPO to:

1.    Meet working capital requirements 
2.    Fund general corporate purposes  
 

To apply for Ratnaveer Precision Engineering IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Ratnaveer Precision Engineering Limited IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.