Ratnaveer Precision Engineering IPO Lists at Premium

Ratnaveer Precision Engineering IPO Lists at Premium. Image/ RPE Website

• NSE Listing Price: Ratnaveer Precision Engineering Ltd’s shares made their stock market debut on Monday, listing at ₹123.20 per share on the NSE. This marked a significant premium of 25.7% over the issue price.
• BSE Listing Price: On the BSE, the listing price for Ratnaveer shares was ₹128 per share.

IPO Subscription Period and Anchor Investor Investment

• The Ratnaveer Precision Engineering IPO was open for subscription from September 4 to September 6.
• Anchor investors had shown substantial interest in the IPO, investing about ₹49.5 crore on September 1.

IPO Details

• The IPO price band was set in the range of ₹93 to ₹98 per equity share, with a face value of ₹10 each.
• The lot size for the Ratnaveer IPO was 150 equity shares, with multiples of 150 equity shares thereafter.
• The IPO comprised a fresh issue of 13,800,000 shares, totaling ₹135.24 crore, and an offer for sale (OFS) portion of 3,040,000 shares, valued at ₹29.79 crore, sold by the promoter selling shareholder Vijay Ramanlal Sanghavi.
• The total issue size for the Ratnaveer IPO was ₹165.03 crores.

Utilization of Proceeds

• The net proceeds from the fresh issue will be utilized for funding the company’s working capital requirements and general corporate purposes.

Lead Managers and Registrar

• Unistone Capital Private Ltd served as the Book Running Lead Manager (BRLM) for the IPO.
• Link Intime India Private Ltd acted as the registrar for the offer.

Grey Market Premium (GMP)

• The Grey Market Premium (GMP) for Ratnaveer Precision Engineering IPO stood at +52 on Monday, indicating that shares were trading at a premium of ₹52 in the grey market compared to the issue price.
• Considering the upper end of the IPO price band and the current GMP, the estimated listing price for Ratnaveer Precision shares was ₹150 apiece, reflecting a 53.06% premium over the IPO price of ₹98.
• The GMP can vary, with the lowest reported at ₹0 and the highest at ₹60, highlighting investor willingness to pay more than the issue price.

The strong listing and premium in the grey market signal positive investor sentiment and enthusiasm for Ratnaveer Precision Engineering Ltd’s shares.