Ratnaveer Precision Engineering Limited Launches IPO Amidst High Market Interest

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The IPO of Ratnaveer Precision Engineering Limited was launched on Sepetember 4, 2023 and will remain open for bidding until Wednesday. This engineering firm has set the price range for its IPO at ₹93 to ₹98 per equity share, with the goal of raising ₹165.03 crore through this public offering. The company plans to list the book build issue on both the BSE and NSE. In the meantime, the company's shares are currently being traded on the unlisted stock market. 

Here are some key details about the Ratnaveer IPO:

• 1.   Ratnaveer IPO Price: The price band for the book build issue is set at ₹93 to ₹98 per equity share.
• 2.   Ratnaveer IPO Size: The company aims to raise ₹165.03 crore from this public offering.
• 3.   Ratnaveer IPO Lot Size: Investors have the option to apply in lots, with each lot comprising 150 shares of the company.
• 4.   Ratnaveer IPO Allotment Date: Share allocation is expected to be finalized on September 11, 2023.
• 5.   Ratnaveer IPO Registrar: Link Intime India Private Ltd has been appointed as the official registrar of the IPO.
• 6.   Ratnaveer IPO Listing: The company plans to list the book build issue on both the NSE and BSE.
• 7.   Ratnaveer IPO Listing Date: The shares of Ratnaveer Precision Engineering Limited are anticipated to be listed on September 14, 2023.

Regarding the IPO review, Avinash Gorakshkar, Head of Research at Profitmart Securities, has recommended a 'subscribe' rating for the book build issue. He highlighted that Ratnaveer Precision Engineering Limited specializes in manufacturing stainless steel products such as finished sheets, washers, solar roofing hooks, pipes, and tubes. Stainless steel is known for its high corrosion resistance due to higher levels of chromium and other alloy elements, making it a valuable product with superior aesthetic appeal and a longer lifespan compared to traditional steel. These attributes have contributed to the growing popularity of stainless steel worldwide.