Ratnaveer Precision IPO: Ratnaveer IPO raises ₹49.5 crore from anchor investors; details herePersonal FinanceRatnaveer Precision IPO: Ratnaveer IPO raises ₹49.5 crore from anchor investors; details here

Ratnaveer Precision IPO: Ratnaveer IPO raises ₹49.5 crore from anchor investors; details here


Ratnaveer IPO anchor investors: Ratnaveer Precision Engineering IPO has raised about 49.5 crore from anchor investors today. Ratnaveer Precision Engineering IPO opens for subscription on Monday, September 4, and closes on Wednesday, September 6. The allocation to anchor investors for Ratnaveer Precision Engineering IPO was scheduled for today (Friday, September 1).

The company reported to the stock exchanges that it had allotted 50,52,000 shares to anchor investors on Friday at a price of 98 per share.

“The Board of Directors of the Company and Promoter Selling Shareholder at their meeting held on September 01, 2023, in consultation with the Book Running Lead Manager to the offer, has finalised allocation of 50,52,000 equity shares, to Anchor Investors at anchor investor allocation price of 98 per Equity Share (including share premium of 88 per Equity Share),” said the company in an exchange filing.

Also Read: Rishabh Instruments IPO: Issue subscribed over 31 times on day 3; QIBs steal the show

Societe Generale, Sixteenth Street Asian Gems Fund, Saint Capital Fund, Coeus Global Opportunities Fund, and Leading Light Fund VCC – The Triumph Fund were among the domestic and foreign investors who took part in the anchor book issue. 

Ratnaveer IPO price band has been fixed in the range between 93 to 98 per equity share of face value of 10 each. Ratnaveer IPO lot size is 150 equity shares and in multiples of 150 equity shares thereafter.

Ratnaveer Precision IPO cap price shall be at least 105% of the floor price and shall not exceed 120% of the floor price, and the floor price is to be determined and justified by the company and the promoter selling shareholder in consultation with the Book Running Lead Manager (BRLM), the company said in its Red Herring Prospectus (RHP).

Also Read: Pramara Promotions IPO: GMP, subscription status on day 1, other key details to know

Ratnaveer Precision Engineering IPO details

Ratnaveer Precision IPO is made up of fresh issue of 13,800,000 shares that totals to 135.24 crore and offer for sale (OFS) portion consists of 3,040,000 shares of 10, which aggregates to 29.79 crore sold by promoter selling shareholder Vijay Ramanlal Sanghavi. Ratnaveer IPO total issue size is 165.03 crores.

The net proceeds from the fresh issue will be utilised to fund working capital requirements of the company, and general corporate purposes.

Unistone Capital Private Ltd is the BRLM of the offer. Link Intime India Private Ltd is the offer’s registrar.

Ratnaveer IPO GMP today

Ratnaveer Precision IPO GMP today or grey market premium is +50 similar to the previous trading session. This indicates Ratnaveer Precision share price were trading at a premium of 50 in the grey market on Friday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ratnaveer Precision share price is 148 apiece, which is 51.02% higher than the IPO price of 98.

According to topsharebrokers.com, the lowest GMP is 0, while the highest GMP is 50.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Also Read: Sahaj Fashions IPO allotment finalised today: GMP, here’s how to check allotment status

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Updated: 01 Sep 2023, 10:04 PM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




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