Published : August 25, 2023
Established in 2002, Ratnaveer Precision Engineering Limited is a prominent manufacturer specializing in the production of finished stainless-steel sheets, washers, solar roofing hooks, pipes, and tubes.
The company is dedicated to crafting an array of stainless-steel products catering to various industries such as automotive, solar power, wind energy, power plants, oil & gas, pharmaceuticals, sanitation & plumbing, instrumentation, electromechanics, architecture, construction, electrical appliances, transportation, kitchen appliances, chimney liners, and more.
Ratnaveer Precision Engineering operates across four manufacturing units. Among these, Unit-I and Unit-II are situated in GIDC, Savli, Vadodara, Gujarat, while Unit-III is located in Waghodia, Vadodara, Gujarat. Additionally, Unit-IV is positioned in GIDC, Vatva, Ahmedabad, Gujarat. The manufacturing capabilities encompass SS finishing sheets and washers at Unit I, and SS pipes & tubes at Unit II. Meanwhile, Unit III and Unit IV are devoted to the vital backward integration process. Unit III conducts steel melting, transforming scrap into steel ingots. On the other hand, Unit IV serves as the rolling unit, processing flat ingots into raw SS sheets that form the basis for SS washers.
In a strategic move, Ratnaveer aims to enhance its selection of SS washers by incorporating circlips into its product lineup. Currently, the company offers an extensive range of over 2,500 SKUs for SS washers, encompassing various types such as inner ring washers, spring washers, nord lock washers, retaining rings, internal tooth washers, and external tooth washers, all available in diverse sizes and specifications. To facilitate this expansion, the company secured a plot of land adjacent to Unit I, located at E-78, GIDC Industrial Estate, Savli, Dist. Vadodara, Gujarat, under a 99-year lease from GIDC.
In the fiscal year 2023, Ratnaveer achieved a notable milestone, achieving a comprehensive revenue from operations amounting to Rs. 4,797.30 million. This encompassed both domestic and export turnovers, with domestic sales contributing Rs. 3,875.39 million and exports yielding Rs. 921.91 million.
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Ratnaveer Precision Engineering Limited has a robust leadership team comprising six directors and two key management personnel. The directors are Vijay Ramanlal Sanghavi (appointed on Feb 20, 2002), Ankita Dineshbhai Soni (appointed on Dec 24, 2018), Babulal Sohanlal Chaplot (appointed on Jul 1, 2019), Bharatbhai Kanchanlal Shah (appointed on Apr 16, 2022), Sreeram Vishwanathan Rishinaradamangalam (appointed on Apr 16, 2022), and Binita Verdia (appointed on Sep 7, 2022). The key management personnel include Prerana Rajeshbhai Trivedi (appointed on Aug 1, 2022) and Vijay Ramanlal Sanghavi, who also serves as a key management personnel from Sep 7, 2022. This cohesive team contributes to the company’s growth and operational excellence.
The company’s primary aim for the proceeds from the issue is to finance the following objectives:
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| IPO Open Date | Monday, 4 September 2023 |
| IPO Close Date | Wednesday, 6 September 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per share |
| IPO Price | ₹93 to ₹98 per share |
| Market Lot | 150 shares |
| Listing At | BSE, NSE |
| Total Issue Size | 16,840,000 shares (aggregating up to ₹165.03 Cr) |
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The Initial Public Offering (IPO) consists of 138 lakh shares through a fresh equity issuance and 30.4 lakh shares through an offer for sale (OFS). The allocation is divided such that 50% of the offering is earmarked for qualified institutional buyers, 15% is allotted to non-institutional investors, and the remaining 35% is reserved for retail investors.
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The individual responsible for promoting the company is Mr. Vijay Ramanlal Sanghavi.
| Pre Issue Share Holding | 86.3% |
| Post Issue Share Holding | 55.48% |
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 255.92 | 308.63 | 389.05 |
| Revenue | 364.05 | 428.47 | 481.14 |
| Profit After Tax | 5.46 | 9.48 | 25.04 |
| Net Worth | 56.58 | 65.97 | 106.05 |
| Reserves and Surplus | 52.32 | 61.71 | 71.16 |
| Total Borrowing | 150.76 | 190.73 | 229.99 |
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Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ratnaveerprecision.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Ratnaveer Precision Engineering Limited
Plot no. E-77, G.I.D.C.,
Savli (Manjusar),
Vadodara – 391 775
Phone: +91 8487878075
Email: cs@ratnaveer.com
Website: https://ratnaveer.com/
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