Ratnaveer Precision Engineering IPO to open on Monday. Here are 10 things to know about the offer

Ratnaveer Precision Engineering is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes and tubes. Stainless steel is a value-added product with high corrosion resistant properties.

1. What is the business overview of Ratnaveer Precision Engineering?
   Ratnaveer Precision Engineering is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes and tubes. Stainless steel is a value-added product with high corrosion resistant properties.
2. What is the industry overview of Ratnaveer Precision Engineering?
   The Indian stainless-steel sector, the second-largest producer (in 2022) and consumer in the world, has a total manufacturing installed capacity of more than 6.5 mn tons of stainless steel annually. The past four-year data reveals that the country’s stainless steel production in FY19 touched a level of 5.10 million tonnes.
3. What is the size of the Ratnaveer Precision Engineering IPO?
   The IPO comprises fresh equity issue of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares.
4. Who are the selling shareholders under the OFS?
   Under the OFS, promoter Vijay Ramanlal Sanghavi will sell 30.4 lakh shares.
5. What is the price band for the Ratnaveer Precision Engineering IPO?
   The company has fixed a price band of Rs 93-98 per share and investors can bid for a minimum of 150 shares in one lot and in multiples thereafter.
6. What is the structure of the Ratnaveer Precision Engineering IPO?
   About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 35% for retail investors.
7. How is the financial performance of the Ratnaveer Precision Engineering IPO?
   For the year ended March 2023, the company clocked a total income of Rs 481 crore and a profit after tax of Rs 25 crore. EBITDA for the year stood at Rs 47 crore, with margins of 9.8%.
8. What are the objectives of the Ratnaveer Precision Engineering IPO?
   The proceeds from the fresh issue will be utilised towards funding working capital requirements and other general corporate purposes.
9. What is the current GMP of Ratnaveer Precision Engineering?
   According to market analysts, the current GMP of Ratnaveer Precision Engineering is Rs 50 in the unlisted market.
10. Who are the book-running lead managers for the Ratnaveer Precision Engineering IPO?
    Unistone Capital is acting as the sole book-running lead manager to the issue, while Link Intime India is the registrar.

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