Ratnaveer Precision Engineering IPO: The initial public offer (IPO) of Ratnaveer Precision Engineering, which opened on September 6, will conclude on Wednesday. The IPO of the stainless steel products maker was subscribed 21.77 times on Day 2 (Tuesday, September 5) of the bidding process. Ratnaveer Precision Engineering IPO subscription status on Tuesday (Day 2)

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Ratnaveer Precision Engineering's IPO received bids for 25,66,70,250 crore shares against 1,17,88,000 shares on offer. Qualified Institutional Buyers (QIBs) subscribed the IPO 4.21 times. Non-institutional investors' part was subscribed 42.22 times, while the quota for Retail Individual Investors (RIIs) was subscribed 23.05 times.

The Ratnaveer Precision Engineering IPO is a Book Built Issue. The Ratnaveer Precision Engineering IPO has a price band of Rs 93 to Rs 98 per share. It will be listed on BSE and NSE on September 14, Thursday.

Here are some important things about the upcoming Ratnaveer Precision Engineering IPO:

Important dates:

The date for the basis of the allotment of the shares is September 11. Winning bidders are likely to get the shares credited to their accounts on September 13.

Fund utilisation

The company plans to utilise the proceeds to fund the working capital requirements of the company and for general corporate purposes.

Should you subscribe the Ratnaveer Precision Engineering Limited IPO?

Here’s what Anil Singhvi suggests

Zee Business Managing Editor Anil Singhvi recommends buying the IPO as it is likely to give "big listing gains". Here is a list of key points about the company highlighted by him:

Positives

Experienced promoters
Strong growth track record
Investors are attracted to small-priced, small-size IPO
Very attractive valuations

Negatives

High debt: The equity ratio is above 2 times
Increasing trade receivables

What does Ratnaveer Precision Engineering do?

Ratnaveer Precision Engineering manufactures stainless steel-based products for automotive, solar power, wind energy, power plants, oil and gas, pharmaceuticals, sanitary and plumbing, instrumentation, electro mechanics, architecture, building & construction, electrical appliances, transportation, kitchen appliances, chimney liners, and other industries.