Ratnaveer Engineering IPO: Focus shifts to allotment as SEBI's T+3 norms starts to roll out
₹165.03 crore. Ratnaveer Precision Engineering IPO opened for subscription on Monday, September 4, and closed on Wednesday, September 6. On day 3, Ratnaveer Precision IPO subscription status was 93.99 times.
On day 1 and 2, the IPO's response was quite consistent, and by day 3, the IPO had received a decent amount of subscriptions. Some investors who did not wish to be named claimed that they had started receiving debit messages for the Ratnaveer IPO. However, the registrar's website, Link Intime India Private Ltd, does not yet reflect the finalised allocation information.
Initially, Ratnaveer IPO basis of allotment of shares was to be finalised on Monday, September 11 and the company was to initiate refunds on Tuesday, September 12. Investors must keep an eye out for the final dates of refunds and listing, as the company seems to have switched to T+3 listing norm. The Securities and Exchange Board of India (SEBI) recently announced that it will soon switch to a T+3 listing format.
On August 8, 2023, SEBI announced that the post-IPO share listing period would be shortened from six to three days. Starting on September 1, 2023, this modification will be voluntary for all initial public offers and will become mandatory for all subsequent issues on December 1, 2023. Both issuers and investors are anticipated to benefit from this change.
Read more on livemint.com
