Ratnaveer IPO: Issue subscribed 5.76 times on day 1; NII, retail portion oversubscribed
ipo subscription status: Ratnaveer IPO was subscribed 5.76 times on day 1. Ratnaveer Precision Engineering IPO opened today for subscription today (Monday, September 4), and will close on Wednesday, September 6. Ratnaveer IPO received positive response from retail investors and non-institutional investors (NIIS) on day 1.
Qualified institutional buyers did not respond much to the issue on the first day. Retail and NII portion were oversubscribed subscribed on day 1. Ratnaveer IPO's retail investors portion was subscribed 7.63 times, NII portion was subscribed 9.02 times, and QIBs portion was subscribed 5%.
Ratnaveer Precision IPO has received bids for 6,79,15,350 shares against 1,17,88,000 shares on offer, according to data from the BSE. Ratnaveer IPO's retail investors' portion received bids for 4,49,80,050 shares against 58,94,000 shares on offer for this segment. Ratnaveer Precision Engineering Ltd IPO's non-institutional investors' portion received bids for 2,27,79,000 shares against 25,26,000 on offer for this segment.
Ratnaveer IPO's QIBs portion received bids for 1,56,300 shares against 33,68,000 on offer for this segment. 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. Ratnaveer Precision Engineering IPO has raised about ₹49.5 crore from anchor investors on Friday, September 1. The company reported to the stock
. Read more on livemint.com
