Ratnaveer IPO: Issue subscribed over 21 times on day 2; NIIs steal the show
ipo subscription status: Ratnaveer IPO was subscribed 21.78 times on day 2. Ratnaveer Precision Engineering IPO opened for subscription on Monday, September 4, and will close on Wednesday, September 6. Ratnaveer IPO received positive response from retail investors, non-institutional investors (NIIS), and Qualified institutional buyers (QIBs) on day 2.
All the three portions were oversubscribed subscribed on day 2. Ratnaveer IPO's retail investors portion was subscribed 23.06 times, NII portion was subscribed 42.23 times, and QIBs portion was subscribed 4.21 times. Also Read: Ratnaveer IPO: Latest GMP, subscription status, review, other details.
Apply or not? Ratnaveer Precision IPO has received bids for 25,67,88,900 shares against 1,17,88,000 shares on offer, according to data from the BSE. Ratnaveer IPO's retail investors' portion received bids for 13,59,34,350 shares against 58,94,000 shares on offer for this segment. Ratnaveer Precision Engineering Ltd IPO's non-institutional investors' portion received bids for 10,66,73,550 shares against 25,26,000 on offer for this segment.
Ratnaveer IPO's QIBs portion received bids for 1,41,81,000 shares against 33,68,000 on offer for this segment. Ratnaveer IPO was subscribed 5.77 times on day 1. Also Read: Vishnu Prakash share price dips after strong listing.
Buy, sell or hold? 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
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