Ratnaveer Precision Engineering IPO opens next week: GMP, price band, dates and other details to know

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₹93 to ₹98 per equity share of face value of ₹10 each. Ratnaveer IPO lot size is 150 equity shares and in multiples of 150 equity shares thereafter. Ratnaveer Precision Engineering IPO cap price shall be at least 105% of the floor price and shall not exceed 120% of the floor price, and the floor price is to be determined and justified by the company and the promoter selling shareholder in consultation with the Book Running Lead Manager (BRLM), the company said in its Red Herring Prospectus (RHP).

Ratnaveer Precision Engineering 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.

Unistone Capital Private Ltd is the BRLM of the offer. Link Intime India Private Ltd is the offer's registrar. Also Read: Mono Pharmacare IPO: GMP, subscription status on day 3, other key details Manufacturing finished sheets, washers, solar roofing hooks, pipes, and tubes from stainless steel is the main focus of Ratnaveer Precision Engineering Limited.