Ratnaveer Precision Engineering IPO
Ratnaveer Precision Engineering Limited (RATNAVEER) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 11 September 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +77.3% (likely range +8% to +107%), day's high +82.1%, chance of a gain 97%. Actual: +25.7% at the open, +32.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 33,68,000 | 44,81,16,600 | 133x | |
| NII (HNI) total | 25,26,000 | 34,15,50,000 | 135x | |
| Big NII (above ₹10 lakh) | 16,84,000 | 21,99,82,050 | 131x | |
| Small NII (₹2-10 lakh) | 8,42,000 | 12,15,67,950 | 144x | |
| Retail | 58,94,000 | 31,83,08,100 | 54.0x | |
| Total | 1,17,88,000 | 1,10,79,74,700 | 94.0x |
Bids on NSE and BSE together, as published by NSE, as of 06 Sep 2023, 07:00 PM. Shares offered exclude the anchor portion. 25% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Ratnaveer Precision Engineering's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Sigachi IndustriesNov 2021 | 86.5x | 172x | 80.5x | 102x | ₹125 Cr | +249.7% | +267.2% |
| Vishnu Prakash R PungliaAug 2023 | 172x | 111x | 32.0x | 87.8x | ₹309 Cr | +66.7% | +66.7% |
| Aeroflex IndustriesAug 2023 | 195x | 126x | 34.4x | 97.1x | ₹352 Cr | +75.9% | +81.8% |
| Utkarsh Small Finance BankJul 2023 | 125x | 81.6x | 72.1x | 102x | ₹543 Cr | +60.0% | +92.0% |
| CSB BankNov 2019 | 62.2x | 165x | 44.5x | 86.9x | ₹410 Cr | +41.0% | +57.3% |
| Ideaforge TechnologyJun 2023 | 126x | 80.6x | 85.2x | 106x | ₹567 Cr | +93.5% | +100.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Unistone Capital | 13 | +47.7% | 100% |
Offer documents (NSE)
Frequently asked
What is the Ratnaveer Precision Engineering IPO price band and lot size? ₹93.0–98.0 per share, with a lot of 150 shares, so the smallest retail bid is ₹14,700.
How many times has it been subscribed? 94.0x overall: QIB 133x, NII 135x, retail 54.0x.
How did it list? It opened at ₹123, +25.7% against the issue price of ₹98.0, and closed its first day +32.0%.
