Ratnaveer Precision share price opens at 25.7% premium on NSE; details here

Ratnaveer IPO listing date: Shares of Ratnaveer Precision Engineering Ltd listed on the bourses at a premium on Monday. On the NSE, Ratnaveer share price today was listed at ₹123.20 per share, 25.7 % higher than the issue price, and on the BSE, Ratnaveer share price was listed at ₹128 per share. 

Ratnaveer Precision Engineering IPO opened for subscription on Monday, September 4, and closed on Wednesday, September 6. Ratnaveer Precision Engineering IPO has raised about ₹49.5 crore from anchor investors on Friday, September 1.

Ratnaveer IPO price band was fixed in the range between ₹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 details

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.

Unistone Capital Private Ltd is the BRLM of the offer. Link Intime India Private Ltd is the offer's registrar.

Also Read: Ratnaveer IPO listing date today. GMP, experts signal 'robust' debut of shares

Ratnaveer IPO GMP today

Ratnaveer Precision IPO GMP today or grey market premium is +52 higher than the previous trading session. This indicates Ratnaveer Precision share price were trading at a premium of ₹52 in the grey market on Monday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ratnaveer Precision share price was ₹150 apiece, which is 53.06% higher than the IPO price of ₹98.

According to topsharebrokers.com, the lowest GMP is ₹0, while the highest GMP is ₹60.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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