At 11.08 am, the public issue was subscribed 1.02 times, with the retail portion garnering 1.62 times bids while the non-institutional investors portion was subscribed 1.02 times. However, there have been no bids from qualified institutional buyers so far.
Ratnaveer Precision Engineering IPO: The Gujarat-based company is looking to raise Rs 165.03 crore. The IPO comprises fresh issue of 1.38 crore equity shares, amounting to Rs 135.24 crore, and an offer-for-sale of 30.4 lakh shares
Ratnaveer Precision Engineering Limited IPO: The company has set a price range of Rs 93 to Rs 98 per equity share for its IPO, with the aim of raising Rs 165.03 crore from the public issue.
Ratnaveer Precision Engineering will raise Rs 165 crore from its IPO which includes a sale of 1.38 crore fresh shares while its promoter will offloard 30.40 lakh shares.
Robust IPO subscription numbers, increasing government focus on infrastructure and a strong order book point to listing with over 50 percent premium, say analysts.