Ratnaveer Precision to list on September 11, expected to gain 40% over issue price
Ratnaveer Precision Engineering is expected to list on the stock exchanges on September 11 with a gain of at least 40% over its issue price of Rs 98 per share. The grey market premium for the stock is currently at 50%, indicating strong demand from investors.
The company’s IPO was subscribed 93.99 times, with bids for 110.79 crore equity shares against the issue size of 1.17 crore. The IPO included a fresh issue of 17 lakh shares aggregating to Rs 75 crore and an offer for sale (OFS) of 94 lakh shares aggregating to Rs 415 crore.
The company manufactures stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes. It has a diverse product portfolio and a large headroom for growth in end-user industries such as automotive, solar and wind power plants, and oil and gas.
Analysts advise investors to book profits on the listing day, as the stock is likely to be volatile in the initial days.
Here are some of the reasons why Ratnaveer Precision is expected to list with a gain:
- Strong demand from investors in the IPO
- Niche SS cold-rolled products with high margins
- Investor-friendly IPO pricing
- Diverse product portfolio with large growth potential
- Backward integration and industry tailwinds in the Indian stainless-steel sector
However, it is important to note that the stock market is volatile and there is no guarantee that the stock will list at a premium. Investors should do their own research before investing in any stock.
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