Ratnaveer Precision Engineering IPO booked 41.90 times on the final day

6 Sep 2023 , 01:00 PM

Ratnaveer Precision Engineering Limited’s initial public offering (IPO), which was open for subscription from September 4 to September 6, has garnered tremendous investor interest, with a subscription rate of 41.90 times by the end of day 3. Notably, by the conclusion of day 2, the subscription rate stood at an impressive 21.8 times. Click here to subscribe the IPO.

High net-worth individuals (HNIs) displayed a particularly aggressive approach in bidding for the offering, subscribing 84.84 times the allocated quota, which constitutes 15% of the total issue size. Retail investors also showed strong enthusiasm, bidding for shares at a rate of 38.15 times their designated portion, while qualified institutional buyers (QIBs) secured their stake by booking shares at a rate of 16.84 times the allotment set aside for them. The retail segment accounted for 35% of the issue, while the QIB segment represented 50%.

The basis of allotment for the IPO shares is scheduled to be finalized by the company in consultation with the NSE by September 11. Eligible investors can anticipate their equity shares to be credited to their demat accounts by September 13. Additionally, refunds for unsuccessful investors will be credited to their bank accounts by September 12.

Trading in the equity shares is set to commence on September 14.