New Delhi: Ratnaveer Precision Engineering Limited IPO has been fully subscribed on the first day, Monday. The company opened its initial public offering or IPO on September 4 in order to raise about Rs 165.03 crore.
The company has kept the price band between Rs 93 to Rs 98 with a face value of Rs 20 and 100% book building.
Interested retail investors can subscribe for the IPO till September 6 with a bid lot of 150 equity shares and in multiples thereof. Rs 2 lakh is the maximum subscription amount for retail investors.
The IPO is sponsored by Kotak Mahindra Bank limited and Induslnd Bank limited.
As per observers, Grey Market Price (GMP) Of Ratnaveer Precision Engineering Limited IPO would be around Rs 48 today.
The allotment of shares of the IPO to subscribers is expected to happen on September 11, 2023.
The IPO is expected to debut on the stock market (NSE and BSE) on September 14.
By Afternoon, the IPO has been subscribed over 1.65 times with a subscription of 2.6 times by retail investors. Out of the 58,94,000 shares allotted for retail investors, a total of 1,06,12,050 shares have been bid for.