Ratnaveer Precision Engineering Ltd. has announced public offering of 16840000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 88.00 per share. The gross proceeds of the issue are expected to be Rs 16,503.20 lakhs.

The company's initial public offer (IPO) will open on 04 September 2023 and is expected to close on 06 September 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 93.00-98.00 per share.

The IPO includes a fresh Issue of 16840000 Equity Shares of the Company at an price of Rs 98.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 150 shares with bids in multiples of 150.

Ratnaveer Precision Engineering Ltd. anticipates using the proceeds of the issue for Funding working capital requirements of the Company General corporate purposes.

Unistone Capital Pvt. Ltd. as lead manager & Link Intime India Private Limited is the registrar, to the issue.