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Ratnaveer Precision Engineering would be the first IPO in history to start T+3 listing on Monday
The IPO closed on September 6 (Wednesday).
The Ratnaveer Precision Engineering IPO was subscribed 93.99 times -- it was subscribed 54 times in the retail category, 133.05 times by QIBs, and 135.21 times in the NII category.
The engineering company has fixed the price at Rs 98, at the upper end of the price band of Rs 93-98 per equity
The company mopped up ₹165.03 crore from the public issue.
As part of the IPO process, it raised about ₹49.5 crore from anchor investors, by allotting 50,52,000 shares at Rs 98 per share. Societe Generale, Sixteenth Street Asian Gems Fund, Saint Capital Fund, Coeus Global Opportunities Fund, and Leading Light Fund VCC - The Triumph Fund were among the domestic and foreign investors who participated in the anchor window.
The IPO consisted of a fresh issue of Rs 135.24 crore and OFS worth Rs 29.79 crore (by promoter selling shareholder Vijay Ramanlal Sanghavi).
The net proceeds from the fresh issue will be utilised to fund working capital requirement, and general corporate purposes.
The new listing timeframe will be voluntary for all public issues opening on or after September 1 and mandatory for all issues which come after December 1, said SEBI in a circular on Wednesday.
Also read: On a high. Investor eyes glued on IPOs with new issues for ₹6,000 cr to hit market soon
However, Ratnaveer decided to go in for voluntary listing on t+3 basis
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