Ratnaveer Precision Engineering made a spectacular debut on the bourses

Ratnaveer Precision Engineering made a spectacular debut in the stock exchange at a premium of 30.61% over its issue price of Rs 98 per share. On September 11, the stock began trading at Rs 128 on the BSE and Rs 123.20 on the NSE.

Strong subscriber numbers and the growing trend in wider markets also contribute to the solid listing. In the IPO, investors made bids for 110.79 crore equity shares, which resulted in a 93.99 times subscription compared to an offer size of 1.17 crore shares.

Ratnaveer Precision Engineering Limited, a company incorporated in 2002, manufactures stainless steel (SS) products with an emphasis on finished sheets, washers, solar roofing hooks, pipes, and tubes.

According to Capital Market, there are no listed companies that produce finished sheets, washers, solar roofing hooks, pipes, and tubes exclusively out of stainless steel.

However, noted competitors in related industries include Venus Pipes & Tubes Limited, M.M. Forgings Limited, Jindal Stainless, and Menon Bearings Limited.