Ratnaveer Precision IPO Subscribed 18x on Day 2

Ratnaveer Precision Engineering’s IPO was subscribed around 18 times on Tuesday, the second day of the issue. The retail portion of the issue has so far garnered 21 times subscription, the high net-worth individual portion 35 times, while the institutional investor portion was half covered.

Ratnaveer Precision is a manufacturer of stainless steel finished sheets, washers, solar roofing hooks, pipes, and tubes. Through the IPO, the company is planning to issue new shares worth Rs 135 crore. The price band for the issue is Rs 93–Rs 98 per share. The IPO closes on Wednesday.

Samhi Hotels, Motisons Jewellers Get Sebi Nod for IPO

Gurugram-based Samhi Hotels and Jaipur-based Motisons Jewellers have received final observation from the capital markets regulator, the Securities and Exchange Board of India (Sebi). The move will enable them to roll out their initial public offerings (IPOs).

Samhi Hotels is looking to raise Rs 1,000 crore in fresh capital. Motisons’ IPO is entirely a fresh issue of 33.47 million shares.

First Published: Sep 05 2023 | 8:26 PM IST

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