On Monday against the issue price of Rs. 98 shares of Ratnaveer Precision Engineering Ltd jumped nearly 31 per cent in its debut trade.
The company manufacturer and supplier of steel washers. The company’s shares began trading at Rs 128 per share on the BSE, up 30.61 per cent from the issue price. Later, it increased by 36.73 per cent to Rs 134.
At the NSE, it listed at Rs 123.20, rallying 25.71 per cent.
Ratnaveer Precision Engineering’s Initial Public Offering (IPO) last week received 93.96 times its subscribed amount riding on the enthusiastic support of institutional investors.
The IPO was a combination of both an offer-for-sale and a fresh issue.
The public issue of over 1.68 crore shares comprised a fresh issue of 1.38 crore scrips and an offer-for-sale of 30.40 lakh shares.
The price range for the offer was Rs 93-98 a share.
