Ratnaveer IPO: Focus shifts to allotment as SEBI’s T+3 norms starts to roll out

Some investors who did not wish to be named claimed that they had started receiving debit messages for the Ratnaveer IPO. However, the registrar’s website, Link Intime India Private Ltd, does not yet reflect the finalised allocation information.

Initially, Ratnaveer IPO basis of allotment of shares was to be finalised on Monday, September 11 and the company was to initiate refunds on Tuesday, September 12. Investors must keep an eye out for the final dates of refunds and listing, as the company seems to have switched to T+3 listing norm.

The Securities and Exchange Board of India (SEBI) recently announced that it will soon switch to a T+3 listing format. On August 8, 2023, SEBI announced that the post-IPO share listing period would be shortened from six to three days. Starting on September 1, 2023, this modification will be voluntary for all initial public offers and will become mandatory for all subsequent issues on December 1, 2023.

Both issuers and investors are anticipated to benefit from this change. Issuers will have quicker access to their money, while investors will get a head start on the stock market.

Also Read: SEBI changes IPO rules, listing time halved to 3 days; check details

“It has been decided to reduce the time taken for listing of specified securities after the closure of public issue to three working days (T 3 days) as against the present requirement of 6 working days (T 6 days). ‘T’ being issue closing date,” said SEBI.

The Registrar to an Issue would undertake third-party verification of the applications by matching the PAN available in the demat account with the PAN available in the bank account of the applicant, according to the regulator.

In instances of mismatch, such applications would continue to be considered invalid applications for finalising the basis of allotment.

How to check Ratnaveer IPO allotment status?

The investors who applied for the issue can track and try to check the Ratnaveer Engineering IPO allotment status if out in the registrar’s portal, which is Link Intime India Private Ltd – https://linkintime.co.in/MIPO/Ipoallotment.html

Step 1

Visit the above link which will take you to Ratnaveer Engineering IPO’s registrar’s website i.e Link Intime India Private Ltd.

Step 2

Choose the IPO in the dropbox that will only have its name set in if the allocation is completed.

Step 3

Pick one of all three options to check the status: Application No, Demat Account, or PAN.

Step 4

Choose between ASBA and non-ASBA under application type.

Step 5

Include the information for the mode you choose in Step 2.

Step 6

Click submit after filling out the captcha.

How to check Ratnaveer IPO allotment status on BSE?

Step 1

Visit allotment page on BSE’s official website – https://www.bseindia.com/investors/appli_check.aspx

Step 2

Under ‘Issue Type’, select ‘Equity’.

Step 3

Choose the IPO from the drop-down option under ‘Issue Name’.

Step 4

Enter PAN or application number.

Step 5

Click ‘I am not a Robot’ to confirm your identity, then click the ‘Submit’ button.

How to check Ratnaveer IPO allotment status on NSE?

Step 1

Visit NSE’s official website- https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

Step 2

By selecting the ‘Click here to sign up’ option on the NSE website, one must register with PAN.

Step 3

Enter user name, password, and captcha code.

Step 4

Check IPO allotment status on the new page that will open.
 

Ratnaveer IPO GMP today

Ratnaveer Precision IPO GMP today or grey market premium is +60 similar to the previous two trading session. This indicates Ratnaveer Precision share price were trading at a premium of ₹60 in the grey market on Thursday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ratnaveer Precision share price is ₹158 apiece, which is 61.22% higher than the IPO price of ₹98.

According to topsharebrokers.com, the lowest GMP is ₹0, while the highest GMP is ₹60.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Ratnaveer Precision Engineering IPO details

Ratnaveer Precision IPO is made up of fresh issue of 13,800,000 shares that totals to ₹135.24 crore and offer for sale (OFS) portion consists of 3,040,000 shares of ₹10, which aggregates to ₹29.79 crore sold by promoter selling shareholder Vijay Ramanlal Sanghavi. Ratnaveer IPO total issue size is ₹165.03 crores.

The net proceeds from the fresh issue will be utilised to fund working capital requirements of the company, and general corporate purposes.

Unistone Capital Private Ltd is the BRLM of the offer. Link Intime India Private Ltd is the offer’s registrar.

Also Read: Basilic Fly Studio IPO allotment tomorrow: Latest GMP, here’s how to check allotment status

Updated: 07 Sep 2023, 10:39 PM IST