Ratnaveer Precision Engineering Ltd

Ratnaveer Precision Engineering Ltd was incorporated as Ratnaveer Stainless Products Private Limited on February 20, 2002 in Gujarat. Subsequently, the name of Company was changed to Ratnaveer Metals Private Limited on May 28, 2018. Pursuant to conversion of Company into a Public Limited, the name was changed to Ratnaveer Metals Limited on September 27, 2018. Further, name of the Company was changed to Ratnaveer Precision Engineering Limited and a fresh Certificate of Incorporation was granted by the Registrar of Companies, Ahmedabad on November 01, 2022.The Company is a stainless steel (SS) product manufacturer producing finished sheets, washers, solar roofing hooks, pipes and tubes. The Company operate 4 manufacturing units, out of which 2 are located at Savli, Gujarat, (UnitI and UnitII) one is located at Waghodia, Gujarat (UnitIII) and the other one is located at Vatva, Gujarat (UnitIV) with convenient transportation of products available. The Company manufacture finishing sheets, washers and solar mounting hooks at Unit I and SS pipes tubes at Unit II. In Unit III, the Company melt steel scrap and turn it into steel ingots and Unit IV is the rolling unit where flat ingots are processed to turn them into sheets which are the raw material for washers.The Company manufacture SS Finishing Sheets, SS Washers and SS Solar roofing hooks at Unit I. The scrap generated primarily in the manufacturing process of SS Washers and SS Solar roofing hooks is sent to Unit III where this scrap and the scrap purchased from third parties is sorted, categorized and melted in heating furnaces and cooled naturally to form the SS ingots. These ingots are sent for job work for conversion into flat ingot. The flat ingots are then brought to Unit IV where the flat ingots are converted into SS sheets and sent back to Unit I for utilization as raw material in its manufacturing process.The Company had started business activities with manufacturing of SS washers and since then, branched out to manufacturing finishing sheets, solar roofing hooks, tubes and pipes which enabled to diversify their product portfolio manifold. In 2002, it started operations from the melting unit (UnitIII) at Waghodia, Vadodara commenced production of finishing line sheets at Unit I in 201011 and later on their production started further for SS tubes pipes at their UnitII in 201011.The Company is proposing to issue upto 15,300,000 Equity Shares through Fresh Issue and 2100000 Equity Shares through Offer for Sale.