Archive · 10 Sep 2026
Ratnaveer Rights Issue Subscribed 1.11x as CCL Plant Advances
Ratnaveer asked its existing shareholders to buy additional shares.
The company said the offer received 1.11 times the shares it offered.
Each new share cost INR 264.
The money will help build a Copper Clad Laminate, or CCL, factory in Vadodara.
CCL is an important material used to make circuit boards.
Ratnaveer said the factory is about 60% finished.
It plans to begin commercial production in November 2026.
The company believes strong CCL prices could help the new business, but some claims in the promotional material have not been independently verified.
Ratnaveer Precision Engineering said its INR 329.99 crore rights issue closed with 1.11 times overall subscription.
The issue offered 1,24,99,669 shares at INR 264 each, with seven shares offered for every 40 held.
Allotment was scheduled for September 10, 2026, while listing on the NSE and BSE was planned for September 15.
The proceeds, alongside a broader INR 650 crore funding package, will support the company’s INR 472.34 crore CCL project in Vadodara.
Ratnaveer said the plant was roughly 60% complete, with commercial production targeted for November 2026.
- Who
- Ratnaveer Precision Engineering Limited, its eligible shareholders and Rights Entitlement holders.
- What
- The company’s INR 329.99 crore rights issue closed with an overall subscription of 1.11 times.
- When
- The issue closed and allotment was scheduled for September 10, 2026; listing was planned for September 15, 2026.
- Where
- The CCL project is in Vadodara, Gujarat, India; the shares were planned for listing on the NSE and BSE.
- Why
- The proceeds are intended to support Ratnaveer’s CCL manufacturing project and its expansion beyond stainless steel products.
Company and industry opportunity
Cautions and uncertainty
CCL market conditions
Company and industry opportunity
Ratnaveer’s promotional material says rising CCL and prepreg prices, tight input supplies and stronger industry margins could provide a significant tailwind for the project.
Cautions and uncertainty
The reported market trends do not guarantee Ratnaveer’s future prices, margins or profitability once production begins.
Future profitability
Company and industry opportunity
The company said the gap between higher CCL prices and more modest raw-material cost increases could expand margins after the plant ramps up.
Cautions and uncertainty
The specific claims that CCL prices rose about 325% and raw-material costs rose roughly 30–35% were not independently verified in the supplied material.
Revenue visibility
Company and industry opportunity
Management reportedly cited soft confirmation of interest in exclusivity and long-term supply arrangements from large companies.
Cautions and uncertainty
The supplied material describes these as early indications rather than finalized contracts, so their commercial impact remains uncertain.
- Rights issue size
- INR 329.99 crore
- Overall subscription
- 1.11 times
- Shares offered
- 1,24,99,669 fully paid-up equity shares
- Issue price
- INR 264 per share
- Entitlement ratio
- Seven rights shares for every 40 shares held
- CCL project
- INR 472.34 crore project in Vadodara, roughly 60% complete
- Target production
- Commercial production targeted for November 2026
- Planned listing
- September 15, 2026, on the NSE and BSE
