News: Ratnaveer Precision Engineering, the board of the company has approved raising funds. The company will raise Rs 66 crore via issuance of equity shares on preferential basis while another tranche of Rs 29 crore via equity warrants which will be converted at a later date. The equity and warrants issuance is pegged at Rs 143 per share. The warrants are issued to the promoter of the company.
View: The company is undergoing a significant capex programme in two phases in order to augment the capacity of its current product line and also to set up capacities of forward integrated products like SS fasteners. The above fund arise will help the company to fund its capex of Rs 110 crore till FY25E
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