Ratnaveer's Rights Issue Sails Past Target, Fuels New CCL Plant Growth! 🚀

Vadodara, Gujarat, Ratnaveer Precision Engineering Limited has announced the successful closure of its ₹329.99 crore Rights Issue, which was oversubscribed by an impressive 1.11 times. This robust participation from eligible shareholders and Rights Entitlement (RE) holders underscores strong market confidence in the company's future endeavors.

The Rights Issue comprised 1,24,99,669 fully paid-up equity shares, offered at a price of ₹264 per share, with an allotment ratio of 7 Rights Equity Shares for every 40 shares held as of the Record Date on August 26, 2026. The basis of allotment is scheduled to be finalized on September 10, 2026, followed by the credit of shares to demat accounts and their subsequent listing on both the NSE and BSE on September 15, 2026.

MUFG Intime India Private Limited served as the Registrar to the Issue, facilitating the smooth execution of this critical financial exercise. A significant portion of the Rights Issue proceeds, combined with a broader ₹650 crore funding package, is strategically allocated to fund Ratnaveer's ambitious ₹472.34 crore Copper Clad Laminate (CCL) project.

This venture, located in Vadodara, marks the company's strategic entry into the high-growth electronics materials value chain, diversifying beyond its traditional stainless steel business.

Progress on the CCL plant is well underway, with approximately 60% of the project already completed.

Commercial production is targeted to commence by November 2026, with machinery, technology partnerships, and the core operating team reportedly in place ahead of the ramp-up phase. The project has also secured vital approvals under the Government of India's ECMS scheme and Gujarat's Electronics Policy, highlighting its strategic importance and governmental support.

Ratnaveer's entry into the CCL market is notably timed, coinciding with one of the most dynamic price cycles the global industry has witnessed in years. The market is currently experiencing tight supply and rising input costs, leading to multiple rounds of price increases for global CCL and prepreg. FR-4 laminate prices, in particular, have seen a sharp rise during 2026, indicating sustained pricing pressure across the industry.

Despite these challenges, the global CCL industry has recorded strong year-on-year revenue growth, with improving gross margins pointing towards enhanced pricing power and overall industry profitability. Upstream inputs such as electronic glass fabric, HVLP copper foil, and PPO resin remain in tight supply, with several producers running fully booked.

This market environment positions Ratnaveer to potentially capitalize on favorable pricing conditions upon its plant's operational readiness.

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