Ratnaveer Precision Engineering Limited has achieved a significant milestone by securing approval under the Electronics Component Manufacturing Scheme (ECMS) for its ambitious Copper Clad Laminates manufacturing project. The approval, granted on March 30, 2026, marks a strategic expansion into the electronics components sector for the Gujarat-based engineering company.

Government Approval and Investment Details

The formal approval ceremony took place in New Delhi, where Managing Director Vijay Sanghavi received the approval letter from Union Minister of Railways, Electronics & IT, and Information & Broadcasting, Shri Ashwini Vaishnaw. The project represents a substantial commitment to India's electronics manufacturing ecosystem.

Project Scope and Strategic Importance

The approved project will establish one of India's first fully integrated Copper Clad Laminates manufacturing facilities. This initiative forms part of the national vision to achieve 100% import substitution in critical electronic components and position India as a global manufacturing hub for electronics.

Key project highlights include:

• State-of-the-art manufacturing facility with advanced automation
• Complete integration capabilities for domestic production
• Strategic location in Gujarat's industrial corridor
• Technical collaboration with industry-leading machinery manufacturers

Current Project Status

The company has made significant progress on project implementation since receiving approval. Current developments include:

Management Commentary

Commenting on this achievement, Managing Director Vijay Sanghavi stated that the approval marks a significant step in the company's strategic journey towards advanced electronic materials manufacturing. He emphasized the project's alignment with national initiatives including Atmanirbhar Bharat, Digital India, Make in India, and the India Semiconductor Mission.

Policy Framework Alignment

The project operates within comprehensive policy frameworks from both Central and State governments. It benefits from the Electronics Components Manufacturing Scheme by the Ministry of Electronics & IT and the Gujarat Electronics Policy (2022-2028), facilitated by the Department of Science & Technology under the Gujarat State Electronics Mission.

Company Background

Ratnaveer Precision Engineering Limited operates as a leading engineering company specializing in stainless steel products and solutions. The company maintains manufacturing facilities at E-77, G.I.D.C. Savli (Manjusar), Vadodara, with corporate offices at Ocean Campus, Vadodara. This foray into Copper Clad Laminates represents a strategic diversification into high-growth electronics manufacturing sectors, reinforcing the company's vision to contribute meaningfully to India's evolving electronics landscape.

Ratnaveer Precision Engineering Limited announced significant capital raising activities through equity share allotment and warrant issuance to promoters and promoter group entities. The Board of Directors, in their meeting held on March 12, 2026, approved allotments totaling ₹47.49 crores across two separate transactions, as disclosed in the official board meeting outcome document.

Equity Share Allotment Through Preference Share Conversion

The company allotted 1,24,772 equity shares of face value ₹10 each at an issue price of ₹148.27 per share to Managing Director Vijay Sanghavi. This allotment resulted from the conversion of 18,50,000 compulsory convertible preference shares that were issued earlier on a preferential basis.

Following this allotment, the company's paid-up equity share capital increased to ₹67,99,52,350, divided into 6,79,95,235 equity shares of ₹10 each. The conversion was executed after receiving a request letter from the allottee on March 11, 2026, in accordance with Chapter V of the SEBI (ICDR) Regulations, 2018.

Warrant Allotment to Promoter Group

Simultaneously, the Board approved the allotment of 72,32,704 warrants at ₹159.25 per warrant to promoters and promoter group entities. Each warrant carries a premium of ₹149.25 and is convertible into one equity share of face value ₹10 within 18 months of allotment.

The warrant allotment raised ₹28,79,52,028 from the three entities, with the post-preferential issue shareholding calculated on a fully diluted basis assuming complete conversion of all warrants into equity shares.

Board Meeting and Regulatory Compliance

The Board meeting commenced at 3:00 PM IST and concluded at 4:30 PM IST on March 12, 2026. Both allotments were executed in compliance with Regulation 30 of the SEBI Listing Regulations and relevant SEBI circulars, including SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The warrant holders have 18 months from the allotment date to exercise their conversion rights by paying the remaining amount as per SEBI (ICDR) Regulations, 2018. The company has provided detailed annexures to both NSE and BSE containing comprehensive information about both allotments as required under regulatory guidelines.