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Rishabh Instruments Limited IPO Detail

Rishabh Instruments Limited IPO Detail

Incorporated in 1982, Rishabh Instruments Limited is engaged in the business of manufacturing, design, and development of Test and Measuring Instruments and Industrial Control Products.

The company provides cost-effective solutions to measure, control, record, analyze, and optimize energy and processes through an array of products. It also provides complete aluminum high-pressure die-casting solutions for customers requiring close tolerance fabrication (such as automotive compressor manufacturers and automation high precision flow meters manufacturers), machining, and finishing of precision components.

In 2011, Rishabh Instruments acquired Lumel Alucast, a non-ferrous pressure casting company in Europe, which helped the company establish a strong foot in manufacturing and supply of low-voltage current transformers. The company also provides certain manufacturing services which include mould design and manufacturing, EMI/EMC testing services, Electronic Manufacturing Services, and software solutions (e.g., MARC).

Rishabh Instruments has 4 segments: (a) electrical automation devices; (b) metering, control, and protection devices; (c) portable test and measuring instruments; and (d) solar string inverters.

The company has 3 manufacturing units and more than 270 dealers across the globe, reaching 70+ countries and 150+ dealers across India covering every state.

Company Promoters

Mr. Narendra Joharimal Goliya

IPO Details

IPO Opening DateAug 31, 2023
IPO Closing DateSep 01, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹418 - 441 per equity share
Market Lot34 Shares
Min Order Quantity34 Shares
Listing AtBSE, NSE
Issue Size₹490.78 Cr
Fresh Issue₹75.00 Cr
Offer for Sale₹415.78 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.22x 4.65x 2.80x - 2.46x
Day 2 72.54x 31.29x 8.43x - 31.65x

IPO Tentative Timetable

The Rishabh Instruments Limited IPO open date is Aug 31, 2023, and the close date is Sep 01, 2023. The issue may list on Sep 11, 2023.

IPO Open DateAug 31, 2023
IPO Close DateSep 01, 2023
Basis of Allotment DateSep 06, 2023
Initiation of RefundsSep 07, 2023
Credit of Shares to Demat AccountSep 08, 2023
IPO Listing DateSep 11, 2023

IPO Lot Size

The Rishabh Instruments Limited IPO market lot size is 34 shares. A retail-individual investor can apply for up to 13 lots (442 shares or ₹194922).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding80.67%
Post Issue Share Holding70.68%

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 511.97 402.49 35.94
31-Mar-22 563.89 479.92 49.65
31-Mar-23 648.93 579.78 49.69

Objects of the Issue:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Financing the cost towards the expansion of Nashik Manufacturing Facility I, and
  2. General corporate purposes.

Rishabh Instruments Limited IPO Registrar:

KFin Technologies Limited

Rishabh Instruments Limited IPO Lead Manager(s):

Dam Capital Advisors Ltd Motilal Oswal Investment Advisors Pvt Ltd Mirae Asset Capital Markets (India) Private Limited

Company Contact Information:

Rishabh Instruments Limited

A-54, MIDC, Opposite,

MIDC Bus Depot, Andheri (East)

Mumbai - 400 093