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 GoliyaIPO Details
IPO Opening Date | Aug 31, 2023 |
IPO Closing Date | Sep 01, 2023 |
Issue Type | Book Built Issue IPO |
Face Value | ₹10 per equity share |
IPO Price | ₹418 - 441 per equity share |
Market Lot | 34 Shares |
Min Order Quantity | 34 Shares |
Listing At | BSE, NSE |
Issue Size | ₹490.78 Cr |
Fresh Issue | ₹75.00 Cr |
Offer for Sale | ₹415.78 Cr |
Retail Portion | 35% |
IPO Subscription (Bidding Detail)
AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
---|---|---|---|---|---|---|
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 Date | Aug 31, 2023 |
IPO Close Date | Sep 01, 2023 |
Basis of Allotment Date | Sep 06, 2023 |
Initiation of Refunds | Sep 07, 2023 |
Credit of Shares to Demat Account | Sep 08, 2023 |
IPO Listing Date | Sep 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).
Application | Lots | Shares | Amount (Cut-off) |
---|---|---|---|
Minimum | 1 | 34 | ₹14994 |
Maximum | 13 | 442 | ₹194922 |
IPO Promoter Holding
Pre Issue Share Holding | 80.67% |
Post Issue Share Holding | 70.68% |
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:
- Financing the cost towards the expansion of Nashik Manufacturing Facility I, and
- 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