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Rishabh Instruments IPO is a book built issue of Rs 490.78 crores. The issue is a combination of fresh issue of 0.17 crore shares aggregating to Rs 75.00 crores and offer for sale of 0.94 crore shares aggregating to Rs 415.78 crores.
Rishabh Instruments IPO bidding started from August 30, 2023 and ended on September 1, 2023. The allotment for Rishabh Instruments IPO was finalized on Wednesday, September 6, 2023. The shares got listed on BSE, NSE on September 11, 2023.
Rishabh Instruments IPO price band is set at ₹418 to ₹441 per share. The minimum lot size for an application is 34 Shares. The minimum amount of investment required by retail investors is ₹14,994. The minimum lot size investment for sNII is 14 lots (476 shares), amounting to ₹209,916, and for bNII, it is 67 lots (2,278 shares), amounting to ₹1,004,598.
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Motilal Oswal Investment Advisors Limited and Mirae Asset Capital Markets (India) Private Limited are the book running lead managers of the Rishabh Instruments IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Rishabh Instruments IPO RHP for detailed information.
| IPO Date | August 30, 2023 to September 1, 2023 |
| Listing Date | September 11, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹418 to ₹441 per share |
| Lot Size | 34 Shares |
| Total Issue Size | 11,128,858 shares (aggregating up to ₹490.78 Cr) |
| Fresh Issue | 1,700,680 shares (aggregating up to ₹75.00 Cr) |
| Offer for Sale | 9,428,178 shares of ₹10 (aggregating up to ₹415.78 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 36,260,678 |
| Share holding post issue | 37,961,358 |
Rishabh Instruments IPO offers 11,128,858 shares. 2,225,772 (20.00%) to QIB, 1,669,329 (15.00%) to NII, 3,895,101 (35.00%) to RII 3,338,656 (30.00%) to Anchor investors. 114,561 RIIs will receive minimum 34 shares and 1,168 (sNII) and 2,337 (bNII) will receive minimum 476 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 3,338,656 (30.00%) | NA |
| QIB Shares Offered | 2,225,772 (20.00%) | NA |
| NII (HNI) Shares Offered | 1,669,329 (15.00%) | |
| bNII > ₹10L | 1,112,886 (10.00%) | 2,337 |
| sNII < ₹10L | 556,443 (5.00%) | 1,168 |
| Retail Shares Offered | 3,895,101 (35.00%) | 114,561 |
| Total Shares Offered | 11,128,858 (100%) |
Rishabh Instruments IPO raises Rs 147.23 crore from anchor investors. Rishabh Instruments IPO Anchor bid date is August 29, 2023. Rishabh Instruments IPO Anchor Investors list
| Bid Date | August 29, 2023 |
| Shares Offered | 3,338,656 |
| Anchor Portion Size (In Cr.) | 147.23 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 6, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 5, 2023 |
Rishabh Instruments IPO opens on August 30, 2023, and closes on September 1, 2023.
| IPO Open Date | Wednesday, August 30, 2023 |
| IPO Close Date | Friday, September 1, 2023 |
| Basis of Allotment | Wednesday, September 6, 2023 |
| Initiation of Refunds | Thursday, September 7, 2023 |
| Credit of Shares to Demat | Friday, September 8, 2023 |
| Listing Date | Monday, September 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 1, 2023 |
Investors can bid for a minimum of 34 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,994 |
| Retail (Max) | 13 | 442 | ₹194,922 |
| S-HNI (Min) | 14 | 476 | ₹209,916 |
| S-HNI (Max) | 66 | 2,244 | ₹989,604 |
| B-HNI (Min) | 67 | 2,278 | ₹1,004,598 |
| Lot Size Calculator | |||
Mr. Narendra Joharimal Goliya is the promoter of the company.
| Share Holding Pre Issue | 80.67% |
| Share Holding Post Issue | 70.68% |
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.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 511.97 | 563.89 | 648.93 |
| Revenue | 402.49 | 479.92 | 579.78 |
| Profit After Tax | 35.94 | 49.65 | 49.69 |
| Net Worth | 302.13 | 346.10 | 408.75 |
| Reserves and Surplus | |||
| Total Borrowing | 91.95 | 96.57 | 102.85 |
The market capitalization of Rishabh Instruments IPO is Rs 1674.1 Cr.
| KPI | Values |
|---|---|
| ROE | 12.39% |
| ROCE | 13.77% |
| Debt/Equity | 0.26 |
| RoNW | 11.67% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 12.84 | |
| P/E (x) | 33.69 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] RIL is a global leader in energy efficiency solutions and precision engineering products. Its top line included above 66% export revenues, this indicates that it has already created a niche place in the global market for its products. Based on FY23 earnings, the issue appears fully priced. However, well-informed investors may consider investment for medium to long-term rewards. Read detail review...
The Rishabh Instruments IPO is subscribed 31.65 times on September 1, 2023 7:02:00 PM. The public issue subscribed 8.44 times in the retail category, 72.54 times in the QIB category, and 31.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 72.54 |
| NII | 31.29 |
| bNII (bids above ₹10L) | 34.01 |
| sNII (bids below ₹10L) | 25.86 |
| Retail | 8.44 |
| Total | 31.65 |
Total Application : 865,227 (7.55 times)
| Listing Date | September 11, 2023 |
| BSE Script Code | 543977 |
| NSE Symbol | RISHABH |
| ISIN | INE0N2P01017 |
| Final Issue Price | ₹441 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹441.00 |
| ₹460.00 |
| ₹432.25 |
| ₹469.65 |
| ₹442.75 |
| NSE |
|---|
| ₹441.00 |
| ₹460.05 |
| ₹432.35 |
| ₹470.00 |
| ₹443.15 |
Rishabh Instruments Limited
A-54, MIDC, Opposite,
MIDC Bus Depot, Andheri (East)
Mumbai - 400 093
Phone: +91 253 220 2183
Email: cs@rishabh.co.in
Website: https://rishabh.co.in/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: rishabh.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Rishabh Instruments IPO is a main-board IPO of 11,128,858 equity shares of the face value of ₹10 aggregating up to ₹490.78 Crores. The issue is priced at ₹418 to ₹441 per share. The minimum order quantity is 34 Shares.
The IPO opens on August 30, 2023, and closes on September 1, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Rishabh Instruments IPO using UPI as a payment gateway. Zerodha customers can apply in Rishabh Instruments IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rishabh Instruments IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rishabh Instruments IPO opens on August 30, 2023 and closes on September 1, 2023.
Rishabh Instruments IPO lot size is 34 Shares, and the minimum amount required is ₹14,994.
You can apply in Rishabh Instruments IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Rishabh Instruments IPO will be done on Wednesday, September 6, 2023, and the allotted shares will be credited to your demat account by Friday, September 8, 2023. Check the Rishabh Instruments IPO allotment status.
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