Rishabh Instruments IPO: On August 30, subscriptions for the IPO of Rishabh Instruments open. With its headquarters in Nashik, Maharashtra, Rishabh Instruments Limited is a global provider of energy efficiency solutions. It has a variety of applications in the power, automotive, and industrial sectors and specializes in electrical automation, metering and measurement, precision engineered products, and aluminum high pressure die castings.
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According to Red Herring Prospectus (RHP), Rishabh Instruments’ revenue from operations increased by 21.11% from 470.25 crore in Fiscal 2022 to 569.54 crore in Fiscal 2023, mainly due to growth in revenue from the sale of goods and services. Profit increased to 49.69 crore in Fiscal 2023 from 49.65 crore in Fiscal 2022, however.
There are no comparable listed firms in India or overseas that conduct business in a manner similar to that of the company, Rishabh Instruments IPO floor price is 41.8 times the face value of the equity shares and the cap price is 44.1 times the face value of the equity share.
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Rishabh Instruments IPO Timetable.
Rishabh Instruments IPO opens on Aug 30, 2023, and closes on Sep 1, 2023.
| IPO Open Date | Wednesday, 30 August 2023 |
| IPO Close Date | Friday, 1 September 2023 |
| Basis of Allotment | Wednesday, 6 September 2023 |
| Initiation of Refunds | Thursday, 7 September 2023 |
| Credit of Shares to Demat | Friday, 8 September 2023 |
| Listing Date | Monday, 11 September 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 1, 2023 |
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Rishabh Instruments IPO objectives: The net proceeds from the offer will be used to finance the cost towards expansion of Nashik Manufacturing Facility I, and meet general corporate purposes, said the company in its Red herring prospectus (RHP).
Rishabh Instruments IPO GMP: Rishabh Instruments IPO GMP or grey market premium on Monday was +30 higher than the previous trading sessions. This indicates Rishabh Instruments share price were trading at a premium of ₹30 in the grey market on Monday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rishabh Instruments share price is ₹471 apiece, which is 6.80% higher than the IPO price of ₹441.
Rishabh Instruments IPO reservation: Rishabh Instruments’ initial public offering (IPO) has set aside a maximum of 50% of the shares for qualified institutional buyers (QIB), a minimum of 15% for non-institutional investors (NII), and a minimum of 35% for retail investors.
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Company Financials
Rishabh Instruments IPO Financial Information (Restated Consolidated)
| 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 |
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IPO Details
The Rs 491 crore-initial public offering of Rishabh Instruments kicks-off bidding on Wednesday, August 30. The company will be looking to sell its shares in the range of Rs 418-441 apiece with a lot size of 34 equity shares and its multiples thereof. The three-day bidding process will conclude on Friday, September 1.
For investors interested in participating in the IPO, the IPO details are as follows: Dates: 30 Aug to 1 Sep 2023
Price Band: ₹418 to ₹441 per share
Lot Size: 34 Shares
IPO Size: 490.78 Crs
Retail Quota: 35%
Allotment Date: 6/7 Sept 2023 (Tentative)
Listing Date: 11 Sept
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