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Rishabh Instruments IPO GMP, Price, Dates & Allotment Details 2023

Rishabh Instruments IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Rishabh Instruments IPO will open on August 30 and close on September 1, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 490.78 crore through this public offering, consisting of 11,128,858 shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 418 to ₹ 441 per share.

Rishabh Instruments Limited (“the Company”)

Rishabh Instruments Limited was incorporated in 1982. They are a global energy efficiency solution company focused on electrical automation, metering, and measurement, precision-engineered products, et al., with diverse applications across industries including power, automotive, and industrial sectors.

The company supplies a wide range of electrical measurement and process optimization equipment and is engaged in the design, development, manufacturing, and sale of devices significantly under its own brand across several sectors.

They provide comprehensive solutions to their customers looking for cost-effective ways to measure, control, record, analyze, and optimize energy and processes through their array of products.

The company also provides complete aluminum high-pressure die-casting solutions for customers requiring close-tolerance fabrication (such as automotive compressor manufacturers and automation high-precision flowmeter manufacturers), machining, and finishing of precision components.

The company is a global leader in the manufacturing and supply of analog panel meters, and they are among the leading global companies in terms of the manufacturing and supply of low-voltage current transformers (Source: F&S Report). Lumel is the most popular brand in Poland for meters, controllers, and recorders, and Lumel Alucast is one of the leading non-ferrous pressure casting players in Europe (source: F&S Report).

It manufactures all its products in-house from its five manufacturing facilities: two in India, two in Poland, and one in China. In India, both manufacturing facilities are situated in Nashik.

Company Key Metrics

Earning Per Share (EPS)₹ 12.84 per Equity Share
ROE12.39%
ROCE13.77%
Return on Net Worth (RoNW)11.67%

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

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

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth408.75346.10302.13
Total Assets648.93563.89511.97
Total Borrowings102.8596.5791.95
Total Revenue579.78479.92402.49
Profit After Tax49.6949.6535.94
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 418 to ₹ 441 per share
Face Value₹ 10 per share
Market Lot34 shares
Issue Size11,128,858 shares (aggregating up to ₹ 490.78 crores)
Fresh Issue1,700,680 shares (aggregating up to ₹ 75 crores)
Offer for Sale9,428,178 shares (aggregating up to ₹ 415.78 crores)
Listing AtNSE, BSE

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot less than 35% of the offer

GMP: Rishabh Instruments IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Rishabh Instruments IPO

The issue opens for subscription on August 30, 2023, and closes for subscription on September 1, 2023 (both days inclusive). The basis of allotment will be finalised on September 6, 2023, and the refunds will be initiated on September 7, 2023. In addition, the demat credits are expected to happen on September 8, 2023, and the stock will be listed on the NSE and BSE on September 11, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateAugust 30, 2023,
Closing DateSeptember 1, 2023
Basis of AllotmentSeptember 6, 2023
Initiation of RefundsSeptember 7, 2023
A credit of shares to Demat A/cSeptember 8, 2023
Listing DateSeptember 11, 2023

Lot Size

The lot size of the Rishabh Instruments IPO is 34 shares. A retail-individual investor can apply for up to 13 lots, i.e. 442 shares of ₹ 194,922.

ApplicationsLotsSharesAmount 
Retail (Minimum)134₹ 14,994
Retail (Maximum)13442₹ 194,922
S-HNI (Minimum)14476₹ 209,916
S-HNI (Maximum)662,244₹ 989,604
B-HNI (Minimum)672,278₹ 1,004,598

Promoters Holdings 

Mr. Narendra Joharimal Goliya are the promoters of the company.

Pre-issue Shares Holdings80.67%
Post-issue Shares Holdings70.68

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationRishabh Instruments Limited
A-54, MIDC, Opposite, MIDC Bus Depot, Andheri (East) Mumbai – 400 093
Phone: +91 253 220 2183
Email: [email protected]
Website: https://rishabh.co.in/
IPO RegistrarKFIN Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Manager(s)1. Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) 
2. Motilal Oswal Investment Advisors Pvt Ltd
3. Mirae Asset Capital Markets (India) Private Limited 

FAQs

The Rishabh Instruments IPO price is ₹ 418 to ₹ 441 per share.

The minimum investment size is one lot for retail investors. One lot of the Rishabh Instruments IPO contains 34 shares of ₹ 14,994.

The finalisation of the basis of allotment for the Rishabh Instruments IPO will be done on September 6, 2023, and the allotted shares will be credited to your demat account by September 8, 2023. Check the Rishabh Instruments IPO allotment status.

The Rishabh Instruments IPO shares listing date is September 11, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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