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Riddhi Corporate IPO is a fixed price issue of ₹12.35 crores. The issue is entirely a fresh issue of 0.10 crore shares of ₹12.35 crore.
Riddhi Corporate IPO bidding started from Jun 12, 2017 and ended on Jun 15, 2017. The shares got listed on BSE SME on Jun 22, 2017.
Riddhi Corporate IPO price is ₹130.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹1,30,000 (1000 shares). The minimum lot size investment for HNI is 2 lots (2,000 shares), amounting to ₹2,60,000.
Gretex Corporate Services Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The market maker of the company is Beeline Broking Ltd..
Refer to Riddhi Corporate IPO RHP for detailed Information.
| IPO Date | June 12, 2017 to June 15, 2017 |
| Listing Date | June 22, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹130 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 9,50,000 shares (aggregating up to ₹12.35 Cr) |
| Reserved for Market Maker | 50,000 shares Beeline Broking Ltd. (aggregating up to ₹0.6500 Cr) |
| Net Offered to Public | 9,00,000 shares (aggregating up to ₹11.70 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 23,00,000 shares |
| Share Holding Post Issue | 32,50,000 shares |
Riddhi Corporate Services IPO offers total 9,50,000 shares. Out of which 4,50,000 (47.37%) allocated to NII, 4,50,000 (47.37%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 50,000 (5.26%) |
| NII (HNI) Shares Offered | 4,50,000 (47.37%) |
| Retail Shares Offered | 4,50,000 (47.37%) |
| Total Shares Offered | 9,50,000 (100.00%) |
Riddhi Corporate IPO opens on June 12, 2017, and closes on June 15, 2017.
| IPO Open Date | Mon, Jun 12, 2017 |
| IPO Close Date | Thu, Jun 15, 2017 |
| Tentative Listing Date | Thu, Jun 22, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jun 15, 2017 |
Investors can bid for a minimum of 1,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,30,000 |
| Retail (Max) | 1 | 1,000 | ₹1,30,000 |
| HNI (Min) | 2 | 2,000 | ₹2,60,000 |
Incorporated in 2009, Riddhi Corporate Services Ltd is engaged in Business Process Outsourcing (BPO) to serve the needs of Telecom, Banking, Govt Institutions, Insurance Companies rendering services to Telecommunication Service provider, Banking Sector, NonBanking Financing Institutions, E-Wallet Service provider etc.
Company commenced its business activities by rendering services to Telecommunication service providers. They provide services of Data Management, Collection and Handling of Customer Application Form (CAF), Audit of CAF, order entry of CAF, CAF Barcoding, Inward, Storage and Retrieval of Data, Temporary Indexing, Data Entry, Scanning, uploading and Sample image Audit at Spoke Level. In addition, they are rendering services of Collection of Dues, Retention, Bill Delivery management Services along with over dues amount from subscriber by way Tele
calling, Field visit, Address the Customer's Issue and retain the Customer, Escalation Management while collecting Overdue Amount.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 16 |
The Company Riddhi Corporate IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Acquisitions and Other Strategic Initiatives | 2.23 |
| 2 | Capital Expenditure | 6.62 |
| 3 | General Corporate Purpose | 3.00 |
| 4 | Public Issue Expenses | 0.50 |
[Dilip Davda] Issue is aggressively priced, merchant banker has poor track record. Considering these, there is no harm giving this offer a miss. Read detail review...
| Listing Date | June 22, 2017 |
| BSE Script Code | 540590 |
| NSE Symbol | |
| ISIN | INE325X01015 |
| Final Issue Price | ₹130 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹130.00 |
| Open | ₹135.10 |
| Low | ₹134.50 |
| High | ₹135.10 |
| Last Trade | ₹134.50 |
Riddhi Corporate Services Ltd.
10, Mill Officers Colony
Behind Old RBI,
Ashram Road
Ahmedabad, Gujarat, 380009
Phone: +91-79-26580767
Email: investor@rcspl.net
Website: http://www.riddhicorporate.co.in
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: busicomp@gmail.com
Website: https://www.purvashare.com/investor-service/ipo-query
Riddhi Corporate IPO is a SME IPO of 9,50,000 equity shares of the face value of ₹10 aggregating up to ₹12.35 Crores. The issue is priced at ₹130 per share. The minimum order quantity is 1000.
The IPO opens on June 12, 2017, and closes on June 15, 2017.
Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Riddhi Corporate IPO using UPI as a payment gateway. Zerodha customers can apply in Riddhi Corporate IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Riddhi Corporate IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Riddhi Corporate IPO opens on June 12, 2017 and closes on June 15, 2017.
Riddhi Corporate IPO lot size is 1000, and the minimum amount required for application is ₹1,30,000.
You can apply in Riddhi Corporate IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Riddhi Corporate IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Riddhi Corporate IPO allotment status.
The Riddhi Corporate IPO listing date is on Thursday, June 22, 2017.
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