Bookbuilding IPO | ₹89 Cr | Listed at BSE SME | Wed, Jan 15, 2025 - Fri, Jan 17, 2025
Rikhav Securities IPO is a book build issue of ₹88.82 crores. The issue is a combination of fresh issue of 0.83 crore shares aggregating to ₹71.62 crores and offer for sale of 0.20 crore shares aggregating to ₹17.20 crores.
Rikhav Securities IPO bidding started from Jan 15, 2025 and ended on Jan 17, 2025. The allotment for Rikhav Securities IPO was finalized on Jan 20, 2025. The shares got listed on BSE SME on Jan 22, 2025.
Rikhav Securities IPO price band is set at ₹86 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,37,600 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,75,200.
Smart Horizon Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd..
Refer to Rikhav Securities IPO RHP for detailed Information.
IPO Open
Wed, Jan 15, 2025
IPO Close
Fri, Jan 17, 2025
Issue Price
₹86 per share
Market Cap (Pre-IPO)
₹329.31 Cr
| IPO Date | 15 to 17 Jan, 2025 |
| Listed on | Wed, Jan 22, 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹82 to ₹86 |
| Issue Price | ₹86 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 1,03,28,000 shares (agg. up to ₹89 Cr) |
| Reserved for Market Maker | 5,24,800 shares Shreni Shares Ltd. (agg. up to ₹5 Cr) |
| Fresh Issue (Ex Market Maker) | 78,03,200 shares (agg. up to ₹67 Cr) |
| Offer for Sale | 20,00,000 shares of ₹5 (agg. up to ₹17 Cr) |
| Net Offered to Public | 98,03,200 shares (agg. up to ₹84 Cr) |
| Share Holding Pre Issue | 2,99,64,000 shares |
| Share Holding Post Issue | 3,82,92,000 shares |
| BSE Script Code | 544340 |
| ISIN | INE0CFH01028 |
Rikhav Securities IPO comprises a total issue size of 1,03,28,000 shares. The net offer to the public is 98,03,200 shares, after excluding 5,24,800 shares allotted on a firm basis. Of the Net offer 48,75,200 (49.73%) are allocated to QIB, 14,80,000 (15.10%) allocated to NII 34,48,000 (35.17%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 48,75,200 | 49.73% | 47.20% |
| − Anchor Investor Shares Offered | 29,20,000 | 28.27% | |
| − QIB (Ex. Anchor) Shares Offered | 19,55,200 | 18.93% | |
| NII (HNI) Shares Offered | 14,80,000 | 15.10% | 14.33% |
| Retail Shares Offered | 34,48,000 | 35.17% | 33.38% |
| Firm Reservations | |||
| Market Maker Shares Offered | 5,24,800 | 5.08% | |
| Total Shares Offered | 1,03,28,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,37,600 |
| Retail (Max) | 1 | 1,600 | ₹1,37,600 |
| HNI (Min) | 2 | 3,200 | ₹2,75,200 |
Rikhav Securities IPO raises ₹25.11 crore from anchor investors. Rikhav Securities IPO Anchor bid date is January 14, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jan 14, 2025 |
| Shares Offered | 29,20,000 |
| Anchor Portion (₹ Cr.) | 25.11 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Feb 19, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Apr 20, 2025 |
Incorporated in 1995, Rikhav Securities Limited is a financial services company in India that offers brokerage, investing, and banking services.
The company is registered with SEBI as a stockbroker and holds memberships with BSE Limited (BSE), the National Stock Exchange of India (NSE), and the Multi Commodity Exchange (MCX).
The company's services include equity broking, cash delivery, intra-day trading, futures, and options.
The company trades in various derivative and commodity segments. As a Self-Clearing Member of the Indian Clearing Corporation and NSE Clearing, the company ensure smooth trade settlements. Rikhav Securities helps clients participate in IPOs and provides depository services for demat accounts.
As mutual fund advisors, the company guides clients through their investment options.
The company also undertakes market-making activities.
Competitive Strength
As of September 30, 2024, the company has about 394 employees managing daily operations and administrative, legal, and accounting functions.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 337.91 | 302.07 | 187.72 | 180.71 |
| Total Income | 96.16 | 111.34 | 54.52 | 42.98 |
| Profit After Tax | 50.37 | 42.65 | 19.10 | 17.62 |
| NET Worth | 188.45 | 138.08 | 94.96 | 75.86 |
| Reserves and Surplus | 173.47 | 123.10 | 79.98 | 70.87 |
| Total Borrowing | 25.98 | 48.06 | 9.94 | 15.06 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding our incremental working capital requirements; | 46.00 |
| 2 | Funding of capital expenditure requirements of our Company towards purchase of IT Software, Computers and Laptops | 4.13 |
| 3 | General corporate purposes; | 12.76 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 36.60% |
| ROCE | 29.48% |
| Debt/Equity | 0.35 |
| RoNW | 30.89% |
| PAT Margin | 40.94% |
| Price to Book Value | 1.87 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 14.23 | 26.31 |
| P/E (x) | 6.04 | 3.27 |
| Promoter Holding | 90.55% | 65.63% |
| Market Cap | ₹329.31 Cr. |
The Rikhav Securities IPO is subscribed 307 times on January 17, 2025 6:19:07 PM (Day 3). The public issue subscribed 251.36 times in the retail category, 170.92 times in the QIB category, and 616.42 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 170.92 | 19,55,200 | 33,41,84,000 | 141 |
| NII* | 616.42 | 14,80,000 | 91,23,02,400 | 41,882 |
| Retail | 251.36 | 34,48,000 | 86,66,84,800 | 5,41,729 |
| Total | 307 | 68,83,200 | 2,11,31,71,200 | 8,69,941 |
Total Application : 8,69,941
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including Underwriting Commission | 4.81 |
| 2 | Brokerage, selling, commission and upload fees | 0.01 |
| 3 | Registrar to the Issue | 0.02 |
| 4 | Legal Advisors | 0.02 |
| 5 | Advertising and Marketing expenses | 3.58 |
| 6 | Regulators including stock exchanges | 0.04 |
| 7 | Printing and distribution of issue stationery | 0.01 |
| 8 | Others, if any (market making, depositories, secretarial, peer review etc.) | 0.24 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹86.00 |
| Open | ₹163.40 |
| Low | ₹163.40 |
| High | ₹171.57 |
| Last Trade | ₹171.55 |
Lead Manager Reports
Rikhav Securities IPO is a SME IPO of 1,03,28,000 equity shares of the face value of ₹5 aggregating up to ₹89 Crores. The issue is priced at ₹86 per share. The minimum order quantity is 1600.
The IPO opens on Wed, Jan 15, 2025, and closes on Fri, Jan 17, 2025.
MUFG Intime 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 Rikhav Securities IPO using UPI as a payment gateway. Zerodha customers can apply in Rikhav Securities IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rikhav Securities IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rikhav Securities IPO opens on Wed, Jan 15, 2025 and closes on Fri, Jan 17, 2025.
Rikhav Securities IPO lot size is 1600, and the minimum amount required for application is ₹1,37,600.
You can apply in Rikhav Securities 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 Rikhav Securities IPO will be done on Monday, January 20, 2025, and the allotted shares will be credited to your demat account by Tue, Jan 21, 2025. Check the Rikhav Securities IPO allotment status.
The Rikhav Securities IPO listing date is on Wed, Jan 22, 2025.
