Bookbuilding IPO | ₹491 Cr | Listed at BSE, NSE | Wed, Aug 30, 2023 - Fri, Sep 1, 2023
Rishabh Instruments IPO is a book build issue of ₹490.78 crores. The issue is a combination of fresh issue of 0.17 crore shares aggregating to ₹75.00 crores and offer for sale of 0.94 crore shares aggregating to ₹415.78 crores.
Rishabh Instruments IPO bidding started from Aug 30, 2023 and ended on Sep 1, 2023. The allotment for Rishabh Instruments IPO was finalized on Sep 6, 2023. The shares got listed on BSE, NSE on Sep 11, 2023.
Rishabh Instruments IPO price band is set at ₹441 per share. The lot size for an application is 34. The minimum amount of investment required by an retail is ₹14,994 (34 shares) (based on upper price). The lot size investment for sNII is 14 lots (476 shares), amounting to ₹2,09,916, and for bNII, it is 67 lots (2,278 shares), amounting to ₹10,04,598.
Dam Capital Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Rishabh Instruments IPO RHP for detailed Information.
IPO Open
Wed, Aug 30, 2023
IPO Close
Fri, Sep 1, 2023
Issue Price
₹441 per share
Market Cap (Pre-IPO)
₹1,674.10 Cr
| IPO Date | 30 Aug to 1 Sep, 2023 |
| Listed on | Mon, Sep 11, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹418 to ₹441 |
| Issue Price | ₹441 per share |
| Lot Size | 34 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,11,28,858 shares (agg. up to ₹491 Cr) |
| Fresh Issue | 17,00,680 shares (agg. up to ₹75 Cr) |
| Offer for Sale | 94,28,178 shares of ₹10 (agg. up to ₹416 Cr) |
| Share Holding Post Issue | 3,79,61,358 shares |
| BSE Script Code / NSE Symbol | 543977 / RISHABH |
| ISIN | INE0N2P01017 |
Rishabh Instruments IPO offers total 1,11,28,858 shares. Out of which 55,64,428 (50.00%) allocated to QIB, 22,25,772 (20.00%) allocated to QIB (Ex- Anchor), 16,69,329 (15.00%) allocated to NII 38,95,101 (35.00%) allocated to RII and 33,38,656 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 55,64,428 (50.00%) | NA |
| − Anchor Investor Shares Offered | 33,38,656 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 22,25,772 (20.00%) | NA |
| NII (HNI) Shares Offered | 16,69,329 (15.00%) | NA |
| − bNII > ₹10L | 11,12,886 (10.00%) | 2,337 |
| − sNII < ₹10L | 5,56,443 (5.00%) | 1,168 |
| Retail Shares Offered | 38,95,101 (35.00%) | 1,14,561 |
| Total Shares Offered | 1,11,28,858 (100.00%) |
Investors can bid for a minimum of 34 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,994 |
| Retail (Max) | 13 | 442 | ₹1,94,922 |
| S-HNI (Min) | 14 | 476 | ₹2,09,916 |
| S-HNI (Max) | 66 | 2,244 | ₹9,89,604 |
| B-HNI (Min) | 67 | 2,278 | ₹10,04,598 |
Rishabh Instruments IPO raises ₹147.23 crore from anchor investors. Rishabh Instruments IPO Anchor bid date is August 29, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Aug 29, 2023 |
| Shares Offered | 33,38,656 |
| Anchor Portion (₹ Cr.) | 147.23 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 6, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 5, 2023 |
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 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 648.93 | 563.89 | 511.97 |
| Total Income | 579.78 | 479.92 | 402.49 |
| Profit After Tax | 49.69 | 49.65 | 35.94 |
| NET Worth | 408.75 | 346.10 | 302.13 |
| Total Borrowing | 102.85 | 96.57 | 91.95 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Financing the cost towards the Expansion of Nashik Manufacturing Facility I | 62.89 |
| 2 | General corporate purposes | 7.92 |
| KPI | |
|---|---|
| ROE | 12.39% |
| ROCE | 13.77% |
| Debt/Equity | 0.26 |
| RoNW | 11.67% |
| PAT Margin | 8.57% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.84 | |
| P/E (x) | 33.69 | |
| Promoter Holding | 80.67% | 70.68% |
| Market Cap | ₹1,674.10 Cr. |
The Rishabh Instruments IPO is subscribed 31.65 times on September 1, 2023 7:02:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 72.54 | 22,25,772 | 16,14,57,840 |
| NII | 31.29 | 16,69,329 | 5,22,32,772 |
| bNII (bids above ₹10L) | 34.01 | 11,12,886 | 3,78,45,604 |
| sNII (bids below ₹10L) | 25.86 | 5,56,443 | 1,43,87,168 |
| Retail | 8.44 | 38,95,101 | 3,28,80,550 |
| Total | 31.65 | 77,90,202 | 24,65,71,162 |
Total Application : 8,65,227
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission) | 11.04 |
| 2 | Commission/processing fee for SCSBs and Sponsor Bank. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.48 |
| 3 | Fees payable to the Registrar to the Offer | 0.49 |
| 4 | Others: Listing fees, SEBI, BSE and NSE processing fees, book building software fees and other regulatory expenses; Printing and distribution of stationery, Advertising and marketing expenses, Fee payable to legal counsel; and Miscellaneous. | 13.08 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹441.00 | ₹441.00 |
| Open | ₹460.00 | ₹460.05 |
| Low | ₹432.25 | ₹432.35 |
| High | ₹469.65 | ₹470.00 |
| Last Trade | ₹442.75 | ₹443.15 |
Rishabh Instruments IPO is a main-board IPO of 1,11,28,858 equity shares of the face value of ₹10 aggregating up to ₹491 Crores. The issue is priced at ₹441 per share. The minimum order quantity is 34.
The IPO opens on Wed, Aug 30, 2023, and closes on Fri, Sep 1, 2023.
Kfin Technologies Ltd. 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 Wed, Aug 30, 2023 and closes on Fri, Sep 1, 2023.
Rishabh Instruments IPO lot size is 34, and the minimum amount required for application is ₹14,994.
You can apply in Rishabh Instruments 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 Rishabh Instruments IPO will be done on Wednesday, September 6, 2023, and the allotted shares will be credited to your demat account by Fri, Sep 8, 2023. Check the Rishabh Instruments IPO allotment status.
The Rishabh Instruments IPO listing date is on Mon, Sep 11, 2023.
