Founded on October 6, 1982, Rishabh Instruments is a global energy efficiency solutions company focused on electrical automation, metering, measurement, and precision-engineered products. It serves diverse industries like power, automotive, and industrial sectors, supplying a wide range of electrical measurement and process optimization equipment under its brand.
| Bidding Dates |
|---|
| 30 Aug 2023 - 01 Sep 2023 |
| Subscription |
|---|
| 31.65x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,994 | 1 | 13 | 34 | 11.1 M | ₹418 - ₹441 | 70.68 % | ₹4651.9 M - ₹4907.8 M | RHP DOC |
Rishabh Instruments IPO SUBSCRIPTION STATUS
01 Sep '23Rishabh Instruments IPO overall subscription rate was 31.65 times the total available shares
Rishabh Instruments IPO retail subscription rate was 8.44 times in the retail segment
Rishabh Instruments IPO non-institutional investor subscription rate was 31.29 times in the non-institutional investor category
Rishabh Instruments IPO Qualified Institutional Bidder subscription rate was 72.54 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
01 Sep 2023 (Day 3) | 8.44x | 31.29x | 72.54x |
31 Aug 2023 (Day 2) | 2.79x | 4.65x | 0.22x |
30 Aug 2023 (Day 1) | 0.92x | 1.24x | 0.01x |
Rishabh Instruments FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 496.9 | 5,695.4 | 275.1 | -13.5 | 15.2% |
| FY22 | 496.5 | 4,702.5 | 132.8 | -24.0 | 17.6% |
| FY21 | 359.4 | 3,899.6 | 529.3 | 175.5 | 17.9% |
Rishabh Instruments IPO SUBSCRIPTION STATUS DETAILS
Rishabh Instruments had 11.1 M shares on offer
Rishabh Instruments IPO offer price was in the range ₹418 - ₹441
Rishabh Instruments IPO minimum Investment was ₹14994
Rishabh Instruments IPO issue size was ₹ 4651.9 M - ₹ 4907.8 M
Rishabh Instruments had a minimum lot size of 34 Shares per application
Rishabh Instruments NUMBER OF SHARES ON OFFER
Rishabh Instruments IPO IMPORTANT DATES
| Issue Open Date | 30 Aug 2023 |
| Issue close Date | 01 Sep 2023 |
| Allotment Date | 06 Sep 2023 |
| Refund Date | 07 Sep 2023 |
| Demat Account Credit Date | 08 Sep 2023 |
| Listing Date | 11 Sep 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Rishabh Instruments Allotment Status | Exchange |
Rishabh Instruments IPO subscription opened on 30 Aug 2023, and closed on 01 Sep 2023
IPO allotment for Rishabh Instruments was finalized on Wednesday, 06 Sep 2023
IPO listing for Rishabh Instruments was on NSE and BSE on Monday, 11 Sep 2023
Rishabh Instruments IPO LISTING GAINS
| Issue Price (adjusted) | 441.0 |
| Listing Open Price | 460.1 |
| Listing Close Price | 443.1 |
| Listing Gain% | 4.3% |
| Current Gain% | 52.5% |
Rishabh Instruments Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rishabh Instruments Ltd. | 672.5 | 2552.9 | 31.9 | 0.1 | 3.4 | 10.9 | 8.1 | 795.8 | 8.3 | 81.5 | 260.2 | 21.1 | 260.2 |
| Havells India Ltd. | 1280.1 | 80254.8 | 49.1 | 3.1 | 3.4 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Waaree Energies Ltd. | 2697.3 | 77588.2 | 20.3 | 0.3 | 2.6 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Apar Industries Ltd. | 16528 | 66415.6 | 56.2 | 1.7 | 2.7 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 294 | 34 |
| Premier Energies Ltd. | 1042.9 | 47342.6 | 28.4 | 0.5 | 5.6 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Honeywell Automation India Ltd. | 37855 | 33469.5 | 60.7 | 7.9 | 7.1 | 11.8 | 8.4 | 4860.9 | 11.2 | 525 | 0.3 | 623.3 | 7.7 |
Rishabh Instruments INFORMATION ON IPO ISSUE
About Rishabh Instruments
Founded on October 6, 1982, Rishabh Instruments is a global energy efficiency solutions company focused on electrical automation, metering, measurement, and precision-engineered products. It serves diverse industries like power, automotive, and industrial sectors, supplying a wide range of electrical measurement and process optimization equipment under its brand.
Object of the Issue
- Financing the cost towards the expansion of Nashik manufacturing facility
- General corporate purposes
Rishabh Instruments - PROMOTERS
| Name |
|---|
| Narendra Joharimal Goliya |
Rishabh Instruments Book Running Lead Manager
DAM Capital Advisors Limited
rishabh.ipo@damcapital.in
Mirae Asset Capital Markets (India) Private Limited
rishabh.ipo@miraeassetcm.com
Motilal Oswal Investment Advisors Limited
rishabh.ipo@motilaloswal.com
Rishabh Instruments Registrar to the Offer
KFinTechnologies Limited
rishabh.ipo@kfintech.com
Rishabh Instruments Strengths
Advanced research and development capabilities
The company possesses advanced research and development capabilities, allowing it to drive technology and innovation effectively
Large addressable markets
The company operates as a global engineering solution provider in sizable markets, strategically positioned to capitalize on significant industrialization trends
Diversified product portfolio
As of May 31, 2023, the company maintains a product portfolio consisting of more than 145 product lines and 0.13 million stock-keeping units. Over the fiscal years 2023, 2022, and 2021, it produced a combined total of 16.21 million units, 14.02 million units, and 13.35 million units across its various product lines
Rishabh Instruments Risks
Shortages of semiconductors
Shortages in semiconductor supply have had and may continue to exert a significant adverse impact on the company's financial condition and operational results
Legal proceedings
The company, its subsidiaries, directors, and promoters are currently engaged in legal proceedings. Adverse outcomes from these proceedings could negatively impact the company's reputation, business operations, financial condition, results of operations, and cash flows
Faces competition
The company faces competition from both domestic and multinational corporations. Inability to compete effectively may lead to the loss of customers and market share, potentially impacting the business adversely
IPO FAQs
This IPO consists of an offer for sale of up to Rs 415.8 crore, of 9,428,178 shares. It also consists of a fresh issue of Rs 75.0 crore.
The promoter of the company is Narendra Joharimal Goliya.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 418.0 - 441.0.
The IPO application opens on Aug 30, 2023 and closes on Sep 01, 2023.
The minimum lot size for the IPO is 34. The maximum lot size for the IPO is 442.
For all category investors, the minimum application amount for this IPO is Rs. 14,994.0, the maximum value for this IPO is Rs 194,922.0.
This IPO will be allotted on Sep 06, 2023.
The refund will be credited to your account on Sep 07, 2023.
The allotted shares will be credited to your demat on Sep 08, 2023.
Rishabh Instruments Ltd.’s shares listed on the stock exchanges on Sep 11, 2023.