Rikhav Securities was incorporated on March 21, 1995. The company is engaged in equity broking, investing, and trading activities. Registered with SEBI as a stock broker, it holds memberships with BSE, NSE, and MCX. It offers services like cash delivery, intraday trading, futures, options, and trading in derivatives and commodities. As a Self-Clearing Member of ICCL and NCL, it ensures seamless trade settlement
| Bidding Dates |
|---|
| 15 Jan 2025 - 17 Jan 2025 |
| Subscription |
|---|
| 285.33x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,31,200 | 1 | 1 | 1600 | 10.3 M | ₹82 - ₹86 | 60.08 % | ₹846.9 M - ₹888.2 M | RHP DOC |
Rikhav Securities Ltd. IPO SUBSCRIPTION STATUS
17 Jan '25Rikhav Securities Ltd. IPO overall subscription rate was 285.33 times the total available shares
Rikhav Securities Ltd. IPO retail subscription rate was 334.27 times in the retail segment
Rikhav Securities Ltd. IPO non-institutional investor subscription rate was 821.48 times in the non-institutional investor category
Rikhav Securities Ltd. IPO Qualified Institutional Bidder subscription rate was 90.22 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
17 Jan 2025 (Day 3) | 334.27x | 821.48x | 90.22x |
16 Jan 2025 (Day 2) | 79.01x | 38.32x | 0.46x |
15 Jan 2025 (Day 1) | 18.17x | 10.08x | - |
Rikhav Securities Ltd. 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 |
| H1FY25 | 503.7 | 928.6 | 233.0 | 228.5 | 67.5% |
| FY24 | 426.5 | 1041.6 | 469.4 | 463.7 | 46.3% |
| FY23 | 195.7 | 494.7 | -88.7 | -101.4 | 47.3% |
| FY22 | 176.2 | 355.0 | -366.4 | -375.7 | 51.6% |
Rikhav Securities Ltd. IPO SUBSCRIPTION STATUS DETAILS
Rikhav Securities Ltd. had 10.3 M shares on offer
Rikhav Securities Ltd. IPO offer price was in the range ₹82 - ₹86
Rikhav Securities Ltd. IPO minimum Investment was ₹131200
Rikhav Securities Ltd. IPO issue size was ₹ 846.9 M - ₹ 888.2 M
Rikhav Securities Ltd. had a minimum lot size of 1600 Shares per application
Rikhav Securities Ltd. NUMBER OF SHARES ON OFFER
Rikhav Securities Ltd. IPO IMPORTANT DATES
| Issue Open Date | 15 Jan 2025 |
| Issue close Date | 17 Jan 2025 |
| Allotment Date | 20 Jan 2025 |
| Refund Date | 21 Jan 2025 |
| Demat Account Credit Date | 21 Jan 2025 |
| Listing Date | 22 Jan 2025 |
| Listing on Exchange(s) | BSE |
| Rikhav Securities Ltd. Allotment Status | Exchange |
Rikhav Securities Ltd. IPO subscription opened on 15 Jan 2025, and closed on 17 Jan 2025
IPO allotment for Rikhav Securities Ltd. was finalized on Monday, 20 Jan 2025
IPO listing for Rikhav Securities Ltd. was on BSE on Wednesday, 22 Jan 2025
Rikhav Securities Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 86.0 |
| Listing Open Price | 163.4 |
| Listing Close Price | 171.6 |
| Listing Gain% | 90.0% |
| Current Gain% | -45.4% |
Rikhav Securities Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rikhav Securities Ltd. | 47 | 180 | 9.5 | -0.5 | 0.1 | 7.7 | 4.8 | 1991.6 | 507.6 | 19 | -19.9 | 5 | -19.9 |
| BSE Ltd. | 3457.1 | 140402.9 | 49.6 | 0.6 | 24.3 | 37.4 | 18.6 | 5148.1 | 59.1 | 2497 | 88.3 | 69.7 | 76.9 |
| Billionbrains Garage Ventures Ltd. | 190.5 | 119530.6 | 49 | 1.6 | 22.8 | 21.6 | 11.2 | 4815.9 | 18.6 | 2083 | 14.2 | 3.9 | 30.8 |
| Multi Commodity Exchange of India Ltd. | 2638 | 67266.8 | 43.6 | 0.3 | 25.6 | 46.8 | 17.8 | 2429 | 100.9 | 1331.6 | 137.8 | 60.5 | 136.4 |
| Motilal Oswal Financial Services Ltd. | 870 | 52386.8 | 26.5 | -0.9 | 5.2 | 14.5 | 4.3 | 9416.4 | 11.9 | 1869.3 | -25.3 | 32.9 | -28.8 |
| 360 One Wam Ltd. | 1168.1 | 47528.7 | 37.7 | 1.9 | 10.2 | 12.4 | 4.5 | 4477.3 | 21.5 | 1216.2 | 19.8 | 31 | 19.5 |
Rikhav Securities Ltd. INFORMATION ON IPO ISSUE
About Rikhav Securities Ltd.
Rikhav Securities was incorporated on March 21, 1995. The company is engaged in equity broking, investing, and trading activities. Registered with SEBI as a stock broker, it holds memberships with BSE, NSE, and MCX. It offers services like cash delivery, intraday trading, futures, options, and trading in derivatives and commodities. As a Self-Clearing Member of ICCL and NCL, it ensures seamless trade settlement
Object of the Issue
- Funding their incremental working capital requirements
- Funding of capital expenditure requirements of the company towards purchase of IT software, computers and laptops
- General corporate purposes
Rikhav Securities Ltd. - PROMOTERS
| Name |
|---|
| Hitesh Himatlal Lakhani |
| Rajendra N Shah |
| Bharti Hitesh Lakhani |
| Vaishali R Shah |
| Deep Hitesh Lakhani |
| Monil Rajendra Shah |
| Hitesh Himatlal Lakhani HUF |
Rikhav Securities Ltd. Lead Manager of the Issue
Smart Horizon Capital Advisors Private Limited
director@shcapl.com
Rikhav Securities Ltd. Registrar to the issue
Link Intime India Private Limited
rikhav.smeipo@linkintime.co.in
Rikhav Securities Ltd. Strengths
Client relationship
A dedicated focus on client coverage, timely solutions, and swift complaint resolution has enabled the company to build long-term relationships with high-net-worth clients. This has driven repeat business, sustainable growth, and higher brokerage fees and commissions
Integrated financial services platform
The company offers broking services across Equity, Derivatives, Commodity, and Currency segments, holding memberships with NSE, BSE, and MCX. As a Depository Participant of CDSL and a Market Maker for SME companies, the diverse service portfolio strengthens client relationships and drives business growth
Risk management system
The company has implemented comprehensive risk management procedures for trading activities, including position and trading limits, stress testing, and cash flow management. With dedicated resources in people, technology, and processes, the management team regularly reviews and updates policies to minimize risks effectively
Rikhav Securities Ltd. Risks
Penalties
The company has faced penal actions from stock exchanges and regulatory authorities in the past. Future penalties, if any, could adversely impact its financial condition, operations, and profitability
Cyber risks
The company's operations depend on efficient IT systems to handle daily transactions accurately and provide a seamless digital client experience. While compliant with SEBI's Cyber Security & Resilience framework, the company continuously enhances its technology to meet client needs effectively
Depend on securities market
Market downturns or disruptions in securities trading can lead to reduced transaction volumes, negatively affecting the company's business and profitability
IPO FAQs
This IPO consists of an offer for sale of up to Rs 17.2 crore, of 2,000,000 shares. It also consists of a fresh issue of Rs 71.6 crore.
The promoters of the company are Hitesh Himatlal Lakhani, Rajendra N Shah, Bharti Hitesh Lakhani, Vaishali R Shah, Deep Hitesh Lakhani, Monil Rajendra Shah and Hitesh Himatlal Lakhani HUF.
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 82.0 - 86.0.
The IPO application opens on Jan 15, 2025 and closes on Jan 17, 2025.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 131,200.0, the maximum value for this IPO is Rs 137,600.0.
This IPO will be allotted on Jan 20, 2025.
The refund will be credited to your account on Jan 21, 2025.
The allotted shares will be credited to your demat on Jan 21, 2025.
Rikhav Securities Ltd.’s shares listed on the stock exchanges on Jan 22, 2025.