Rishabh Instruments Limited IPO IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

IPO Details IPO GMP IPO Subscription Reviews About Company IPO Timeline KPI Financial Information Peer Comparison Allotment

The Rishabh Instruments IPO, valued at Rs 490.78 crores, is a book-built issue. It comprises a fresh issue of 0.17 crore shares worth Rs 75.00 crores and an offer for sale of 0.94 crore shares worth Rs 415.78 crores

The bidding for Rishabh Instruments IPO commenced on August 30, 2023, concluding on September 1, 2023. Allotment for the IPO was completed on Wednesday, September 6, 2023. Subsequently, the shares were listed on both BSE and NSE on September 11, 2023.

Rishabh Instruments' IPO price range is ₹418 to ₹441 per share, with a minimum lot size of 34 shares. Retail investors need ₹14,994 for the minimum investment. For sNII, the minimum investment is ₹209,916 (14 lots, 476 shares), and for bNII, it's ₹1,004,598 (67 lots, 2,278 shares).

Dam Capital Advisors Ltd (formerly known as Idfc Securities Ltd), Motilal Oswal Investment Advisors Limited, and Mirae Asset Capital Markets (India) Private Limited are the book running lead managers for the Rishabh Instruments IPO, with Kfin Technologies Limited serving as the registrar for the issue.

OBJECTIVE OF IPO

• Offer for Sale

• Expansion Project – Nashik Manufacturing Facility – I & Corporate Purposes.

Rishabh Instruments Limited IPO IPO Details
IPO Date	August 30, 2023 to September 01, 2023
Listing Date	September 11, 2023
Face Value	10
Price	418-441
Lot Size	34 shares
Total Issue Size	490.78
Fresh Issue	1,700,680 shares (aggregating up to ₹75.00 Cr)
Offer for Sale	9,428,178 shares of ₹10 (aggregating up to ₹415.78 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE, BSE
Share holding pre issue	36,260,678
Share holding post issue	37,961,358

Rishabh Instruments Limited IPO IPO Lot Size
Application	Lots	Shares	Amount
Retail (Min)	1	34	₹14,994
Retail (Max)	13	442	₹194,922
S-HNI (Min)	14	476	₹209,916
S-HNI (Max)	66	2,244	₹989,604
B-HNI (Min)	67	2,278	₹1,004,598

Rishabh Instruments Limited IPO IPO Timeline (Tentative Schedule)
IPO Open Date	Wednesday, August 30, 2023
IPO Close Date	Friday, September 1, 2023
Basis of Allotment	Wednesday, September 6, 2023
Initiation of Refunds	Thursday, September 7, 2023
Credit of Shares to Demat	Friday, September 8, 2023
Listing Date	Monday, September 11, 2023
Cut-off time for UPI mandate confirmation	5 PM on September 1, 2023

Rishabh Instruments Limited IPO IPO Reservation
Investor Category	Shares Offered	Reservation %
Anchor Investor Shares Offered	3,338,656 (30.00%)	N/A
QIB Shares Offered	2,225,772 (20.00%)	NA
NII (HNI)	1,669,329 (15.00%)
bNII > ₹10L	1,112,886 (10.00%)	2,337
sNII < ₹10L	556,443 (5.00%)	1,168
Retail Shares Offered	3,895,101 (35.00%)	114,561
Total Shares Offered	11,128,858 (100%)

Rishabh Instruments Limited IPO IPO Promoter Holding
Share Holding Pre Issue	80.76%
Share Holding Post Issue	70.68%

Rishabh Instruments Limited IPO IPO Subscription Status
Investor Category	Shares Offered	Shares Bid For	No oF Times Subscribed

About Rishabh Instruments Limited IPO Limited

Since 1982, company manufactures, design, and develop Testing and Measuring Instruments and Industrial Control Products providing comprehensive solutions to customers looking for cost-effective ways to measure, control, record, analyze and optimize energy and processes through an array of products through a B2B model. • Electrical Automation Devices • Metering, Control, and Protection Devices • Portable Test and Measuring Instruments • Solar String Inverters The company has 5 manufacturing units, 270+ dealers across 70+ countries. Serves 150+ dealers in India.

RISK FACTOR

• Heavily relies on Manufacturing with no major longterm contract.

• May lose customers due to lack of quality.

• Shortages in the supply of semiconductors can materially effect on operations and financial.

Rishabh Instruments Limited IPO Limited Financial Information (Restated Consolidated)

Amount in (Rs. Crore)

Period Ended	31 Mar 2023	31 Mar 2022	31 Mar 2021
Reserve of Surplus	360	315	273.8
Total Assets	648.93	563.89	511.97
Total Borrowings	102.85	96.57	91.95
Fixed Assets	200.2	199.45	200.14
Cash	106.05	105.1	117.92
Net Borrowing	-3.2	-8.51	-25.97
Revenue	579.78	479.92	402.49
EBITDA		82.632	70.021
PAT	49.69	49.65	35.94
EPS	12.84	12.91	9.32

Key Performance Indicator
KPI	Values
EPS Pre IPO (Rs.)	12.84
EPS Post IPO (Rs.)	-
P/E Pre IPO	-
P/E Post IPO	33.69
ROE	12.39%
ROCE	13.77%
P/BV	4.01
Debt/Equity	0.26
RoNW	11.67%

Rishabh Instruments Limited IPO Limited IPO Peer Comparison
Company Name	EPS	ROCE	ROE	P/E (x)	P/Bv	Debt/Equity	RoNW (%)
No direct Listed Player	-	-	-	-	-	-	-

Rishabh Instruments Limited IPO Limited Contact Details

Rishabh Instruments Limited
A-54, MIDC, Opposite,
MIDC Bus Depot, Andheri (East)
Mumbai - 400 093
Phone: +91 253 220 2183
Email: cs@rishabh.co.in
Website: https://rishabh.co.in/

Rishabh Instruments Limited IPO IPO Registrar and Lead Manager(s)

Kfin Technologies Limited

KFintech, Tower-B, Plot No 31 & 32, Gachibowli, Hyderabad

Website: https://kosmic.kfintech.com/ipostatus/

Phone: 04067162222, 04079611000

Email: rishabh.ipo@kfintech.com

Rishabh Instruments Limited IPO IPO Review

Rishabh Instruments Ltd. (RIL) is a global energy efficiency solutions company specializing in electrical automation, metering, and precision engineered products. Its diverse applications span industries like power, automotive, and industrial sectors. RIL supplies a wide range of electrical measurement and process optimization equipment under its own brand. Financially, it has shown turnover/net profit of Rs. 402.49 cr. / Rs. 35.94 cr. (FY21), Rs. 479.92 cr. / Rs. 49.65 cr. (FY22), and Rs. 597.78 cr. / Rs. 49.69 cr. (FY23). Although FY23 saw top-line growth, the bottom line remained static. The company hasn't declared equity dividends. With 66% export revenue, RIL offers global solutions. Based on FY23 earnings, the issue seems fully priced, suitable for informed investors eyeing medium to long-term prospects.

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