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 |
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| 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 |
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| 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) |
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| 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 |
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| 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 |
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| Share Holding Pre Issue | 80.76% | ||||||||||
| Share Holding Post Issue | 70.68% | ||||||||||
Rishabh Instruments Limited IPO IPO Subscription Status |
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| Investor Category | Shares Offered | Shares Bid For | No oF Times Subscribed | ||||||||
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.
| 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 |
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| 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 |
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| Company Name | EPS | ROCE | ROE | P/E (x) | P/Bv | Debt/Equity | RoNW (%) | ||||
| No direct Listed Player | - | - | - | - | - | - | - | ||||
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/
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 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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2. Bank Statements of the taxpayer/company/firm
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4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
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7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
1. Aadhaar and PAN Card of the taxpayer and the company
2. Bank Statements of the taxpayer/company/firm
3.Form 26AS: It is a summary of all the taxes that have been deducted from your income, such as TDS (Tax Deducted at Source).
4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
5. Investment and financial documents: If you have invested in shares, mutual funds, or fixed deposits, dividend statements, capital gains reports (if you have sold any assets), and interest certificates need to be attached.
6. Proof of other income: Other than your salary, if you have earned from different sources, such as from freelance work, rental income, or interest, you need to attach the documents, such as bonus receipts, interest certificates, rental agreements, and any freelance payment statements, to prove the same.
7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
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