The Initial public offering (IPO) of Rishabh Instruments Limited will open for subscription on August 30 and close on September 01. Through this public offer company wants to raise Rs.480.78 Crore from the primary market which comprises Rs. 75 crores fresh issue and 415.78 crore offer for sale. The company has a fixed IPO price band at Rs 418-441, 1 lot size of 34 shares, and listing on September 11, According to the preliminary papers filed to the capital market regulator SEBI and Registrar of Company (ROC).
RISHABH INSTRUMENTS is a global energy-efficient solution provider primary focus on electronic automation, metering, preciously engineering products, etc. The company mainly deals in designing, developing, manufacturing, and supplying electronic automation devices, etc. Apart from the above works company also deals in manufacturing and supplying high-pressure die casting with its subsidiary. In 2023 the company generated more than 80% in revenue from outside India and the maximum from Poland country. The company has access to over 100 countries through its strong network and distribution. In fiscal year 2023 company generated profit of Rs. 49.69 crore and Rs. 49.62 crore in fiscal year 2022.
Manufacturing Services includes:
Software Solutions (e.g. MARC) EMI Testing
Electronic Manufacturing EMC Testing
#Rishabh Instruments IPO Object
The company proposed to use the IPO Funds for the below-mentioned purposes:
- Rs. 62.89 crore of the total net proceeds fund will be used towards the expansion of Nashik Manufacturing facility.
- Rest funds will be used for general corporate purposes and offer expenses.
#Rishabh Instruments Strength
- Ability to drive technology and innovation through R & D
- Globally presence, Global engineering solution provider
- Diversify product portfolio
- Integrated operation and manufacturing capabilities
- Wide customer base
- Well established and recognized brand
- Experienced and dedicated senior management team
#Rishabh Instruments Forward Statements
- Dependence on Manufacturing, dependent on POLAND manufacturing facilities.
- Maximum funds of offer will be reserved for expansion purpose only.
- No long term contract with the customers
- Dependence on the subsidiaries on significant operational.
#Rishabh Instruments IPO Review & Rating
| Issue Size | Rs. 490.78 crore (Book Built Issue) |
| Issue Price | Rs. 441 per share |
| Lot size | 34 shares |
| Market Capitalization | Rs. 1,674 crore |
| Profit – 2023 | Rs. 49.69 crore |
| Total Assets – 2023 | Rs. 684.93 crore |
| Debt/Equity ratio | 0.26 |
| NAV Value | Rs. 109.98 per share |
| Pre-offer Promoters holding | 79.96% |
| Listing on Stock Exchanges | NSE & BSE (Mainboard) |
| IPO Deliver Rating | 5/10 |
#Rishabh Instruments IPO Dates, Price Band, Lot Size & Details
Rishabh Instruments IPO is open from August 25 to September 01, Price band of Rs. 418-44, and the Listing date is September 11.
| Type of issue | Fresh issue and Offer for Sale |
| Issue Size | Rs. 490.78 Crore (11,128,858 shares) |
| Price band | Rs. 418-441 per share |
| Lot size | 34 equity shares |
| Face Value | Rs. 10 each equity share |
| IPO Open | August 30, 2023 |
| IPO Close | September 01, 2023 |
| IPO Allotment Date | September 06, 2023 |
| Refund Date | September 07, 2023 |
| Listing Date | September 11, 2023 |
| Fresh issue (FOR PUBLIC) | Rs. 75 Crore (1,700,680 equity shares) |
| Offer for sale (FOR PROMOTER) | Rs. 415.78 Crore (9,428,178 equity shares) |
#Rishabh Instruments Financials Review (millions)
The following table sets forth the summary of financial information of the company for the financial year ended March 31, 2023, 2022 & 2021.
| Category | March 31, 2023 | March 31, 2022 |
March 31, 2021
|
| Total Revenue | 5,695.40 | 4,702.50 | 3,899.56 |
| New Worth | 4,087.48 | 3,460.98 | 3,021.25 |
| Plan and Property
|
1,925.97 | 1,943.54 | 1,980.76 |
| Profit after Tax (PAT)
|
496.87 | 496.52 | 359.40 |
| Borrowings
|
770.19 | 629.51 | 464.72 |
#Rishabh Instruments IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ended March 31, 2023, 2022 & 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Basic EPS | 12.84 | 12.91 | 9.32 |
| Diluted EPS | 12.76 | 12.89 | 9.32 |
| P/E Ratio | – | – | – |
| Industries P/E Ratio | Not applicable | Not applicable | Not applicable |
| RoNW | 11.67 | 13.82 | 11.61 |
| NAV | 109.98 per equity share | 93.38 per equity share | 80.33 per equity share |
#Rishabh Instruments IPO – DRHP & RHP
Draft Red Herring Prospectus (DRHP) – Click to view/download
Red Herring Prospectus (RHP) – Click to view/download
#Rishabh Instruments IPO Pre-offer and Post-Offer Promoters shareholding
Pre-offer promoter (1) & promoter group (08) shareholding 79.96%
Post-offer promoter & promoter group shareholding 70.68%
#Rishabh Instruments IPO Reservation
Rishabh Instruments IPO total size is Rs. 490.78 Crore (11,128,858 shares) which comprise fresh issue of 1,700,680 equity shares and offer for sale 9,428,178 equity shares.
QIB: Not more than 50% of the offer size i.e 5,564,429 Equity shares
NII: Not less than 15% of the offer size i.e 1,669.329 Equity shares
Retail investor (RII): Not less than 35% of the offer size i.e 3,895,100 equity shares
#Rishabh Instruments Company Promoter
The company has one promoter Mr. Narender Joharimal Goliya
- Pre-offer shareholding: 80.67% (29,250,000 equity shares) Post-offer shareholding: 70.68%
- The average cost of acquisition for promoter-selling shareholders: Rs. 0.28 per equity share.
#Rishabh Instruments IPO Application
Option-1 Apply for IPO through Internet Banking
- Log into your bank account.
- In the invest Tab, you will see ASBA, click on it.
- Choose to apply for IPO and select the ongoing IPO “Rishabh Instruments Limited”
- Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
- After the above steps the respective amount will get blocked till the allotment date and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker
- Log into your broker account (Upstox/Zerodha etc.)
- Click on the IPO tab and select the ongoing IPO “Rishabh Instruments Limited”
- Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
- Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or get refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
- Visit the nearest branch of your bank
- Fill out the ASBA form and submit it with KYC details
- Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
#Rishabh Instruments IPO Registrar
KFin Technologies Limited
Regd. Office: Selenium, Tower B, Plot No. – 31 and 32 Financial District Nanakramguda, Serilingampally Hyderabad, Rangareddy 500 032, Telangana
Tel: +91 406716222 and Email: rishabh.ipo@kfintech.com
#Rishabh Instruments IPO lead manager
#1 DAM Capital Advisors Limited
Regd. Office: One BKC, Tower C, 15th Floor Unit no. 1511, Bandra Kurla Complex Bandra (East), Mumbai 400 051
Tel: +91-22 -42022 500, Email: rishabh.ipo@damcapital.in
#2 Mirae Asset Capital Markets (India) Private Limited
Regd. Office: 1 st Floor, Tower 4, Equinox Business Park LBS Marg,
Off BKC, Kurla (West) Mumbai 400 070
Tel: +91-22 -6266130, Email: rishabh.ipo@miraeassetcm.com
#3 Motilal Oswal Investment Advisors Private Limited
Regd. Office: 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai 400 025
Tel: +91-22 -71934380, Email: rishabh.ipo@motilaloswal.com
#Rishabh Instruments Company Details
Rishabh Instruments Limited (Registered on October 06, 1982)
Regd. Office: A-54MIDC, Opposite MIDC bus depot Andheri East Mumbai – 400 093, Maharashtra
Tel: +91 22 28254047 E-mail: cs@rishabh.co.in
Website: www.rishabh.co.in
Investor Grievances/Compliance officer: Mr. Ajinkya Joglekar
Subsidiaries:
The company has four direct subsidiaries and four indirect subsidiaries.
Direct Subsidiaries:
Shanghai VA (China) Sifam USA (USA)
Dhruv Enterprises (Cyprus) ESL (India)
Indirect Subsidiaries:
Lumel Slask (Poland) Lumel Alucast (Poland)
Sifam UK (UK) Lumel SA (Poland)
#Rishabh Instruments Company Board (Top 3)
Mr. Narender Joharimal Goliya (71) Chairman & Managing Director
Mr. Parappath Kottekode Ramakrishnan (73) Non-Executive director
Mrs. Alipt Sharma (46) Non-Executive nominee directors
#Rishabh Instruments IPO – Frequently Asked Questions (FAQ’s)
Q-1 what is Rishabh Instruments IPO Open date?
Ans: Rishabh Instruments IPO opening date is August 30 – September 01, 2023.
Q-2 what is Rishabh Instruments IPO Close date?
Ans: Rishabh Instruments IPO opening date is September 01, 2023.
Q-3 What is Rishabh Instruments IPO Listing date?
Ans: Rishabh Instruments IPO opening date is September 11, 2023
Q-4 What is Rishabh Instruments IPO Minimum investment amount?
Ans: Rishabh Instruments IPO minimum investment amount is Rs. 14,994
Q-5 What is Rishabh Instruments IPO offer issue Size?
Ans: Rishabh Instruments offer an issue size of Rs. 490.78 crores, which comprise fresh issue and offer for sale.
Q-6 What is Rishabh Instruments IPO Price Band?
Ans: Rishabh Instruments IPO price band is Rs 418-441 per share.
Q-7 Is any similar segment/sector listed company in India?
Ans: No
Q-8 Is Rishabh Instruments IPO mainboard IPO or SME IPO?
Ans: Rishabh Instruments IPO is the Mainboard IPO.
Q-9. What is Rishabh Instruments’ promoter name?
Ans: Rishabh Instruments has five promotors Mr. Narender Joharimal Goliya.
Q-10 Rishabh Instruments IPO Rating by IPO Deliver Team?
Ans: Five Rating