(L-R) Mr. Dineshkumar Musalekar, Group CEO, Mr. Narendra Goliya, CMD and Mr. Nitinkumar Deshpande, Head – Marketing, Business Development of Rishabh Instruments Limited with product display at IPO Press Conference, Mumbai – Photo By GPN
Mr. Narendra Goliya, CMD, Rishabh Instruments Limited addressing to media at IPO Press Conference, Mumbai – Photo By GPN
- Price Band of ₹418 – ₹441 per equity share bearing face value of ₹10 each (“Equity Shares”)
- Bid/Offer Opening Date – Wednesday, August 30, 2023 and Bid/Offer Closing Date – Friday, September 01, 2023.
- Minimum Bid Lot is 34 Equity Shares and in multiples of 34 Equity Shares thereafter.
- The Floor Price is 41.8 times the face value of the Equity Share and the Cap Price is 44.1 times the face value of the Equity Share.
https://youtu.be/33rJ-UFebvw?feature=shared
MUMBAI, 25 AUGUST, 2023 (GPN): Nashik-based firm Rishabh Instruments Limited is a global energy efficiency solution company focused on electrical automation, metering and measurement, precision engineered products, and others with diverse applications across industries including power, automotive and industrial sectors have fixed the price band at Rs 418 to Rs 441 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Wednesday, August 30, 2023, for subscription and closes on Friday, September 01, 2023. Investors can bid for a minimum of 34 Equity Shares and in multiples of 34 Equity Shares thereafter.
The Public Issue of face value of Rs 10 per Equity Share comprises of a fresh issue of Rs 75 crore and an Offer for Sale (OFS) up to 9.43 million shares by Promoter and Promoter Group.
The Company through its IPO will fetch Rs 469.10 crore – Rs 490.78 crore at the lower and upper end of the price band.
With over four decades of experience in the manufacturing and electrical industry, Narendra Joharimal Goliya founded Rishabh Instruments in the year 1982. The company supplies a wide range of electrical measurement and process optimization equipment and engages in the design, development, manufacturing, and sale of devices—significantly under its own brand—across a number of industries.
It is a vertically integrated player involved in designing, developing, manufacturing and supplying electrical automation devices; metering, control and protection devices; portable test and measuring instruments; and solar string inverters. Additionally, through its subsidiary, Lumel Alucast, it manufactures and supplies high pressure die cast aluminium.
Rishabh Instruments’ revenue from operations increased by 21.11% from Rs 470.25 crore in Fiscal 2022 to Rs 569.54 crore in Fiscal 2023, primarily driven by increase in revenue from sale of goods and from sale of services, whereas profit after tax grew to Rs 49.69 crore in Fiscal 2023, as compared to Rs 49.65 crore in Fiscal 2022.
DAM Capital Advisors Private Limited, Mirae Asset Capital Markets (India) Private Limited and Motilal Oswal Investment Advisors Limited are the book running lead manager and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.
The Issue Size of the IPO based on the upper and lower end of the price band
| Fresh | OFS (9,428,178 equity shares) | Total | |
| Lower Band (@Rs 418) | Rs 75 crore | Rs 394.10 crore | Rs 469.10 crore |
| Upper Band (@Rs 441) | Rs 75 crore | Rs 415.78 crore | Rs 490.78 crore |
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