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The highly anticipated Rishabh Instruments IPO has generated significant interest among investors.
With a robust subscription rate and a listing date on the horizon, investors must understand how to check Rishabh Instruments IPO allotment status and what to expect next.
In this comprehensive guide, we’ll cover everything you need to know about the Rishabh Instruments IPO allotment process and its journey from subscription to listing.
Rishabh Instruments IPO Overview
Rishabh Instruments, a Nashik-based company specializing in the design, development, and manufacturing of test and measuring instruments, conducted its initial public offering (IPO) from August 30 to September 1, with a price band ranging from ₹418 to ₹441 per share.
Rishabh Instruments IPO Subscription Status
The success of an IPO often hinges on its subscription rate, and Rishabh Instruments didn’t disappoint. Let’s delve into the subscription statistics:
Day 1 (Subscription Day 1):
- Overall Subscription: 0.73 times
- Institutional Investors: 1%
- Non-Institutional Investors: 1.24 times
- Retail Investors: 92%
Day 2 (Subscription Day 2):
- Overall Subscription: 2.46 times
- Institutional Investors: 22%
- Non-Institutional Investors: 4.65 times
- Retail Investors: 2.79 times
Day 3 (Subscription Day 3):
- Overall Subscription: 31.65 times
- Institutional Investors: 72.54 times
- Non-Institutional Investors: 31.29 times
- Retail Investors: 8.44 times
These subscription figures reflect the growing interest in Rishabh Instruments IPO, particularly on the final day, when it was oversubscribed by a staggering 31.65 times.
Rishabh Instruments IPO Allotment Process
Step 1: Application
After submitting their applications during the IPO window, investors eagerly await the allotment results. The IPO allotment process typically occurs a few days after the IPO closes.
Step 2: Basis of Allotment
On Wednesday, September 6, the basis of allotment for Rishabh Instruments IPO was determined.
This crucial step determines how many shares each investor will be allocated based on their application details and the subscription rate in different investor categories.
Step 3: Refunds and Demat Credits
Following the basis of allotment, the initiation of refunds for unsuccessful applicants took place on Thursday, September 7.
Successful applicants had their shares credited to their Demat accounts on Friday, September 8.
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How to Check Rishabh Instruments IPO Allotment Status
Investors eagerly check their allotment status to ascertain how many shares they’ve been allocated. Here’s a step-by-step guide on how to do this:
Option 1: Registrar’s Website (KFIN Technologies)
- Visit the KFINTECH website
- Click on any of the links displayed to view IPO Allotment Status.
- Choose “Rishabh Instruments Limited” from the drop-down list.
- Select one of the three options: Application number, Demat Account number, or PAN ID.
- Enter your application number or PAN or DPID.
- Complete the ‘captcha’.
- Click the “Submit” button to view your allotment details.
- Download/print the allotment status for your records.
Option 2: BSE Website
- Visit the official BSE website
- Click on “Equity” under “Issue Type.”
- Select “Rishabh Instruments Limited” from the IPO list.
- Enter your application number or PAN number.
- Complete the ‘Captcha.’
- Click the “Search” button to view your allotment status.
- Download/print the allotment status for your records.
Rishabh Instruments IPO Listing Date
The culmination of this exciting IPO journey will be the listing date. Rishabh Instruments IPO is set to be listed on the stock exchanges on Monday, September 11, 2023.
Rishabh Instruments IPO Issue Details
- Total IPO size: Rs 490.78 crore
- Face value of each share: Rs 10
- New shares for sale: Rs 75 crore (7,500,000 shares)
- Existing shares for sale: Rs 415.78 crore (9,438,858 shares)
- Price range: Rs 418 to Rs 441 per share
- Minimum shares you can buy: 34
Rishabh Instruments IPO GMP
Before the official listing date, shares of Rishabh Instruments were already commanding a grey market premium (GMP) of ₹65 per share.
GMP represents the premium at which IPO shares are traded unofficially before listing on stock exchanges.
| Date | Rishabh Instruments IPO GMP |
|---|---|
| 6-Sept-2023 | ₹71 |
| 5-Sept-2023 | ₹71 |
| 4-Sept-2023 | ₹66 |
| 3-Sept-2023 | ₹66 |
| 2-Sept-2023 | ₹67 |
| 1-Sept-2023 | ₹60 |
| 31-Aug-2023 | ₹48 |
| 30-Aug-2023 | ₹83 |
| 29-Aug-2023 | ₹83 |
| 28-Aug-2023 | ₹30 |
Wrap Up on Rishabh Instruments IPO Allotment Status
The Rishabh Instruments IPO has been remarkable, with substantial investor interest and robust subscription numbers.
As the IPO heads towards its listing date on September 11, 2023, investors can stay informed by checking Rishabh Instruments IPO allotment status using the provided methods.
With its solid fundamentals and market demand, Rishabh Instruments IPO is poised to make its mark on the stock exchanges, offering investors exciting opportunities in test and measuring instruments.
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