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Amidst growing excitement in the financial landscape, the much-anticipated Rishabh Instruments IPO is set to make its mark.
As Rishabh Instruments, a renowned Test and Measuring Instruments leader, prepares to plunge into the capital market, the spotlight is firmly fixed on this upcoming IPO, attracting keen interest from investors and industry observers alike.
In this article, we have tried to break down every aspect of the Rishabh Instruments IPO you need to know before applying.
Let’s start with the Objectives of Rishabh Instruments Limited’s IPO.
Objectives of Rishabh Instruments IPO
| Particulars | Estimated Amount (₹ million) |
|---|---|
| Financing the cost towards the Expansion Project | 594.95 |
| General Corporate Purposes* | [●] |
Rishabh Instruments IPO Details
| IPO Date | August 30, 2023 to September 1, 2023 |
| Listing Date | September 11, 2023 |
| Face Value | ₹10 per share |
| Price | ₹418 to ₹441 per share |
| Lot Size | 34 Shares |
| Total Issue Size | 11,128,858 shares (aggregating up to ₹490.78 Cr) |
| 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 | BSE, NSE |
| Share holding pre issue | 36,260,678 |
| Share holding post issue | 37,961,358 |
Rishabh Instruments IPO Tentative Timetable
| 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 IPO Reservation
| Anchor Investor Shares Offered | 3,338,656 (30.00%) |
| QIB Shares Offered | 2,225,772 (20.00%) |
| NII (HNI) Shares Offered | 1,669,329 (15.00%) |
| Retail Shares Offered | 3,895,101 (35.00%) |
| Total Shares Offered | 11,128,858 (100%) |
Rishabh Instruments 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 IPO Financials
| Particulars | As of 09/30/2022 | As of 03/31/2022 | As of 03/31/2021 | As of 03/31/2020 |
|---|---|---|---|---|
| Equity Share Capital (in ₹ million) | 292.50 | 146.25 | 146.25 | 146.25 |
| Net Worth (in ₹ million) | 3,498.76 | 3,460.98 | 3,021.25 | 2,853.60 |
| Revenue from Operations (in ₹ million) | 2,611.43 | 4,702.50 | 3,899.56 | 4,006.93 |
| Profit/(Loss) After Tax (in ₹ million) | 168.32 | 496.52 | 359.40 | 315.47 |
| Earnings per Share (Basic) (in ₹) | 4.25 | 12.91 | 9.32 | 8.03 |
| Earnings per Share (Diluted) (in ₹) | 4.24 | 12.89 | 9.32 | 8.02 |
| Net Asset Value per Equity Share (in ₹) | 94.06 | 93.38 | 80.33 | 74.98 |
| Total Borrowings (as per Balance Sheet) | 981.53 | 965.69 | 919.52 | 817.86 |
Notes:
- Basic earnings per share = Net profit after tax / Weighted average number of shares outstanding during the period/year.
- Diluted earnings per share = Net profit after tax / Weighted average number of potential shares outstanding during the period/year.
- Net asset value per equity share is calculated as the Net Worth (excluding non-controlling interest) divided by the weighted average number of equity shares outstanding during the respective year.
- Borrowings consist of current and non-current (including current maturities of long-term borrowings) borrowings as per the Restated Consolidated Financial Information.
Rishabh Instruments IPO Promoters
Rishabh Instruments Limited’s promoter is Narendra Joharimal Goliya.
Here’s his pre-issue and post-issue share holding in the company:
| Pre Issue Share Holding | 80.67% |
| Post Issue Share Holding | 70.68% |
Rishabh Instruments Limited Company Background
- Founded: 1982
- Business Focus: Manufacturing, design, and development of Test and Measuring Instruments and Industrial Control Products
- Core Solutions: Providing cost-effective solutions for energy and process measurement, control, analysis, and optimization
- Expertise: Complete aluminium high-pressure die-casting solutions for automotive compressor and precision flow meter manufacturers
- Acquisition: Acquired Lumel Alucast in 2011, expanding into low-voltage current transformers
- Additional Services: Mould design, EMI/EMC testing, Electronic Manufacturing Services, software solutions (e.g., MARC)
- Segments:
- Electrical automation devices
- Metering, control, and protection devices
- Portable test and measuring instruments
- Solar string inverters
- Global Presence:
- 3 manufacturing units
- 270+ dealers worldwide
- Presence in 70+ countries
- 150+ dealers across India, covering all states
Rishabh Instruments Limited Industry Overview
The global electrical automation market, valued at USD 139.1 billion in 2021, is poised for significant growth and is expected to reach USD 203.6 billion by 2026.
Simultaneously, the metering, control, and protection devices market, estimated at USD 33 billion in 2021, is projected to expand to USD 41.7 billion by 2026.
In portable test and measurement equipment, a robust 5% growth rate is anticipated, leading to a market worth USD 6.3 billion by 2026.
Moreover, the solar string inverters market is set for substantial expansion, with global revenue forecasted to rise from USD 4 billion in 2021 to USD 6.2 billion in 2026, representing a commendable Compound Annual Growth Rate (CAGR) of 9%.
These trends signify exciting opportunities and advancements in the respective industries.
Rishabh Instruments IPO GMP Today
| Date | Rishabh Instruments IPO GMP |
|---|---|
| 1-Sept-2023 | ₹48 |
| 31-Aug-2023 | ₹48 |
| 30-Aug-2023 | ₹83 |
| 29-Aug-2023 | ₹83 |
| 28-Aug-2023 | ₹30 |
Do you know: 3 Reasons Why Warren Buffett Hates IPOs
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