Rishabh Instruments Limited IPO : Key Dates

Rishabh Instruments Limited IPO is set to launch on 30 August, 2023. The company initiated its business operations in 1982. The company designs, manufactures, develops Test and Measuring Instruments and Industrial Control Products. The company acquired LUMEL Alucast in 2011 which is a non ferrous pressure casting entity in Europe. It was a key aid in manufacturing and supply of low voltage current transformers. Other products offered by the company includes EMI/EMC Testing, mould manufacturing and designing, Software solutions and EMS. The entire company’s work has 4 segments namely Portable test and measuring instruments, metering, protective and control devices, Electrical automation devices and solar string inverters. It has in all 3 manufacturing facilities with a presence in more than 70 countries and 270 dealers around the world.

Rishabh Instruments Limited IPO DETAILS

Rishabh Instruments Limited IPO is set to launch on 30 August, 2023. The subscription timeline extends till 1 September, 2023. The size for the IPO is 490.78 Crore Rs. Shares issued through fresh issue mode are worth 75 Crore Rs. Shares issued through offer for sale mode are worth Rs 415.78 Crore. The lot size is 34 shares and the price is 418 to 441 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is KFin Technologies Limited.

Tabular Description of Rishabh Instruments Limited IPO

IPO OPENING DATE	30 August, 2023
CLOSING DATE FOR IPO	1 September, 2023
ISSUE TYPE	Book Built Issue
Face Value per share	10 Rs. per share
IPO price band	418 Rs. to 441 Rs. per share
LOT SIZE	34 shares
MINIMUM ORDER QUANTITY	34 shares
ISSUE SIZE	490.78 Crore Rs.
OFFER FOR SALE	415.78 Crore Rs.
FRESH ISSUE	75 Crore Rs.
LISTING AT	NSE, BSE
LISTING DATE	11 September, 2023

Rishabh Instruments Limited IPO : IMPORTANT DATES

IPO OPENING DATE	30 August, 2023
CLOSING DATE FOR IPO	1 September, 2023
IPO ALLOTMENT DATE	6 September, 2023
REFUNDS	7 September, 2023
DEMAT A/C CREDITED ON	8 September, 2023
IPO LISTING DATE	11 September, 2023

Rishabh Instruments Limited IPO begins for subscription from 30 August, 2023. The IPO subscription would continue till 1 September, 2023. The allotment status for the shareholders who applied would come on 6 September, 2023. The refunds for the ones who did not get allotment would be initiated on 7 September, 2023. The DEMAT accounts of shareholders would be credited on 8 September, 2023. The listing of the company would be completed on 11 September, 2023.

Rishabh Instruments Limited IPO : Lead Managers

The lead managers are :

• Motilal Oswal Advisors Private Limited
• DAM Capital Advisors Limited
• Mirae Asset Capital Markets Private Limited

The minimum lot size for the company is decided at 34 shares. This holding accounts to 14994 Rs.. The maximum lot size is decided at 442 shares. This amounts to 194922 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	34 shares	14994 Rs.
Maximum	442 shares	194922 Rs.

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.
• The money will be used for repayment of borrowings and for expansion purposes.

COMPANY FINANCIALS

Particularly (in Crore Rs.)	2020-21	2021-22	2022-23
ASSETS	511	563	648
Revenue	402	479	579
PAT	35	49	50

Rishabh Instruments Limited had an asset base of 511 Crore Rs in the year 2021 which increased to 563 Crore Rs in 2022 and 648 Crore Rs in the year 2023. The revenue of the firm was 402 Crore Rs in 2021, 479 Crore Rs in 2022 and 579 Crore Rs in 2023. The profit of the firm was 35 Crore Rs in 2021, 49 Crore Rs in 2022 and 50 Crore Rs in 2023.

PROS

• The company acquired LUMEL Alucast in 2011 which is a non ferrous pressure casting entity in Europe. It was a key aid in manufacturing and supply of low voltage current transformers.
• Other products offered by the company includes EMI/EMC Testing, mould manufacturing and designing, Software solutions and EMS.
• The entire company’s work has 4 segments namely Portable test and measuring instruments, metering, protective and control devices, Electrical automation devices and solar string inverters. It has in all 3 manufacturing facilities with a presence in more than 70 countries and 270 dealers around the world.

CONS

• The company works in a highly competitive segment.

Rishabh Instruments Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2. Click the Rishabh Instruments Limited IPO button and press the BID button.
3. Entering the details asked for like UPI ID, Quantity and price.
4. Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.