Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Rishabh Instruments Ltd IPO subscribed 73% on Day 1

Posted On: 2023-08-30 20:46:30 (Time Zone: IST)


The Initial Public Offering of Rishabh Instruments Limited, a global energy efficiency solution company, focused on electrical automation, metering and measurement, precision engineered products and aluminium high pressure die castings with diverse applications across industries including power, automotive and industrial sectors, was subscribed 73% on the first day of bidding.

The issue received bids of 56,75,008 shares against the offered 77,90,202 equity shares, at a price band of ?418-441, according to the data available on the stock exchanges.

Non-Institutional Investors was fully subscribed, Retail Portion was subscribed with 92%, whereas the demand from Qualified Institutional Buyer Portion was subscribed 1%. The issue kicked off for subscription on Wednesday, August 30, 2023 and will close on Friday, September 1, 2023.

A day prior to the opening of the issue, Rishabh Instruments Ltd had raised Rs 147 crore from anchor investors. Foreign Investors and Domestic Institutions who participated in the anchor were HDFC Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, Bandhan Mutual Fund, Quant Mutual Fund, Tata Mutual Fund, Ashoka India Equity Investment Trust PLC, Aditya Birla Sun Life Insurance Company and 3P India Equity Fund 1.

Broking houses like SBI Securities, Arihant Capital, Anand Rathi, Marwadi Financial Services and Sushil Finance have given a "SUBSCRIBE" rating to the issue, citing its domestic and global leadership in select products, technology driven vertically integrated facilities, export-oriented business operations and its diverse clientele and product portfolio. The broking houses are also positive about the huge addressable market of the company's various products and is expected to benefit from mega industrialization trends.

However, the broking houses noted that the valuation is higher but given the growth prospects, they believe it's a great opportunity to invest in a well-established company with a history of growth and innovation.

DAM Capital Advisors Limited, Mirae Asset Capital Markets (India) Private Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers to the offer and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE Limited and National Stock Exchange (NSE).


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Dr. Agarwal's Health Care files DRHP for IPO

Icon Facilitators Limited files DRHP with BSE SME

Casagrand Premier Builder Limited files DRHP for Rs 1,100 crore IPO

Manba Finance Limited raises Rs. 45.25 crore from Anchor Investors

NTPC Green Energy Ltd files DRHP for IPO

Influx Healthtech Limited Files DRHP with NSE Emerge

Gala Precision Engineering IPO subscribed 201.41 times on Final Day, the most since the start of FY25

Identical Brains Studios Limited files DRHP with NSE Emerge

Gala Precision Engineering Ltd's IPO to open on Monday, September 02, 2024, price band set at ?503/- to ?529/- per Equity Share

Sanstar Limited IPO subscribed 82.98 times on Final Day

Sanstar Ltd's IPO to open on Friday, July 19, 2024, price band set at ?90/- to ?95/- per Equity Share

Three M Paper Boards Ltd's SME IPO to open on Friday, July 12, 2024

Virtual Galaxy Infotech attracts marquee investors, raises Rs 21.44 Crore ahead of IPO Launch

IT Solutions provider Orient Technologies gets Sebi nod for IPO

Accel and Flipkart-backed Zinka Logistics Solutions Limited files DRHP for IPO

Sleepwear-focused company S D Retail Limited files DRHP for SME IPO

ACME Solar Holdings Limited files DRHP for Rs 3,000 crore IPO

Nephro Care India Makes History - First SME IPO to Surpass Rs. 20,000 Crore in bids

Gala Precision Engineering gets Sebi nod for IPO

Noida-based Interarch Building Products Limited gets SEBI nod for IPO

Shivalik Engineering Industries Limited files DRHP for IPO

Niva Bupa files for Rs 3,000Cr IPO

Sagility India Limited files DRHP for IPO

Ambey Laboratories Ltd IPO to open for subscription on July 4, 2024

Nephro Care India Limited IPO opened today, Anchor Book fully subscribed

Allied Blenders & Distillers IPO subscribed 23.49 times on Final Day

Allied Blenders & Distillers IPO fully subscribed on Day 2

Allied Blenders & Distillers IPO subscribed 51% on Day 1

Stanley Lifestyles IPO subscribed 95.75 times on Final Day

Deepak Parekh-backed Nephro Care India Limited's IPO opens on Friday, June 28

Allied Blenders & Distillers Limited raises Rs. 449.1 crore from Anchor Investors

Stanley Lifestyles IPO subscribed 5.22 times on Day 2

Mason Infratech Limited IPO Opens on June 24, 2024

Stanley Lifestyles IPO fully subscribed on Day 1 led by strong retail, NII demand

Stanley Lifestyles Limited raises Rs. 161.10 crore from Anchor Investors

Allied Blenders & Distillers Ltd's IPO to open on Tuesday, June 25, 2024

GEM Enviro Management Limited IPO Opens on June 19, 2024

Stanley Lifestyles Limited's IPO to open on Friday, June 21, 2024

Bajaj Housing Finance Ltd files DRHP for IPO

Bajaj Housing Finance Limited to raise funds through IPO

Kronox Lab Sciences IPO subscribed 117.25 times on Final Day

Kronox Lab Sciences IPO fully subscribed in less than half an hour of opening

Kronox Lab Sciences Limited raises Rs. 39.04 crore from Anchor Investors

Sattrix Information Security Limited SME IPO to open on June 5, price band set at ?121 per share

Kronox Lab Sciences Ltd's Initial Public Offering to open on Friday June 3, 2024

Aimtron Electronics Limited's SME IPO to open on Thursday, May 30, 2024

Garuda Construction and Engineering refiles DRHP for IPO

Nephro Care India Limited plans to raise Rs. 35-40 crore from its upcoming IPO

Vilas Transcore Ltd's SME IPO to open on Monday, May 27, 2024, price band set at ?139/- to ?147/- per Equity Share

Rulka Electricals Ltd, HOAC Foods India Ltd NSE-SME IPOs garner huge oversubscription


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020