Rishabh Instrument's IPO measures 31.65 times demand on final day
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 31.65 times on
the final day of bidding.
The
issue received
bids of 24,65,26,010shares against the offered 77,90,202 equity shares, at a
price band of ₹418-441, according to the data available on the stock exchanges.
Qualified Institutional
Buyer Portionwas subscribed 72.54 times, Non-Institutional Investors Portion was
subscribed 31.29 times, whereas Retail Portion was subscribed 8.43 times.
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).
Company Information
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 aluminum components to the
automation and automotive industry mainly in Europe.
According to the F&S report mentioned in the Red Herring
Prospectus (“RHP”), the Company is a global leader in the
manufacture and supply of analog panel meters and is also one of the leading
global manufacturers and suppliers of low voltage current transformers. For
meters, controllers, and recorders, Lumel is the most popular brand in Poland,
and Lumel Alucast is one of the leading non-ferrous pressure casting players in
Europe.
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 grew to Rs 49.69 crore in Fiscal 2023, as compared to Rs 49.65 crore in
Fiscal 2022.
The table below shows subscription data for all the categories of investors:
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RISHABH INSTRUMENTS LIMITED Last updated on |
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|
Sr.No. |
Category |
No.of shares offered / reserved |
No. of shares bid for |
No. of times of total meant for the category |
|
1 |
Qualified Institutional Buyers (QIBs) |
22,25,772 |
16,14,57,840 |
72.54 |
|
1(a) |
Foreign Institutional Investors (FIIs) |
- |
3,60,00,016 |
- |
|
1(b) |
Domestic Financial Institutions(Banks/ Financial
Institutions(FIs)/ Insurance Companies) |
- |
7,62,63,156 |
- |
|
1(c) |
Mutual Funds |
- |
1,30,74,972 |
- |
|
1(D) |
Others |
- |
3,61,19,696 |
- |
|
2 |
Non Institutional Investors(NIIS) |
16,69,329 |
5,22,28,012 |
31.29 |
|
2.1 |
Non Institutional Investors(Bid amount of more
than Ten Lakh Rupees) |
11,12,886 |
3,78,45,604 |
34.01 |
|
2.1(a) |
Corporates |
- |
6,55,758 |
- |
|
2.1(b) |
Individuals (Other than RIIs) |
- |
3,21,14,360 |
- |
|
2.1(c) |
Others |
- |
50,75,486 |
- |
|
2.2 |
Non Institutional Investors(Bid amount of more
than Two Lakh Rupees and upto 10 lakh rupees) |
5,56,443 |
1,43,82,408 |
25.85 |
|
2.2(a) |
Corporates |
- |
48,586 |
- |
|
2.2(b) |
Individuals (Other than RIIs) |
- |
1,23,28,672 |
- |
|
2.2(c) |
Others |
- |
20,05,150 |
- |
|
3 |
Retail Individual Investors (RIIs) |
38,95,101 |
3,28,40,158 |
8.43 |
|
3(a) |
Cut Off |
- |
2,77,49,508 |
- |
|
3(b) |
Price Bids |
- |
50,90,650 |
- |
|
4 |
Employee Reserved |
- |
- |
- |
|
4(a) |
Employee (Cut off) |
- |
- |
- |
|
4(b) |
Employee (Price) |
- |
- |
- |
|
5 |
Reservation PortionShareholder |
- |
- |
- |
|
5(a) |
RPS (Cut off) |
- |
- |
- |
|
5(b) |
RPS (Price) |
- |
- |
- |
|
Total |
77,90,202 |
24,65,26,010 |
31.65 |
|
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