Rishabh Instruments IPO will open for subscription from 30 August 2023. The company aims for an issue size of ₹490.78 Cr through this IPO.
Company Overview
| Full name | Rishabh Instruments Limited |
| Sector | Capital Goods |
| Industry | Electric Equipments |
| Company Website | https://rishabh.co.in/ |
About Company
Incorporated in 1982, Rishabh Instruments is a global energy efficiency solution company focused on electrical automation, metering, measurement, precision engineered products, et al. with diverse applications across industries including power, automotive, and industrial sectors. The company supplies a wide range of electrical measurement and process optimization equipment and is engaged in designing, developing manufacturing, and sale of devices significantly under its own brand across several sectors.
Rishabh Instruments provides comprehensive solutions to customers looking for cost-effective ways to measure, control, record, analyze, and optimize energy and processes through its array of products. It also provides complete aluminum high-pressure die-casting solutions for customers requiring close tolerance fabrication (such as automotive compressor manufacturers and automation high precision flow meters manufacturers), machining, and finishing of precision components.
The company 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
- Solar String Inverters
Rishabh Instruments’ product portfolio consists of over 145 product lines and 0.13 million stock-keeping units as of 31 October 2022. In the six months ended 30 September 2022 and FY 2022, 2021, and 2020, it manufactured an aggregate of 6.65 million units, 14.02 million units, 13.35 million, and 15.71 million units of products, respectively, across the product lines. The company has served customers in over 100 countries. Rishabh Instruments R&D centers in India, Poland, and China are staffed with a team of 93 engineers as of 31 October 2022.
The Objective of the Issue
- Financing the cost towards the expansion of Nashik Manufacturing Facility I,
- General corporate purposes.
IPO Timetable
| IPO Opening date | 30 August 2023 |
| IPO Closing | 01 September 2023 |
| Basis of Allotment | 06 September 2023 |
| Initiation Refund | 07 September 2023 |
| Credit to Demat Account | 08 September 2023 |
| Listing Date | 11 September 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹490.78 Cr – 11,128,858 shares |
| Fresh Issue | ₹75.00 Cr – 1,700,680 shares |
| Offer for sale | ₹415.78 Cr – 9,428,178 shares |
| Face value | ₹10 per share |
| Price Band | ₹418 to ₹441 per share |
| Lot size | 34 Shares |
| Retail Allocation | 35% |
| Listing Exchange | BSE & NSE |
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 |
Reservation Details
| 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%) |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 389.96 | 470.25 | 569.54 |
| Expenses | 356.73 | 420.70 | 519.08 |
| Net income | 35.94 | 49.65 | 49.69 |
| Margin (%) | 9.22 | 10.56 | 8.73 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 9.32 | 12.89 | 12.76 |
| PE ratio | – | – | 32.76 – 34.56 |
| RONW (%) | 11.61 | 13.82 | 11.67 |
| NAV | 80.33 | 93.38 | 109.98 |
| ROCE (%) | 12.16 | 15.20 | 13.77 |
| EBITDA (%) | 17.96 | 17.57 | 15.16 |
| Debt/Equity | 0.35 | 0.28 | 0.26 |
Company Promoters
- Mr. Narendra Joharimal Goliya
Promoter Holding
| Pre Issue Share Holding | 80.67% |
| Post Issue Share Holding | 70.68% |
Lead Manager(s)
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- Motilal Oswal Investment Advisors Pvt Ltd
- Mirae Asset Capital Markets (India) Private Limited
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: rishabh.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
RISHABH INSTRUMENTS LIMITED
F-31, MIDC, Satpur, Nashik 422 007, Maharashtra, India
Phone: +91 253 220 2183
E-mail: cs@rishabh.co.in
Website: www.rishabh.co.in
Allotment Status
Rishabh Instruments IPO allotment will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Rishabh Instruments IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
