Rishabh Instruments IPO
Rishabh Instruments IPO — date, price band, lot size & details 2023
Rishabh Instruments listed on 11 Sep 2023 at ₹460.05, 4.3% above the ₹441 issue price.
Rishabh Instruments makes test and measuring instruments and industrial control products, and also offers aluminium high-pressure die-casting through its European unit. Its total income was Rs 579.78 crore in FY2023.
Stock price
Rishabh Instruments is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 30 Aug 2023
- Close 01 Sep 2023
- Allotment 06 Sep 2023
- Refund/credit 07 Sep 2023
- Listing 11 Sep 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 30 Aug to 1 Sep, 2023 |
|---|---|
| Price Band | ₹418 – ₹441 |
| Face Value | ₹10 |
| Lot Size | 34 Shares |
| Issue Size | ₹490.78 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,994 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 34 shares at the ₹441 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 34 | ₹14,994 |
| Retail (max) | 13 | 442 | ₹1,94,922 |
| S-HNI (min) | 14 | 476 | ₹2,09,916 |
| S-HNI (max) | 66 | 2,244 | ₹9,89,604 |
| B-HNI (min) | 67 | 2,278 | ₹10,04,598 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 402.49 crore in FY2021 to Rs 579.78 crore in FY2023.
- 02Profit after tax rose from Rs 35.94 crore in FY2021 to Rs 49.69 crore in FY2023.
- 03Borrowing was low at Rs 102.85 crore on 31 March 2023, against net worth of Rs 408.75 crore.
- 04It has a manufacturing base in Europe through Lumel Alucast, acquired in 2011.
- 05Rs 62.89 crore of the fresh issue was planned for expanding the Nashik facility.
Risks · 5
- 01Rs 415.78 crore of the Rs 490.78 crore issue was offer for sale, so most of the money went to selling shareholders.
- 02The pre-issue P/E was 32.19 at the upper band of Rs 441, based on EPS of Rs 13.70.
- 03Profit was flat, at Rs 49.65 crore in FY2022 and Rs 49.69 crore in FY2023.
- 04European operations add currency and demand risk, and the source puts return on net worth at 11.67%.
- 05Promoters and the promoter group held 80.67% before the issue and 70.68% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Rishabh Instruments offer document.
| Metric | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 648.93 | 563.89 | 511.97 |
| Total Income | 579.78 | 479.92 | 402.49 |
| Profit After Tax | 49.69 | 49.65 | 35.94 |
| NET Worth | 408.75 | 346.10 | 302.13 |
| Total Borrowing | 102.85 | 96.57 | 91.95 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Rishabh Instruments RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Rishabh Instruments IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹13.70 | ₹13.09 |
| P/E Ratio (x) | 32.19 | 33.69 |
| Market Cap at Offer Price (₹ Cr) | ₹1,599.51 | ₹1,674.05 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹441 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹70.81 Cr of the issue is earmarked to named objects.
About the company
It also offers aluminium high-pressure die-casting, machining and finishing of precision parts for customers such as automotive compressor and flow meter makers. In 2011 it acquired Lumel Alucast, a non-ferrous pressure casting company in Europe, which also gave it a base in low-voltage current transformers.
It offers services such as mould design, EMI/EMC testing, electronics manufacturing services and software solutions. Its products are grouped into electrical automation, metering control and protection, portable test and measuring instruments, and aluminium casting.
The IPO was Rs 490.78 crore, with Rs 75.00 crore of fresh issue and Rs 415.78 crore of offer for sale by investor SACEF Holdings II and promoter group members. Rs 62.89 crore was planned for expanding its Nashik facility.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Rishabh Instruments IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Motilal Oswal Investment Advisors
58 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Dam Capital Advisors Ltd
44 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Rishabh Instruments?
The current Grey Market Premium is ₹65, or 15% over the issue price.
What is the Rishabh Instruments IPO price band?
₹418 to ₹441, on a face value of ₹10.
When is the allotment?
The basis of allotment is 6 September 2023, with listing on 11 September 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
