Rishabh Instruments IPO GMP, Subscription Status, Review and More
The Rishabh Instruments IPO, launched on August 30th, 2023, has captured the attention of investors, and it’s set to close on September 1st, 2023. With just one day left to participate in this exciting public offering, let’s take a closer look at its progress and what experts are saying.
Rishabh Instruments IPO Subscription Status:
Investors have shown remarkable enthusiasm for the Rishabh Instruments IPO. As of 12:54 PM on the third day of bidding, the book build issue has already been oversubscribed by an impressive 6.77 times. The retail portion of the IPO has also garnered substantial interest, with a subscription rate of 5.25 times.
Rishabh Instruments IPO GMP:
Leading up to the closing of the Rishabh Instruments IPO subscription, the grey market has been buzzing with optimism. Currently, shares of Rishabh Instruments Limited are trading at a premium of ₹85 per equity share in the grey market. This marks a ₹2 increase from the previous day’s grey market premium of ₹83. Market observers are confident in the potential success of Rishabh Instruments in the primary market and anticipate a surge in subscription requests on the final day.
Rishabh Instruments IPO Review:
Anand Rathi, a respected name in the financial industry, has given the Rishabh Instruments IPO a favorable review, recommending it as a long-term investment. They highlight the company’s global presence in engineering solutions, its exposure to lucrative markets, and its alignment with industrialization trends. At the upper price band, the company’s valuation stands at a P/E ratio of 34.3x FY23 earnings, with a market capitalization of ₹16,740 million post-equity share issuance and an impressive return on net worth of 11.67%. Anand Rathi’s expert opinion deems the issue reasonably priced and suggests a “Subscribe – Long Term” rating for the IPO.
Rishabh Instruments IPO Dates:
For those eagerly awaiting the Rishabh Instruments IPO, here are some key dates to keep in mind. The IPO allotment date is expected to be on September 6th, 2023, and the public issue is set to be listed on both the NSE and BSE. The highly anticipated listing date is most likely scheduled for September 11th, 2023.
About Rishabh Instruments:
Founded in 1982, Rishabh Instruments Limited specializes in the development of Test and Measuring Instruments and Industrial Control Products. The company provides affordable solutions for measuring, controlling, recording, analyzing, and optimizing energy and processes, offering a diverse array of products to cater to these needs.
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