Rishabh Instruments IPO: 31 times subscription on day 3

EMS IPO allotment today: latest GMP, allotment status guide

Rishabh Instruments IPO Subscription Status:

The Rishabh Instruments IPO has witnessed an overwhelming response, with a subscription rate of 31.48 times on the third day of its offering. The IPO, which opened for subscription on Wednesday, August 30, is set to close today, Friday, September 1.

Strong Demand Across Investor Categories:

The Rishabh IPO has received an enthusiastic response from various investor categories. On the final day of the subscription period, Qualified Institutional Buyers (QIBs), retail investors, and non-institutional investors (NIIs) all demonstrated strong interest, with all three segments being fully subscribed.

  • Retail Investors: 8.18 times subscribed.
  • Non-Institutional Investors (NIIs): 31.23 times subscribed.
  • Qualified Institutional Buyers (QIBs): 72.54 times subscribed.

Rishabh Instruments IPO Subscription Status Today:

As of 16:18 IST, the Rishabh Instruments IPO has received bids for 24,54,42,838 shares against the 77,90,202 shares offered, according to data from the BSE.

  • Retail Investors: Bids for 3,18,50,690 shares against 38,95,101 shares on offer.
  • Non-Institutional Investors (NIIs): Bids for 5,21,34,308 shares against 16,69,329 shares on offer.
  • Qualified Institutional Buyers (QIBs): Bids for 16,14,57,840 shares against 22,25,772 shares on offer.

Also Read: Rishabh Instruments IPO Subscription Status (Live Data)

Rishabh Instruments IPO Details:

The Rishabh Instruments IPO comprises a fresh issue totaling ₹75 crore and an offer for sale (OFS) of 9.43 million equity shares at the upper price band, amounting to ₹415.78 crore. The total issue size stands at ₹490.78 crore.

The proceeds from the IPO will be allocated to finance the expansion of the Nashik Manufacturing Facility I and to meet general corporate purposes, as stated in the company’s Red Herring Prospectus (RHP).

The IPO price band is set between ₹418 to ₹441 per equity share with a lot size of 34 equity shares and multiples of 34 shares thereafter.

Anchor Investor Allocation:

Rishabh Instruments IPO has successfully raised ₹147 crore from anchor investors. The allocation to anchor investors occurred on Tuesday, August 29, with 33,38,656 shares allotted at ₹441 per share.

Allocation Breakdown:

  • Qualified Institutional Buyers (QIBs): Up to 50%
  • Non-Institutional Investors (NIIs): Not less than 15%
  • Retail Investors: Not less than 35%

Timeline for Allotment and Listing:

The basis of allotment for Rishabh Instruments IPO shares will be finalized on Wednesday, September 6. Refunds will be initiated on Thursday, September 7, and shares will be credited to the demat accounts of allottees on Friday, September 8. The expected listing date on both BSE and NSE is Monday, September 11.

Book Running Lead Managers and Registrar:

DAM Capital Advisors Ltd, Mirae Asset Capital Markets (India) Private Ltd, and Motilal Oswal Investment Advisors Ltd are the book running lead managers (BRLMs) for the IPO, with KFin Technologies Ltd serving as the registrar.

Rishabh Instruments IPO GMP:

The grey market premium (GMP) for Rishabh Instruments IPO has witnessed a slight dip, currently standing at +42 compared to the previous trading session. This suggests that Rishabh Instruments shares are trading at a premium of ₹42 in the grey market on Friday, according to topsharebrokers.com.

Considering the upper end of the IPO price band and the current grey market premium, the estimated listing price for Rishabh Instruments shares is ₹483 per share, representing a 9.52% increase from the IPO price of ₹441.

Also Read: Rishabh Instruments IPO GMP Today ( Grey Market Premium )

Based on the recent trend in grey market activities, today’s IPO GMP points towards a positive listing, with expectations of strong demand. The GMP has ranged from ₹0 to ₹83 in the last eight sessions.

The “grey market premium” indicates the willingness of investors to pay more than the issue price for shares.

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