Rishabh Instruments share price opens with 4% NSE premium

Rishabh Instruments share price opens with 4% NSE premium

Rishabh Instruments IPO Listing Date:

Rishabh Instruments Ltd witnessed a remarkable debut on the stock market as its shares opened at a premium on Monday. On the NSE, the Rishabh Instruments share price soared to ₹460.05 per share, marking a significant 4.3% increase over the issue price. Similarly, on the BSE, Rishabh Instruments shares were listed at ₹460 per share.

Rishabh Instruments IPO Overview:

The Rishabh Instruments IPO subscription window opened on Wednesday, August 30, and successfully closed on Friday, September 1. The IPO garnered an impressive ₹147 crore from anchor investors on Tuesday, August 29.

Rishabh Instruments IPO Details:

This IPO comprises a fresh issue amounting to ₹75 crore and an offer for sale (OFS) portion consisting of 9.43 million equity shares at the upper band price, totaling ₹415.78 crore. Consequently, the overall issue size stands at ₹490.78 crore.

Utilization of IPO Proceeds:

The funds raised from the IPO will be allocated towards expanding the Nashik Manufacturing Facility I and fulfilling general corporate requirements, as outlined in the company’s Red Herring Prospectus (RHP).

Lead Managers and Registrar:

Noteworthy book running lead managers (BRLM) for the offering include DAM Capital Advisors Ltd, Mirae Asset Capital Markets (India) Private Ltd, and Motilal Oswal Investment Advisors Ltd. The offer’s registrar is KFin Technologies Ltd.

Rishabh Instruments IPO GMP Today:

As of today, the Rishabh Instruments IPO GMP is +61, indicating a significant surge compared to previous trading sessions. This suggests that Rishabh Instruments shares are trading at a premium of ₹61 in the grey market on Monday, according to data from topsharebrokers.com.

Rishabh Instruments IPO Estimated Listing Price:

Considering the upper end of the IPO price band and the current premium in the grey market, Rishabh Instruments’ estimated listing price now stands at ₹502 per share. This represents a substantial increase of 13.83% over the IPO issue price of ₹441.

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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