Rishabh Instruments
Book Building issueMainboard₹491 Cr issue
+4.31%
Listing gain over issue price
Issue size
₹491 Cr
1 lot at cut-off
₹14,994
Lot size
34shares
Open
30 Aug 2023
Close
01 Sep 2023
Allotment
06 Sep 2023
Listing
11 Sep 2023
Listing performance
Issue price
₹441
Listed at
₹460
Listing-day close
₹443.15
Latest price
₹641.45
Close on 23 Oct 2026
Listing gain
+4.31%
Return since issue
+45.45%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Aug 2023 – 01 Sep 2023
- Listing date
- 11 Sep 2023
- Face value
- ₹10 per share
- Issue price
- ₹441 per share
- Lot size
- 34 shares
- Issue type
- Book Building issue
- Total issue size
- ₹491 Cr
- Market cap at offer price
- ₹1,674 Cr
- Promoter holding
- 80.67% → 70.68% pre-issue → post-issue
- ISIN
- INE0N2P01017
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Dam Capital Advisors Ltd.
- Registered office
- A-54, MIDC, Opposite, MIDC Bus Depot, Andheri (East), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 33,38,656 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 34 shares per lot, in multiples, at ₹441
| 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 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
33,38,656
Anchor portion
₹147 Cr
at ₹441 per share
Valuation and performance
Valuation at offer price
₹441 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 12.84 | — |
| P/E (×) | 34.35 | — |
| Market cap | — | ₹1,674 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 11.67%
- ROCE
- 13.77%
- Debt / equity
- 0.26
- PAT margin
- 8.57%
- NAV per share
- ₹109.98
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Rishabh Instruments
Rishabh Instruments Limited 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; and solar string inverters. The company also manufactures and supplies aluminium high pressure die casting through its Subsidiary, Lumel Alucast, and provides manufacturing services including mould design and manufacturing, EMI/EMC testing services, Electronic Manufacturing Services, and software solutions (e.g., MARC). The company was incorporated as a private limited company on October 6, 1982, and converted to a public limited company on September 22, 2022. The company operates through five manufacturing facilities across India, Poland and China.
Company Analysis
from RHPRishabh Instruments Limited is a global energy efficiency solution company focused on electrical automation, metering and measurement, precision engineered products with applications across power, automotive and industrial sectors, including aluminium high-pressure die casting through its subsidiary.
Rishabh Instruments Limited 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; and solar string inverters. The company also manufactures and supplies aluminium high pressure die casting through its Subsidiary, Lumel Alucast, and provides manufacturing services including mould design and manufacturing, EMI/EMC testing services, Electronic Manufacturing Services, and software solutions (e.g., MARC). The company was incorporated as a private limited company on October 6, 1982, and converted to a public limited company on September 22, 2022. The company operates through five manufacturing facilities across India, Poland and China.
Electrical automationMetering, control and protection devicesPortable test and measurement instrumentsSolar string invertersAluminium high-pressure die castingPower sectorAutomotive sectorIndustrial sector
Objects of the Issue
- Financing the cost towards the Expansion of Nashik Manufacturing Facility I ₹628.86 million p.25
- General corporate purposes p.25
- Expansion of Nashik Manufacturing Facility I p.63
- General corporate purposes p.63
- Expansion of Nashik Manufacturing Facility I p.415
Issue Structure
- Total Issue
- Up to ₹[●] million
- Fresh Issue
- Up to ₹750.00 million
- Offer for Sale
- Up to ₹[●] million (9,428,178 Equity Shares)
- Price Band
- [●] per Equity Share
- Lot Size
- [●] Equity Shares
- Face Value
- ₹10 each
Business Model
The company primarily follows a business-to-business model which is purchase order based for all segments except portable test and measuring instruments which is also sold on a merchant basis. Revenue is generated through manufacturing and selling electrical automation devices, metering control and protection devices, portable test and measuring instruments, solar string inverters, and aluminium high pressure die casting products, as well as providing manufacturing services including mould design and manufacturing, EMI/EMC testing services, Electronic Manufacturing Services, and software solutions.
Business Segments
Design, development, manufacturing and supplying of electrical automation devices
Manufacturing and supplying metering, control and protection devices
Manufacturing and supplying portable test and measuring instruments, sold on both purchase order and merchant basis
Manufacturing and supplying solar string inverters
Manufacturing and supplying aluminium high pressure die casting through Subsidiary Lumel Alucast
Revenue generated from operations within India
Revenue generated from operations outside India
Provides devices for collection of signals from multiple devices like transmitters, temperature controllers, electrical transducers, and integration/automation of electrical systems. Products include sensors, transmitters, field instruments, human-machine interfaces, temperature controllers, chart recorders, electrical transducers, and I/O converters used by system integrators to build automation panels for processing industries (cement, chemicals), FMCG, power utilities, and other sectors.
Manufactures devices such as analog/digital panel meters, multi-function meters, current transformers, APFC relays, protection relays, selector & rotary switches, power factor controllers, power supplies & battery chargers, and LV protection relays used in centralized systems (PCC, MCC, APFC) to measure, control, record, analyze, and protect electrical systems. Products are used in power utilities, railways, OEMs, processing industries, manufacturing, pharmaceuticals, and DG set manufacturers.
Manufactures portable instruments used to measure electrical parameters of industrial, utility, and consumer products onsite. Products include digital multimeters, clamp meters, insulation testers, earth testers, portable power quality analyzers, and other hand-held and portable instruments. Used for maintenance and repairs by power utilities, railways, OEMs, defense, processing industries, service industries, electrical contractors, and consumers.
Manufactures on-grid solar string inverters that convert DC current from solar panels to AC current. Used for residential, commercial, and industrial solar PV installations. Inverters in string formation with each row of solar panels equipped with an inverter box connecting to the main grid. Rishabh is the first company in India to design, develop, and manufacture solar string inverters end-to-end.
Creates aluminium alloy-based products by forcing molten metal into die-cast mold cavities under high pressure. Manufactures automotive components and parts for automation/industrial applications. Main applications include engine blocks, transmission cases, EV motor and battery housings, and industrial automation enclosures.
Manufacturing of products which streamline industrial systems, monitors, converts and control various applications for power up and down on command, process monitoring and controlling. Products include energy management software, transducers and isolators, paperless recorders, dataloggers, temperature and humidity recorders, I/O converters and temperature controllers.
Used for measuring, controlling, recording, analysing and protecting the electrical power system. Products include analog panel meters, rotary cam switches, current transformers, shunts, digital panel meters, multifunction meters, multi-load monitoring meters, power quality meters, power quality analyzers, power factor controllers, LV and MV relays, genset controllers, synchronizing units, power supply and battery chargers.
Products used by customers to inspect, test, calibrate, and measure parameters of a system, facility, instrumentation or process. Includes digital multimeters, digital clamp meters, digital insulation testers, digital earth testers and environmental products such as ultrasonic level/thickness meter, digital luxmeter, non-contact tachometers, DB meter, submarine cable fault locator.
Manufacture and supply of solar string inverters used with solar arrays to convert direct current to alternating current for photovoltaic installations connected to the grid. Includes power classes from 10 kW to 50 kW with integrated data storage, USB connectivity and widescreen LED display.
Provision of complete aluminium 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.
Production and supply of electrical automation devices and control equipment
Manufacturing of metering, control and protection devices
Design and manufacture of portable test and measuring instruments
Manufacturing of solar string inverters
Aluminium high pressure die-casting which includes casting of light metals, manufacturing of tools, installation of industrial machinery and equipment
Electronics manufacturing services offerings
Design, development and manufacturing of test and measuring instruments
Design, development and manufacturing of industrial control products
Includes energy management software, transducers and isolators, paperless recorders (chartless) and dataloggers, temperature and humidity recorders, I/O converters and temperature controllers
Consist of analog panel meters, rotary cam switches, current transformers, shunts, digital panel meters, multifunction meters, multi-load monitoring meters, power quality meters, power quality analyzers, power factor controllers, LV and MV relays, genset controllers, synchronizing units, power supply and battery chargers
Manufactures various categories of digital multimeters, digital clamp meters, digital insulation testers, digital earth testers and environmental products such as ultrasonic level/thickness meter, digital luxmeter, non-contact tachometers, DB meter, submarine cable fault locator
Manufactures solar string inverters in India designed for use in photovoltaic installations connected to the grid
Serves global automation, automotive and other industries with in-house designed tools (which include die casting moulds and CNC fixtures) and various post casting processes such as high precision machining, surface treatment and heat treatment
SWOT Analysis
Strengths
- • Global energy efficiency solution company with vertically integrated operations across electrical automation, metering, measurement, and precision engineered products(p.24)
- • Multi-geography manufacturing footprint across India, Poland, and China with significant production scale(p.35)
- • Strong revenue growth trajectory with expanding market presence(p.25)
- • Consistent profitability with stable earnings per share(p.25)
- • Diversified product portfolio across multiple industry applications and customer segments(p.24)
- • Global engineering solution provider with advanced R&D capabilities(p.247)
- • Vertically integrated operations with strong manufacturing capabilities(p.247)
- • Diversified product portfolio across five business segments(p.247)
- • Wide customer base across geographies(p.247)
- • Track record of successful M&A integration(p.247)
- • Strong revenue growth trajectory(p.93)
- • Leader in electrical transducers in India(p.187)
- • Strong position in digital panel meters in India(p.195)
- • Number 2 player in multimeters and clamp meters in India(p.206)
- • First company globally to innovate in insulation testers(p.206)
- • First company in India to design and manufacture solar string inverters end-to-end(p.214)
- • In-house design, development, and manufacturing capabilities(p.206)
- • Advanced product features in metering devices(p.190)
- • Extended offerings beyond low-end products(p.200)
- • Leading global position in analog panel meters and low voltage current transformers(p.247)
- • Vertically integrated manufacturing with end-to-end product development capabilities across five global facilities(p.240)
- • Strong R&D capabilities with 95 engineers and multiple patents(p.242)
- • Diversified global customer base of 3,000 across over 100 countries reducing concentration risk(p.242)
- • Extensive global distribution network with 339 authorized distributors across 70 countries(p.242)
- • Well-established and recognized brands with 37+ years trademark registration for Rishabh(p.255)
- • Proven track record of successful integration of acquired businesses across geographies(p.254)
- • NABL-accredited EMI-EMC testing laboratory providing competitive advantage(p.241)
- • Advanced automated manufacturing and testing infrastructure with closed-loop testing capabilities(p.284)
- • Extensive domestic distribution network across 81 districts with 175 authorized distributors and 53 sales engineers(p.284)
- • Strong global presence serving over 100 countries with 339 authorized distributors worldwide(p.284)
- • Significant overseas revenue contribution of 65.74% of total revenue in Fiscal 2023(p.284)
- • Diversified revenue streams across multiple business segments including metering, portable test instruments, solar inverters, and aluminum die-casting(p.286)
- • Intellectual property portfolio with 2 patents and 19 trademarks registered across multiple jurisdictions(p.285)
- • Manufacturing facilities in multiple countries including India, Poland, USA, and China providing geographic diversification(p.285)
- • Global manufacturing presence with established subsidiary operations(p.376)
- • Diversified revenue streams across geographic regions(p.380)
- • Strong profitability with consistent EBITDA margins(p.399)
- • Established brand with revenue growth trajectory(p.364)
- • Global leader in analog panel meters manufacturing with established brand presence(p.410)
- • Strong R&D capabilities with accredited centers and patent portfolio(p.411)
- • Vertically integrated manufacturing with five facilities across three continents(p.410)
- • Diverse product portfolio with high volume production capacity(p.410)
- • Established 40-year presence with strong international expansion through acquisitions(p.411)
- • Lumel recognized as most popular brand in Poland for meters, controllers and recorders(p.410)
Weaknesses
- • Significant dependence on Poland Manufacturing Facilities which accounts for majority of production and is subject to regional risks(p.35)
- • High customer concentration with top 10 customers representing nearly 32% of revenue(p.39)
- • Significant dependence on Subsidiaries which contribute 67% of revenue but expose company to operational and financial risks(p.41)
- • Significant related party transactions representing 13.34% of revenue creating potential conflict of interest(p.48)
- • Promoter group members have not provided required confirmations and undertakings for IPO disclosure(p.22)
- • Dependence on few suppliers for critical components, particularly semiconductors(p.53)
- • High inventory carrying costs and obsolescence risk from demand volatility(p.53)
- • Significant capital requirements and reliance on external financing(p.76)
- • Missing historical corporate records and regulatory filing discrepancies(p.56)
- • Limited patent and intellectual property protection(p.60)
- • Dependence on promoter and management team with limited succession planning(p.55)
- • Concentration of revenue from top 10 customers(p.66)
- • Unable to trace certain historical records and discrepancies in regulatory filings(p.51)
- • High concentration of revenue in Europe (59.06% in FY2023)(p.155)
- • Substantial capital requirement for expansion not yet fully appraised(p.148)
- • Expansion plans subject to implementation delays and cost overruns(p.148)
- • Minimal market share in electrical automation segment(p.187)
- • Negligible market share in solar string inverters(p.214)
- • Small presence in portable test and measurement market(p.206)
- • Dependence on a limited customer base in aluminum die casting segment with top 5 domestic customers accounting for 14.83% and top 5 overseas customers accounting for 49.61% of segment revenue(p.253)
- • High capital expenditure requirements for equipment limits market entry and capacity expansion(p.238)
- • Market fragmentation with low margins affecting profitability(p.238)
- • Declining EBITDA margin from 17.57% in FY2022 to 15.16% in FY2023(p.249)
- • Significant reliance on overseas markets with 65.74% of revenue from international operations, creating geographic concentration risk(p.284)
- • Limited insurance coverage with no marine cargo insurance for exports, imports and domestic sales(p.285)
- • High dependency on technical and skilled workforce concentrated in manufacturing locations(p.286)
- • Potential conflicts of interest with certain group companies engaged in similar business lines(p.322)
- • Significant portion of revenue concentrated in Europe region(p.380)
- • Substantial leverage with significant debt obligations(p.401)
- • Foreign exchange exposure across multiple currencies(p.382)
- • Reliance on related party financing(p.360)
- • Dependence on single manufacturers for critical components causing supply vulnerability(p.413)
- • High exposure to Poland manufacturing facility with geopolitical supply risks(p.413)
- • Material dependence on imports of semiconductors with past shortage experiences(p.413)
- • Limited pricing power with customers bearing component price increase risk between re-pricings(p.413)
- • Significant restrictive covenants limiting operational flexibility in debt arrangements(p.403)
Opportunities
- • Significant market growth in electrical automation and related segments projected through 2027(p.24)
- • Strong growth outlook for solar string inverters market at 9.1% CAGR through 2027(p.24)
- • Expansion of production capabilities at Nashik facility to increase manufacturing scale(p.38)
- • Strategy to expand geographical footprint into new international markets(p.40)
- • Opportunity to expand customer base through ANSI current transformers development for US market(p.40)
- • Expansion of Nashik Manufacturing Facility and capital expenditure plans(p.63)
- • Product innovation and development of new high-value products(p.59)
- • Inorganic growth through strategic acquisitions and alliances(p.72)
- • Expansion into new industries and application segments(p.59)
- • Expansion of manufacturing capacity for electrical automation and solar inverters(p.129)
- • Potential government incentives for manufacturing under M-SIPS and Maharashtra policies(p.148)
- • Automation of assembly and test operations to achieve cost efficiency(p.129)
- • Benefits of public listing and access to capital markets(p.128)
- • Growing Indian electrical automation market with 9% CAGR(p.185)
- • Rising adoption of Industrial Internet of Things solutions(p.188)
- • Make in India campaign driving manufacturing investments(p.188)
- • Strong growth in metering, control and protection devices in India(p.193)
- • Emerging demand for portable test and measurement in India(p.203)
- • Rapid growth in Indian solar string inverters market(p.212)
- • India's aggressive renewable energy targets driving solar inverter demand(p.216)
- • Growing global electrical automation market expected to reach USD 215.1 billion by 2027 at 7.8% CAGR(p.250)
- • Rising demand for portable test and measurement equipment driven by IoT and Industry 4.0 initiatives(p.265)
- • Solar string inverter market expected to grow at 9.1% CAGR to USD 6.6 billion by 2027(p.267)
- • Aluminum die casting market anticipated to grow at 6.1% CAGR from 2022 to 2027 to reach USD 112.9 billion(p.268)
- • Government of India's Make in India initiative and PLI scheme attracted USD 9480.3 million in automotive investments(p.225)
- • EV market growth with aluminum content per vehicle increasing 15% more than IC engines(p.245)
- • India forecasted to grow fastest in electrical automation market driven by industrial end users(p.250)
- • Infrastructure investments in water, wastewater treatment, power distribution and renewable energy driving demand(p.229)
- • Planned expansion of distribution network in Tier II Indian cities with branch offices and technical service centers(p.284)
- • Geographic expansion in emerging markets including Brazil, South Africa, Peru, and China(p.284)
- • Establishment of product customization and centers of excellence across global offices(p.285)
- • Leverage digital and content marketing to enhance brand recognition(p.285)
- • Government incentive programs including M-SIPS and Maharashtra Electronics Policy providing capital expenditure support(p.292)
- • Expand manufacturing capacity and automate production(p.388)
- • Grow in emerging markets with existing subsidiary infrastructure(p.360)
- • Leverage employee stock option scheme to attract talent(p.372)
- • Expansion of Nashik Manufacturing Facility I to increase production capacity and economies of scale(p.415)
- • Geographic expansion to new markets with high entry barriers(p.415)
- • Expansion of domestic distribution through Tier II cities and branch network(p.415)
- • Cross-selling opportunities leveraging multi-location manufacturing synergies(p.415)
- • Continued inorganic growth through strategic acquisitions in new geographies(p.415)
Threats
- • Manufacturing operations subject to significant operating risks including equipment breakdown, severe weather, and natural disasters(p.35)
- • Poland operations vulnerable to geopolitical risks including potential natural gas supply disruption due to Russia-Ukraine conflict(p.37)
- • Critical dependence on semiconductor supply which has faced significant shortages(p.42)
- • Customer order volatility with no long-term contracts leading to unpredictable revenue(p.39)
- • Risk of product quality issues resulting in customer loss and reputational damage(p.40)
- • Supply chain disruptions from semiconductor and component shortages(p.53)
- • Impact of COVID-19 pandemic on operations and supply chains(p.54)
- • Foreign exchange fluctuation risks from multi-currency operations(p.55)
- • Intense competition from domestic and multinational competitors(p.71)
- • Trade barriers and tariffs in international markets(p.61)
- • Regulatory changes and compliance requirements across jurisdictions(p.69)
- • Russia-Ukraine conflict impacts on energy costs and supply(p.60)
- • Macroeconomic slowdown and inflation in India(p.79)
- • Dependence on European market for majority of revenue(p.155)
- • Variation in utilization of Net Proceeds subject to regulatory and business conditions(p.59)
- • Regulatory approvals required for Expansion project not yet obtained(p.148)
- • Forex exposure and currency fluctuation risks(p.148)
- • Intense competition from established global players with strong market share(p.187)
- • Dominance of Chinese manufacturers in solar inverters market(p.213)
- • Price competition and pricing pressure in Indian markets(p.199)
- • Volatile raw material prices affecting manufacturing costs(p.198)
- • Cheaper imports from China in test and measurement market(p.208)
- • Semiconductor supply constraints impacting production(p.208)
- • Market preference for lower-priced substandard devices(p.190)
- • Global economic slowdown affecting industrial investments(p.199)
- • Global competition from established Chinese players dominating solar inverter and die casting markets(p.238)
- • Risk of loss to global players if manufacturing of electrical automation components not strengthened in India(p.237)
- • Acquisition of Indian players by global players to capture market share(p.237)
- • Global geopolitical disruption impacting semiconductor supply to automotive industry reducing die casting orders(p.239)
- • Growing focus on local supply chain securing by governments globally may impact export market(p.239)
- • COVID-19 related supply chain disruptions particularly affecting China manufacturing and semiconductor shortages(p.257)
- • Market consolidation limiting growth with top 3-4 players restricting new entrants(p.238)
- • Intense competition from established domestic and international players in multiple product segments(p.286)
- • Foreign exchange risk affecting overseas operations which comprise 65.74% of revenue(p.284)
- • Complex regulatory compliance requirements across multiple jurisdictions including environmental, labor, and trade regulations(p.287)
- • Dependence on supply chain and raw material price volatility affecting manufacturing costs(p.285)
- • Exposure to foreign exchange volatility(p.381)
- • Reliance on interest rate adjustments for floating rate debt(p.381)
- • Customer concentration risk in receivables(p.352)
- • Pending legal dispute with material contingent liability(p.388)
- • Exposure to regulatory changes affecting employee benefits(p.396)
- • Ongoing COVID-19 pandemic impact creating supply chain disruptions and production uncertainty(p.413)
- • Raw material price volatility and supply disruption risks beyond company control(p.414)
- • Rapid technological changes and regulatory standard evolution requiring continuous R&D investment(p.415)
- • Dependency on essential utilities with supply constraints creating operational risks(p.413)
- • Integration challenges and execution risks from pursuing inorganic growth strategy(p.415)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Narendra Joharimal Goliya | Promoter | 44.85% | — |
| Narendra Joharimal Goliya | Promoter | — | — |
| Narendra Joharimal Goliya | Promoter | — | — |
| Narendra Joharimal Goliya | Promoter | 44.85% | — |
| Mr. Narendra Goliya | Promoter | 55.60% | — |
| Mrs. Asha Narendra Goliya | Promoter | 15.38% | — |
| Rishabh Family Trust | Promoter Group | 12.31% | — |
| Anushree Family Trust | Promoter Group | 12.31% | — |
| Narendra Joharimal Goliya | Promoter | — | — |
| Asha Narendra Goliya | Promoter Group | 15.38% | — |
| Rishabh Narendra Goliya | Promoter Group | 12.31% | — |
| Narendra Rishabh Goliya (HUF) | Promoter Group | 1.77% | — |
| SACEF | Promoter Group | 19.33% | — |
| Narendra Joharimal Goliya | Promoter | — | — |
| Asha Narendra Goliya | Selling Shareholder | — | — |
| Rishabh Narendra Goliya | Selling Shareholder | — | — |
| Narendra Rishabh Goliya (HUF) | Selling Shareholder | — | — |
| SACEF HOLDINGS II | Selling Shareholder | — | — |
Leadership
Narendra Joharimal Goliya · Chairman and Managing Director
Vishal Prabhakar Kulkarni · Chief Financial Officer
Ajinkya Joglekar · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Rishabh Instruments IPO FAQs
What is the lot size of Rishabh Instruments IPO?
The minimum lot size of Rishabh Instruments IPO is 34 shares. One lot costs ₹14,994 at the cut-off price.
When does Rishabh Instruments IPO open and close?
Rishabh Instruments IPO opened for subscription on 30 Aug 2023 and closed on 01 Sep 2023.
What is the listing date of Rishabh Instruments IPO?
Rishabh Instruments IPO listed on 11 Sep 2023.