How To Check Rikhav Securities IPO Allotment Status on BSE And Link Intime; GMP Skyrockets Over 110%

Rikhav Securities IPO Allotment And Grey Market Premium: The initial public offering of Rikhav Securities Ltd. concluded its subscription on Friday. The SME IPO received a fantastic response from the investors who bid for 2,11,31,71,200 shares against the 68,83,200 offered by the company.

The demand for the IPO was led by non-institutional buyers who bid for 91,23,02,400 shares against the 14,80,000 offered.

Rikhav Securities IPO Day 3 Subscription Status

• Qualified Institutions: 170.92 times

• Non-Institutional Buyers: 616.42 times

• Retail Investors: 251.36 times

According to IPO tracking site Investorgain.com, the latest GMP of Rikhav Securities' IPO was Rs 100 as of 12:58 p.m. on Jan. 20. This indicates that the company's shares were trading at a premium of Rs 100 in the grey market.

Considering the IPO price band's upper end and the grey market's current premium, the estimated listing price of Rikhav Securities shares is Rs 186 per share, which is 116.28% higher than the IPO price of Rs 86.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The allotment for Rikhav Securities IPO will be finalised on Monday, January 20. Find below the steps to check the allotment status on the website of BSE and Link Intime India Pvt.

Steps to check Rikhav Securities IPO allotment status on BSE:

• Visit the IPO allotment page on the BSE website here.

• Select 'Equity' under the issue type.

• From the issue name dropdown menu, choose ‘Rikhav Securities Limited’.

• Enter the PAN or Application number.

• Tick the 'I'm not a robot' captcha.

• Click the Search option to check your IPO allotment details.

Steps to check Rikhav Securities IPO allotment status on Link Intime India:

• Visit the IPO Status page on the Link Intime India website here.

• From the company dropdown menu, choose ‘Rikhav Securities Limited’

• Select the input option as PAN, Application number, Account No./IFSC Code or DP/Client ID.

• Enter your PAN, Application number, Account No./IFSC Code or DP/Client ID details based on the option selected above.

• Click the Submit option to check your IPO allotment details.

Shares of Rikhav Securities Limited will list on BSE SME with Wednesday, Jan. 22 as the likely listing date.

Unsuccessful bidders of the Rikhav Securities Ltd. IPO will receive the refunds of their investment on Jan. 21. Successful bidders will also get the credit of shares to their demat accounts on the same day.

The grey market premium of Rikhav Securities gained when the IPO opened for bidding on Wednesday and was Rs 70 when the issue was fully subscribed on Day 1. The GMP climbed further to Rs 85 on the final day which saw subscriptions soar above 300 times. Ahead of the allotment today the GMP climbed to an all-time high of Rs 100, indicating a favorable listing on BSE on Jan. 22

The Rs 88.82-crore Rikhav Securities IPO combines a fresh issue of 83.28 lakh shares aggregating to Rs 71.62 crore and an offer for sale of 20 lakh shares worth Rs 17.20 crore.

Rikhav Securities IPO price band was set at Rs 82 to Rs 86 per share.

Retail investors had to apply for at least 1,600 shares in one lot of the Rikhav Securities IPO. This takes the minimum investment amount to Rs 1,37,600 for a single lot application. The company hopes to raise nearly Rs 90 crore from the primary markets.

Mr Hitesh Himatlal Lakhani, Mr Rajendra N Shah, Ms Bharti Hitesh Lakhani, Ms Vaishali R Shah, Mr Deep Hitesh Lakhani, Mr Monil Rajendra Shah and M/s. Hitesh Himatlal Lakhani HUF are the promoters of the company.

Rikhav Securities will use the funds from the fresh issue of its IPO to support incremental working capital needs, as well as the capex required for buying IT software, computers and laptops. A portion of the proceeds will also be used for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.