Rishabh Instruments Shares End At 0.40% Premium Over IPO Price
On the BSE, the shares debuted at Rs 460, a premium of 4.31% and at Rs 460.05 on the NSE, a premium of 4.32% to the IPO price.
Shares of Rishabh Instruments Ltd. were listed at Rs 460.05 apiece on the National Stock Exchange, a 4.32% premium to their IPO price of Rs 441 apiece.
On the BSE, the shares debuted at Rs 460, a premium of 4.31%.
The shares ended at a premium of 0.40% over the IPO price, though it declined 3.75% from its listing price to end at Rs 442.75 apiece.
The IPO was subscribed to 31.65 times on its third and final day. The bids were led by non-institutional investors, who subscribed 4.65 times, followed by retail investors at 2.79 times, and institutional investors at 0.22 times, or 22%.
The company raised Rs 103.97 crore from anchor investors ahead of its IPO. It allocated 95.99 lakh equity shares to 15 funds at Rs 108 apiece, according to the BSE circular.
Business
Headquartered in Nashik, Maharashtra, Rishabh Instruments is a worldwide supplier of energy-efficiency solutions. The company focuses on electrical automation, metering and measurement, precision-engineered items, and high-pressure die castings made from aluminium through its subsidiary, Lumel Alucast. These products find diverse applications across the power, automotive, and industrial domains.
The corporation primarily follows a business-to-business model, which is purchase order-based for all segments except portable test and measuring instruments, which are also sold on a merchant basis.
