Rishabh Instrument's IPO measures 31.65 times demand on final day

The Initial Public Offering of Rishabh Instruments Limited, a global energy efficiency solution company, focused on electrical automation, metering and measurement, precision engineered products and aluminium high pressure die castings with diverse applications across industries including power, automotive and industrial sectors, was subscribed 31.65 times on the final day of bidding.

The issue received bids of 24,65,26,010 shares against the offered 77,90,202 equity shares, at a price band of ₹418-441, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion was subscribed 72.54 times, Non-Institutional Investors Portion was subscribed 31.29 times, whereas Retail Portion was subscribed 8.43 times.

DAM Capital Advisors Limited, Mirae Asset Capital Markets (India) Private Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers to the offer and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE Limited and National Stock Exchange (NSE).

Source : Equity Bulls

Keywords

RishabhInstruments IPO FundRaising OverSubscription