Rishabh Instruments is into Electronics Electrical Instruments and is looking raise funds through Fresh Issue and Offer for Sale
Rishabh Instruments IPO Update:
Rishabh Instruments Limited IPO: Nashik based Rishabh Instruments Limited established in the year 1982 and is into Electronics - Electrical Instruments sector.
Company is promoted by Narendra Joharimal Goliya. Pre-Offer Promoter and Promoter group stake in the company is 80.67%.
Rishabh Instruments Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 491 Crores calculated on upper price band (face value of INR 10 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 75 crores and an Offer for Sale up to 9,428,178 Equity Shares. DAM Capital Advisors, Mirae Asset Capital Markets (India), Motilal Oswal Investment Advisors have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 418 to Rs 441 with lot size of 34 shares and in multiples thereof. Objects of the issue is 1) Financing the cost towards the Expansion of Nashik Manufacturing Facility I of about Rs. 62.89 crores, and 2) General corporate purpose.
IPO Dates:
IPO will open on August 30, 2023 and close on August 30, 2023. Tentative date of listing on stock exchanges is September 11, 2023
About Industry:
The global electrical automation market is valued at USD 147.5 billion in 2022 and is expected to reach USD 215.1 billion by 2027. The global metering, control and protection devices market is estimated at USD 34.08 billion in 2022 and is expected to reach USD 43.04 billion by 2027. The market for portable test and measurement equipment is expected to grow at 5.1% and reach USD 6.6 billion by 2027. For solar string inverters, global revenue is expected to increase from USD 4.3 billion in 2022 to USD 6.6 billion in 2027, at a CAGR of 9.1%. (Source: F&S Report)
Want to know more details about the IPO, please visit here Rishabh Instruments Limited
Source: SEBI, BSE, NSE, DRHP, Rishabh Instruments, Industry Data
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