Rishabh Instruments Ltd IPO Timeline

Rishabh Instruments Ltd IPO opens on 30-Aug-2023, and closes on 01-Sep-2023. The Rishabh Instruments Ltd IPO bid date is from 30-Aug-2023 to 01-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Rishabh Instruments Ltd IPO Opening Date 30-Aug-2023
Rishabh Instruments Ltd IPO Closing Date 01-Sep-2023
Basis of Allotment 06-Sep-2023
Initiation of Refunds 07-Sep-2023
Credit of Shares to Demat 08-Sep-2023
Rishabh Instruments Ltd IPO Listing Date 11-Sep-2023

Rishabh Instruments Ltd IPO Lot Size

Rishabh Instruments Ltd IPO lot size is 34 shares. A retail-individual investor can apply for up to 13 lots (442 shares or 194922).

Application Lots Shares Amount
Minimum 1 34 ₹14994
Maximum 13 442 ₹194922

Rishabh Instruments Ltd IPO Details

Rishabh Instruments Ltd IPO Date 30-Aug-2023 to 01-Sep-2023
Rishabh Instruments Ltd IPO Face Value Shares of ₹10 per share
Rishabh Instruments Ltd IPO Price ₹418 to ₹441 per share
Rishabh Instruments Ltd IPO Lot Size 34
Issue Size Shares of ₹10 (aggregating up to ₹490.78 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹75 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹394.1 Cr)
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered Not more than 2225772
Retail Shares Offered Not less than 3895101
NII (HNI) Shares Offered Not less than 1669329
Company Promoters Narendra Joharimal Goliya.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Financing the project cost towards the expansion project
  • 2 General corporate purposes

Company Financials

Rishabh Instruments Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 410.64 230.61 32.38
03-2023 304.96 201.05 18.68
03-2022 280.77 156.32 10.28
Amount in ₹ Crore
  • Ability to drive technology and innovation through advanced research and development capabilities.
  • Global engineering solution provider operating in large addressable markets and well positioned to benefit from mega industrialisation trends.
  • Vertically integrated operations, backed by strong manufacturing capabilities.
  • Diversified product portfolio.
  • Wide customer base.
  • Track record of successful integration of acquired businesses or entities across geographies.
  • The company business is dependent and will continue to depends on its manufacturing facilities, and the company is subject to certain risks in its manufacturing process. Any slowdown or shutdown in the company manufacturing operations could have an adverse effect on its business, financial condition and results of operations.
  • The company propose to utilise a substantial portion of the Net Proceeds of the Offer towards its Expansion Project and the company efforts to expand its production capabilities are subject to delays, cost overruns, and other risks and uncertainties.
  • If the company fail to effectively implement its production schedules, the company business and results of operations may be materially and adversely affected.
  • Most of the company customers do not commit to long term contracts, and may cancel their orders, change production quantities, delay production or change their sourcing strategy.
  • If the products the company manufacture experience quality defects or if the manufacturing services its provide are found to be deficient, its may lose the company customers and may be subject to product liability claims or claims alleging deficiency in service, which may also cause damage to its reputation and/or adversely affect its results of operations and financial condition.
  • If the company cannot execute its strategies to expand existing customer accounts and geographical footprint effectively, its business and prospects may be materially and adversely affected.
  • Failure to manage component and material purchasing and shortages in the supply of its major production inputs could adversely affect the company ability to deliver contracted volumes of manufactured products, increase its inventory carrying costs, increase the company risk of exposure to inventory obsolescence and may have a material adverse effect on its results of operations and financial condition.
  • Failure to maintain optimal inventory levels could increase its inventory holding costs and adversely affect the company operations and financial condition.
  • The continuing impact of the COVID-19 pandemic on its business and operations is uncertain and it may be significant and continue to have an adverse effect on its business, operations and the company future financial performance.
  • The company is dependent on its Promoter, management team, a number of Key Managerial Personnel and persons with technical expertise and the loss of or the company inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
  • The company is unable to trace some of its historical records including forms filed with the RoC and there are certain discrepancies in records available with it as well as the company filings with the RoC. There have been certain instances of non-compliances, including with respect to certain secretarial/ regulatory filings for corporate actions taken by the Company in the past. Consequently, itsmay be subject to regulatory actions and penalties for any such non-compliance and its business, financial condition and reputation may be adversely affected.
  • The company operations are dependent on continuous R&D and the company inability to identify and understand evolving industry trends, technological advancements, customer preferences and develop new products to meet its customers' demands may adversely affect the company business.
  • The company may face an adverse impact on the company international sales and earnings as a result of risks associated with its international sales and multi-location operations in various geographies.
  • The company may not be able to replicate the company previous success in the new industries its targeting for future growth.
  • A shortage or non-availability of essential utilities such as electricity, water and gas could affect its manufacturing operations and have an adverse effect on the company business, results of operations and financial condition.
  • The company efforts in obtaining and protecting its patents, trademarks and other intellectual property may be costly and unsuccessful and its may not be able to protect its rights under the company future patents, trademarks and other intellectual property.
  • The expiry or early withdrawal of certain financial benefits available to its Nashik Manufacturing Facilities may adversely affect the company business, financial condition and results of operations.
  • The company use third-party distributors to market, sell and deliver its products and are subject to risks associated with these arrangements.
  • The company export its products to various countries, on account of which its may be subject to significant import duties or restrictions. Further, unavailability of fiscal benefits enjoyed by it or its inability to comply with related requirements may have an adverse effect on its business and results of operations.
  • The company manufacturing, production and design processes and services may result in exposure to intellectual property infringement and other claims.
  • The company may be unable to fully realize the anticipated benefits of the company acquisitions, including that of Lubuskie Zaklady Aparatów Elektrycznych "Lumel" Spólka akcyjna, Sifam UK, a business division of Relpol S.A. and any future acquisitions or investments, and its may not be able to successfully integrate acquisitions or achieve the anticipated benefits from these alliances, acquisitions or investments its make.
  • The company has not entered into any definitive arrangements to utilise certain portions of the Net Proceeds of the Offer. Its funding requirements and deployment of the Net Proceeds of the Offer are based on management estimates, a cost assessment report from Sanjay Madhavrao Patil, architect and certificate from Manish M Kothari, chartered engineer and have not been independently appraised. The deployment of the Net Proceeds will not be monitored by a monitoring agency, accordingly its management will have broad discretion over the use of the Net Proceeds.
  • The company proposed expansion plans relating to Nashik Manufacturing Facility I are subject to the risk of unanticipated delays in implementation and cost overruns.
  • Under-utilization of its manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.
  • Any variation in the utilisation of the Net Proceeds shall be subject to certain compliance requirements, including prior approval from Shareholders.
  • The company business could be adversely affected by any delays, or increased costs, resulting from common carrier or transportation issues.
  • If the company is utilise sub-contractors or manufacturing vendors for any production processes and such sub-contractors or manufacturing vendors are unable to meet its delivery requirements, the company production schedules may be adversely affected.
  • Any failure to obtain or renew any of the approvals, licenses, permits or certificates required for its business could materially and adversely affect the company operations.
  • The company will be controlled by its Promoter along with members of the Promoter Group so long as they hold a majority of the Equity Shares, which will allow them to influence the outcome of certain matters submitted for approval of its Shareholders and their interests may not be aligned with the interest of other Shareholders.
  • The company Directors or Key Managerial Personnel of the Company may have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
  • The company may need additional capital but may not be able to obtain it in a timely manner or on favourable terms.
  • Certain of its Subsidiaries and Group Companies have common pursuits as they are engaged in similar business or industry segments and may compete with the company.
  • The company earn repeat revenues from its customers, especially the company marquee customers, on the basis of the long-term relationships that its has established with them. The loss of any of our long-term marquee customers or significant reduction in repeat orders from such marquee customers may adversely affect its business, results of operations and financial condition.
  • The Company, Subsidiaries, Directors and Promoter are involved in legal proceedings. Any adverse outcome in such proceedings may have an adverse impact on its reputation, business, financial condition, results of operations and cash flows.
  • Work stoppages, strikes or other types of conflicts with its union, employees and contract workers may adversely impact the company business, results of operations and financial condition.
  • The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards in India and abroad. Non-compliance with and adverse changes in health, safety, labour, and environmental laws and other similar regulations to its manufacturing operations may adversely affect the company business, results of operations and financial condition.
  • Any adverse changes in regulations governing its business, products and the products of the company customers, and any adverse action by governmental authorities may adversely impact its business, prospects and results of operations.
  • The demand for its products in foreign countries is subject to international market conditions and regulatory risks that could adversely affect its business and results of operations.
  • The company commercial success depends on the success of its products and the company customer's products with end consumers. Any decline in the demand for its products or its customer's products would adversely impact the demand for the company products.
  • Its inability to accurately forecast demand or price for the company products and manage its inventory may adversely affect the company business, results of operations and financial condition.
  • Its special purpose Ind AS audited consolidated financial statements as at, and for the years ended, March 31, 2020 and March 31, 2021 prepared in accordance with Indian Accounting Standards (Ind AS) and its Restated Consolidated Financial Information as at, and for the years ended, March 31, 2020 and March 31, 2021 (which are based on the company special purpose Ind AS audited consolidated financial statements), have been audited by Kirtane & Pandit, LLP, Chartered Accountants as an independent peer reviewed chartered accountant of the Company and who is not its Statutory Auditor.
  • The company success depends upon the company skilled personnel and its ability to attract and retain these personnel.
  • The company face competition from both domestic as well as multinational corporations and its inability to compete effectively could result in the loss of customers, hence, its market share, which could have an adverse effect on its business, results of operations, financial condition and future prospects.
  • The company inability to collect receivables and defaults in payment from its customers could result in the reduction of the company profits and affect its cash flows.
  • The company growth strategy includes augmenting its inorganic growth by pursuing selective acquisitions and strategic alliances that provide it access to better infrastructure, industry knowledge, technology expertise and geographical reach and allow it to expand the company product offerings and customer base. If its unable to fully realize the anticipated benefits of its future acquisitions and investments or successfully identify and integrate acquisitions and the anticipated benefits from these acquisitions or investments, its growth strategy, business, financial condition, results of operations and prospects may be adversely affected.
  • Significant disruptions of information technology systems or breaches of data security could adversely affect its business.
  • Information relating to installed capacities, historical production and capacity utilisation of the Nashik Manufacturing Facilities, Poland Manufacturing Facilities and China Manufacturing Facility included in this Draft Red Herring Prospectus is based on various assumptions and estimates by the chartered engineer verifying such information and future production and capacity utilisation may vary.
  • The company insurance coverage is limited and may not be adequate to cover potential losses and liabilities.
  • Foreign exchange fluctuations may adversely affect its earnings and profitability.
  • The company ability to pay dividends in the future will depends on the company earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of its financing arrangements.
  • The immediate relatives of its Promoter, who are deemed to be a part of the Promoter Group under SEBI ICDR Regulations have not provided consent, information or any confirmations or undertakings pertaining to themselves which are required to be disclosed in relation to a member of the Promoter Group in this Draft Red Herring Prospectus.
  • The company has certain contingent liabilities that have not been provided for in its financial statements, which if they materialise, may adversely affect the company financial condition.
  • The company Subsidiaries have unsecured loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans may adversely affect its cash flows.
  • Certain of its immovable properties in India and overseas are taken on lease by it. If the company is unable to renew existing leases or relocate its operations on commercially reasonable terms, there may be an adverse effect.
  • The company Promoter has provided a personal guarantee for a portion of its borrowings. The company business, financial condition, results of operations and prospects may be adversely affected by the revocation of all or any of the personal guarantee provided by its Promoter in connection with the Company's borrowings.
  • The company has significant capital requirements. If its experience insufficient cash flows to allow it to make required payments on its debt or fund working capital requirements, there may be an adverse effect on its business and results of operations.
  • This Draft Red Herring Prospectus contains information from an industry report which has been commissioned and paid for by it exclusively for the purposes of the Offer and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
  • The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The Company will not receive any proceeds from the Offer for Sale.
  • The company is subject to and are required to comply with restrictive covenants under its financing agreements, including if the company draw down amounts pursuant to such agreements.
  • The average cost of acquisition of Equity Shares by the Selling Shareholders may be less than the Offer Price.
  • The company operations may involve certain transactions in or with countries or persons that are subject to U.S. and other sanctions.
  • Certain non-GAAP financial measures and performance indicators presented in this Draft Red Herring Prospectus may have limitations as analytical tools, may vary from any standard methodology applicable across the electrical and aluminium industry, and may not be comparable with financial or statistical information of similar nomenclature presented by other peer companies.
  • Enhance product innovation, engineering and design competence while focussing on higher value addition
  • Expanding geographical footprint
  • Continue to pursue its strategy for inorganic growth
  • Target new customers and expand existing customer accounts
  • Explore opportunities to tap emerging products and services segments
  • Promote product localization

Rishabh Instruments Ltd IPO Promoter Holding

Pre Issue Share Holding 44.85%
Post Issue Share Holding 42.84%

Rishabh Instruments Ltd IPO Subscription Status (Bidding Detail)

The Rishabh Instruments Ltd IPO is subscribed 31.65 times on Sep 01, 2023 05:00:00 PM. The public issue subscribed 8.44 times in the retail category, 72.54 times in the QIB category, and 31.29 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) 72.54 31.29 8.44 - 31.65

Rishabh Instruments Ltd IPO Prospectus

Rishabh Instruments Ltd IPO Listing Date

Listing Date 11 Sep 23
BSE Script 543977
NSE Symbol RISHABH
Listing In BSE, NSE
ISIN INE0N2P01017
IPO Price ₹441
Face Value ₹10

Rishabh Instruments Ltd IPO Registrar

KFin Techologies Ltd

Phone: +91 40 6716 2222
Email: rishabh.ipo@kfintech.com
Website: www.kfintech.com

Rishabh Instruments Ltd IPO Lead Manager(s)

  1. DAM Capital Advisors Ltd
  2. Mirae Asset Capital Markets (India) Pvt Ltd
  3. Motilal Oswal Investment Advisors Ltd

FAQs on Rishabh Instruments Ltd IPO

Rishabh Instruments Ltd IPO, which opens for subscription from 30-Aug-2023 to 01-Sep-2023 has an issue size of ₹490.78 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Rishabh Instruments Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Rishabh Instruments Ltd IPO Opens for subscription from 30-Aug-2023 to 01-Sep-2023.

The lot size of Rishabh Instruments Ltd is 34 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14994 and ₹194922 respectively.

Allotment date for Rishabh Instruments Ltd is 06-Sep-2023 and refund of application amount (in case allotment is not received) will begin from 07-Sep-2023. If your allotment goes through, then shares will be credited in your Demat account by 08-Sep-2023.

The registrar for Rishabh Instruments Ltd IPO is KFin Techologies Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Rishabh Instruments Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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