IPO of Rishabh Instruments will open tomorrow, know information related to price band and valuation

Rishabh Instruments' Initial Public Offer (Rishabh Instruments IPO) is going to open for investors tomorrow. Through this IPO, the company will issue stock worth Rs 75 crore. Whereas, 94.28 lakh shares will be available for Offer for Sale (OFS). The company's IPO will close on 1 September 2023. Come, and let us know the main things related to the IPO of the company.

The company has fixed the price band of its IPO at Rs 418-441 per share. Apart from this, the lot size of the issue of the company is 34 shares. In this case, retail investors can bid for a maximum of 13 lots. At the same time, investors will need at least Rs 14,994 to place bids in this IPO.

The company has reserved 50 percent of its IPO for Qualified Institutional Buyers (QIBs). At the same time, 15 percent of shares have been reserved for NIIC and 35 percent for retail investors. The company's IPO has opened for anchor investors today.

The company informed that the money raised from the IPO will be used for the expansion of its Nashik manufacturing facility. Apart from this, the company will also use it to fulfill its corporate objectives.

The shares of Rishabh Instruments IPO will be allotted on September 6, 2023 (Wednesday). At the same time, the process of refund will start from 7th September. On September 8, 2023, the shares of the company will be deposited in the demat account of the investors. The shares of the company are likely to be listed on BSE and NSE on September 11, 2023 (Monday).

DAM Capital Advisors Limited, Mirae Asset Capital Markets Private Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers to the company's offer. Whereas KFin Technologies Ltd is the registrar of this IPO.