Active Stocks
Fri Jun 21 2024 15:59:28
  1. Tata Steel share price
  2. 179.85 -1.37%
  1. ITC share price
  2. 419.60 -0.89%
  1. State Bank Of India share price
  2. 836.40 -0.88%
  1. Wipro share price
  2. 490.55 0.01%
  1. ICICI Bank share price
  2. 1,156.85 0.00%
Business News/ Markets / New IPO Alert: Rishabh Instruments files draft papers with Sebi to mobilise funds via IPO
BackBack

New IPO Alert: Rishabh Instruments files draft papers with Sebi to mobilise funds via IPO

Rishabh Instruments files draft papers with Sebi to mobilise funds via IPO

Car Trade IPO: Grey market is indicating that the public issue will have moderate to reasonable listing, said market observers. Premium
Car Trade IPO: Grey market is indicating that the public issue will have moderate to reasonable listing, said market observers.

(PTI) Rishabh Instruments, a global energy efficiency solution company, has filed preliminary papers with markets regulator Sebi to mop-up funds through an initial public offering (IPO).

The IPO comprises a fresh issue of equity shares aggregating to up to Rs 75 crore and an offer for sale (OFS) for up to 94.17 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP).

Under the OFS, Asha Narendra Goliya will offload 25 lakh equity shares, Narendra Rishabh Goliya (HUF) will sell 5.17 lakh shares, Rishabh Narendra Goliya will dispose of 4 lakh shares and SACEF Holdings II will sell 60 lakh equity shares in the company.

Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.

Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes.

The Nashik-based firm focused on electrical automation, metering and measurement, precision engineered products with diverse applications across industries, including power, automotive and other industrial sectors.

It is one of the leading companies in terms of manufacturing and supply of low voltage current transformers and analog panel meters.

The equity shares of the company are proposed to be listed on both –- NSE and BSE.

DAM Capital Advisors, Mirae Asset Capital Markets (India) and Motilal Oswal Investment Advisors Ltd are the book-running lead managers to the issue.

For the financial year ended March 2022, the company's net profit stood at Rs 49.65 crore, whereas its revenue from operations rose to Rs 470.25 crore in FY22, as compared to Rs 389.96 crore in the previous fiscal.

 

We explain here how to find a good IPO to invest in
View Full Image
We explain here how to find a good IPO to invest in

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 03 Jan 2023, 08:20 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started