Riddhi Display Equipments Ltd IPO

About Riddhi Display Equipments Ltd

Our Company was originally incorporated as `Riddhi Display Equipments Private Limited, a private limited company, under the Companies Act, 1956, with a certificate of incorporation issued under the hand of the Assistant Registrar of Companies, Gujarat, Dadar and Nagar Haveli dated on January 12, 2006. Subsequently, our Company was converted from a private limited company into a public limited company, pursuant to a resolution passed in the extraordinary general meeting of our Shareholders held on October 10, 2024, and consequently, the name of our Company was changed to Riddhi Display Equipments Limited, and a fresh certificate of incorporation consequent upon conversion from private company to public company dated November 21, 2024, was issued by the Registrar of Companies, Central Processing Centre.

The commercial refrigeration market in India is on an impressive growth trajectory and is poised to double from its current valuation of Rs 4,500 - Rs 5,000 crore to Rs 10,000 crore by FY28. This surge is fuelled by the rising demand for food safety and quality, making commercial refrigeration indispensable to the food industry. The sector's rapid expansion offers exciting opportunities for innovation and growth. The country's commercial refrigeration equipment market generated revenue of $1,226.4 million in 2023 and is expected to reach $2,110 million by 2030. It is expected to grow at a CAGR of 8.1 per cent from 2024 to 2030. In terms of segment, other equipment was the largest revenue generating product in 2023. Refrigerators and freezers is the most lucrative product segment registering the fastest growth during the forecast period. In terms of revenue, India accounted for three per cent of the global commercial refrigeration equipment market in 2023. Country-wise, the United States is expected to lead the global market in terms of revenue in 2030. In Asia Pacific, the Chinese commercial refrigeration equipment market is projected to lead the regional market in terms of revenue in 2030, while India is the fastest growing regional market in Asia Pacific.

Our Company is primarily engaged in creating innovative and tailormade solutions for commercial kitchen and bakery setup requirements. Our Company offers customized display equipment for Sweet, Bakery, Namkeen, Fast-food, Chat, Dry Fruit, Snacks, Panipuri (Gol Gappa), Sweet Corn, Ice-cream and Shrikhand. The products manufacture by us are supplied to Restaurants, Food Courts, Cafes, Retail Shops, Super Markets, Ice Cream Parlours, Cake & Pastry Shops, etc.

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