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Rishabh Instruments listed on the bourses at a premium of 4.3%
Sep 11, 2023
On September 11, Rishabh Instruments listed on the stock exchanges with a 4.3% premium. The stock's issue price was Rs 441, and it began trading at Rs 460.05 on the NSE and Rs 460 on the BSE.
Grey market premium, meanwhile, suggested a listing price increase of 12%.
Electrical automation, metering, measuring, and precision-engineered products are the company's main areas of concentration. Its five production sites serve the industrial, automotive, and power industries.
The IPO of Rishabh Instruments received offers for 24.65 crore equity shares on the final day of bidding, which is 31.65 times the issue size of 77.9 lakh shares.
The company recorded strong top-line growth for the fiscal year that ended in March 2023, with revenue from operations increasing 21.1% YoY to Rs 569.5 crore. However, profit was the same, at Rs 49.69 crore compared to Rs 49.65 crore during the same period, due to weak operating margins caused by high input costs and employee expenses.
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