BSE SME Riddhi Display Equipments' market debut hits a cold shelf

The scrip was listed at Rs 80, a 20% discount to the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 80 and a low of Rs 76. About 13,000 shares of the company changed hands at the counter.

Riddhi Display Equipments' IPO was subscribed 4.72 times. The issue opened for bidding on 8 December 2025 and it closed on 10 December 2025. The price of the IPO was fixed between Rs 95 to Rs 100 per share.

The IPO comprised a fresh issue of 24,68,400 equity shares. The promoter and promoter shareholding diluted to 71.43% from 99.99% pre-IPO.

The company intends to utilize the net proceeds for capital expenditure towards interior work and for purchase of new equipment/machineries for setting up of manufacturing cum assembly unit at Lucknow, Uttar Pradesh, capital expenditure towards purchase of new equipment/machineries/software etc. for upgradation of existing manufacturing unit of the company located at Gondal, Rajkot, capital expenditure towards setting up of showroom at Gondal, Rajkot, funding working capital requirements and for general corporate purpose.

Riddhi Display Equipments manufactures and supplies display counters, commercial kitchen equipment, and refrigeration solutions for sectors such as retail, food service, hospitality, and exhibitions. It operates a manufacturing facility in Gondal, Gujarat, with display counters forming the core revenue stream, while kitchen and refrigeration equipment support hotels, restaurants, hospitals, and institutional clients. As of 31 August 2025, the company had 55 employees.

The company recorded revenue from operations of Rs 11.22 crore and net profit of Rs 2 crore for the period ended 31 July 2025.