Rishabh Instruments files DRHP with SEBI for the proposed IPO; Key Details here

Rishabh Instruments is into Electronics Electrical Instruments and is looking raise funds through Fresh Issue and Offer for Sale

Rishabh Instruments to raise Fresh Issue aggregating up to Rs 75 crores and an Offer for Sale up to 9,428,178 Equity Shares through public issue IPO

Rishabh Instruments IPO: Rishabh Instruments Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 75 crores and an Offer for Sale up to 9,428,178 Equity Shares. DAM Capital Advisors, Mirae Asset Capital Markets (India), Motilal Oswal Investment Advisors have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 75 Crs and offer-for-sale (OFS) of up to 9,428,178 equity shares by Asha Narendra Goliya, Rishabh Narendra Goliya, Narendra Rishabh Goliya (HUF) and SACEF Holdings II who will offload Up to 1,500,000 Equity shares, Up to 400,000 Equity shares, Up to 517,500 Equity shares and Up to 7,010,678 Equity shares respectively...

Objects of the issue:
1) Financing the cost towards the Expansion of Nashik Manufacturing Facility I of about Rs. 62.89 crores, and 2) General corporate purpose.

About Company:
Company established in 1982 is into global energy efficiency solution focused on electrical automation, metering and measurement, precision engineered products, et al. with diverse applications across industries including power, automotive and industrial sectors. Company is vertically integrated player involved in designing, developing, manufacturing and supplying electrical automation devices; metering, control and protection devices; portable test and measuring instruments; and solar string inverters. In addition, company also manufacture and supply aluminium high pressure die casting through its subsidiary, Lumel Alucast. It also provide certain manufacturing services which include mould design and manufacturing, EMI/EMC testing services, Electronic Manufacturing Services, and software solutions (e.g., MARC).

About Industry:
The global electrical automation market is valued at USD 147.5 billion in 2022 and is expected to reach USD 215.1 billion by 2027. The global metering, control and protection devices market is estimated at USD 34.08 billion in 2022 and is expected to reach USD 43.04 billion by 2027. The market for portable test and measurement equipment is expected to grow at 5.1% and reach USD 6.6 billion by 2027. For solar string inverters, global revenue is expected to increase from USD 4.3 billion in 2022 to USD 6.6 billion in 2027, at a CAGR of 9.1%. (Source: F&S Report)

Source: SEBI, BSE, NSE, DRHP, Company, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.