Rishabh Instruments IPO
Rishabh Instruments Limited (RISHABH) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 11 September 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +18.5% (likely range +13% to +19%), day's high +28.4%, chance of a gain 82%. Actual: +4.3% at the open, +6.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 22,25,772 | 16,14,57,840 | 72.5x | |
| NII (HNI) total | 16,69,329 | 5,22,32,772 | 31.3x | |
| Big NII (above ₹10 lakh) | 11,12,886 | 3,78,45,604 | 34.0x | |
| Small NII (₹2-10 lakh) | 5,56,443 | 1,43,87,168 | 25.9x | |
| Retail | 38,95,101 | 3,28,80,550 | 8.44x | |
| Total | 77,90,202 | 24,65,71,162 | 31.7x |
Bids on NSE and BSE together, as published by NSE, as of 01 Sep 2023, 07:00 PM. Shares offered exclude the anchor portion. 11% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Rishabh Instruments's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Yatharth Hospital and Trauma Care ServicesJul 2023 | 85.1x | 37.2x | 8.34x | 36.2x | ₹705 Cr | +2.0% | +14.4% |
| Electronics Mart IndiaOct 2022 | 62.3x | 24.5x | 12.8x | 29.4x | ₹527 Cr | +52.5% | +54.2% |
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
| Syrma SGS TechnologyAug 2022 | 87.6x | 17.5x | 5.53x | 32.6x | ₹911 Cr | +18.2% | +41.8% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
| Uniparts IndiaDec 2022 | 67.1x | 17.9x | 4.63x | 25.3x | ₹836 Cr | -0.3% | 0.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| DAM Capital Advisors | 37 | +13.6% | 59% |
| Mirae Asset Capital Markets (India) | — | — | — |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
Offer documents (NSE)
Frequently asked
What is the Rishabh Instruments IPO price band and lot size? ₹418–441 per share, with a lot of 34 shares, so the smallest retail bid is ₹14,994.
How many times has it been subscribed? 31.7x overall: QIB 72.5x, NII 31.3x, retail 8.44x.
How did it list? It opened at ₹460, +4.3% against the issue price of ₹441, and closed its first day +0.5%.
