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you are here: HomeNewsBusinessIPO











RISHABH INSTRUMENT FILES DRAFT IPO PAPERS WITH SEBI TO RAISE FUNDS


THE COMPANY IS AN 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.

Moneycontrol News
January 02, 2023 / 11:30 AM IST
 * 
 * 
 * 
 * 
 * 
 * 

 * 
 * 
 * 
 * 
 * 
 * 


IPO

Nashik-based Rishabh Instruments Ltd has filed a draft red herring prospectus
with the Securities Exchange Board of India to raise funds through initial
public offerings.

The IPO consists of a fresh issue of Rs 75 crore and an offer-for-sale of up to
9.42 million shares by its existing shareholders and promoters.



The OFS comprises up to 2.5 million shares by Asha Narendra Goliya, up to 4 lakh
shares by Rishabh Narendra Goliya, up to 5.18 lakh shares by Narendra Rishabh
Goliya (HUF) and up to 6 million shares by South Asia Clean Energy Fund (SACEF),
a South Asia-focused small and medium enterprises (SME) fund managed by Global
Environment Fund (GEF).

Dam Capital Advisors Ltd, Mirae Asset Capital Markets India and Motilal Oswal
Investment Advisors are the lead managers to the issue.

The company is an 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.




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In addition, it manufactures and supplies aluminium high pressure die casting
through its arm, Lumel Alucast . It has two manufacturing facilities in Nashik
and has total installed capacity of 4.19 million units per annum as of March
2022.

The proceeds from the issue worth Rs 59.50 crore will be used to expand its
manufacturing facility to build and strengthen core capabilities and to build
capacity for manufacturing of electrical automation products, metering, control
and protection devices and solar string inverters. according to DRHP.

For FY22, revenue from operations was at Rs 470.25 crore against Rs 389.96 crore
a year ago. Net profit for the period was at Rs 49.65 crore verus Rs 35.94 crore
last year.

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Moneycontrol News
Tags: #fresh issue #IPO - News #IPO close #IPO opening #markets #offer-for-sale
#SEBI
first published: Jan 2, 2023 11:30 am


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