Rishabh Instruments gets Sebi nod to float IPO

February 22, 2023

Energy effectiveness company Rishabh Instruments has entered requests controller Securities and Exchange Board of India (SEBI) blessing for the proposed original public offer (IPO).The request controller has given a final observation letter for the same. In Sebi’s parlance a final observation letter implies a go- ahead for the public issue.

The Nashik- grounded company is a global energy effectiveness result company concentrated on electrical robotization, metering and dimension, perfection finagled products with different operations across diligence including power, automotive and artificial sectors. The company had filed primary IPO papers with Sebi in December last time. The issue consists of a fresh issue of equity shares worth up to Rs 75 crore and an offer- for- trade (OFS) of over to 9,417,500 equity shares by protagonist and dealing shareholders.

Asha Narendra Goliya will discharge about 2500,000 equity shares, while Rishabh Narendra Goliya will give 400,000 equity shares and 517,500 equity shares will be unloaded by Narendra Rishabh Goliya (HUF). Meanwhile, SACEF effects II too will give about 60,00,000 equity shares. The company, in discussion with the lead bankers to the issue, may consider a Pre-IPO placement of Rs 15crore.However, the issue size will be reduced consequently, If similar placement is completed.

The proceeds from the fresh allocation worth Rs59.50 crores will be used towards financing the cost towards the expansion of Nashik manufacturing installation and general commercial purposes. Rishabh Instruments’ profit from operations increased by 20% from Rs 390 crore in financial 2021 to Rs 470 crore in financial 2022, driven by increase in profit from trade of goods and from trade of services, whereas profit after duty grew 38% to Rs 49 crore in FY22.

For the six months ended September 30, 2022 profit from operations stood at Rs 261 crore and profit after duty stood at Rs 17 crore. DAM Capital counsels, Mirae Asset Capital Markets (India) and Motilal Oswal Investment counsels are the book- running lead directors and KFin Technologies is the register to the issue. The equity shares of the company are proposed to be listed on both– NSE and BSE.

About Rishabh Instruments limited


Rishabh Instruments limited, with an experience of nearly three decades is an organization that has built its core competence in manufacturing, design and development of Test and Measuring Instruments and Industrial Control Products on strong fundamentals; in terms of people, infrastructure and financials. The company provides a hands-on, value driven, professional environment considering people its most important asset. Rishabh at a glance…

3 state-of-the-art manufacturing facilities, 270+ dealers across the globe, reaching 70+countriesand 150+ dealers across India covering every state. * 8 S&M offices, 80+ Sales Professionals With sound technical acumen * 500+ employees, with R&D team of 60+ engineers for quality manufacturing and continuous improvement

Mission & Vision

The companies shall engineer and provide products by efficient use of all resources consistently surpassing customer expectations on quality and delivery at competitive price. The companies shall achieve performance excellence by innovation and continuous improvements in processes, products and services to create opportunities for growth for all stakeholders of the organization..

The Group’s vision is to achieve continuous growth through innovation and technological advancement in the field of energy measurement, automation products and die casting.