According to a news agency, Rishabh Instruments will use Rs 59.50 crore of the proceeds from the new issue for the expansion of the manufacturing plant, while the rest of the money will be used for corporate purposes.
Rishabh Instruments, a component manufacturing company in the power sector, has received SEBI's approval for its upcoming IPO. The company is set to raise Rs 75 crore from the market through the new issue, while the promoters and shareholders of the Offer for Sale company will sell 9417500 equity shares.
Based in Nashik, Rishabh Instruments manufactures electrical meters, gauges, automation products, engineering products for power sector, and also provides solutions through various applications. The company has already filed a draft to raise money through an IPO with Sebi in December last year. With the final observation letter issued by SEBI, the company is now cleared to proceed with the IPO process.
It is reported that Asha Narendra Golia will offload 2500000 equity shares of this company, while Rishabh Narendra Golia, Narendra Rishabh Golia (HUF) will offload 400000 and 517,500 shares respectively. Additionally, SACEF Holdings II will offload 6000000 shares. The company may also do a pre-IPO placement of Rs 15 crore in consultation with bankers, which may result in a reduction in the size of the issue.
According to a news agency, Rishabh Instruments will use Rs 59.50 crore of the proceeds from the new issue for the expansion of the manufacturing plant, while the rest of the money will be used for corporate purposes. The company's revenue from operations in 2020-21 was Rs 390 crore, and in 2021-22 it increased by 20 per cent to Rs 470 crore. The company's pre-tax profit rose 38 percent to Rs 49 crore in the 2021-22 financial year. In the first half of 2022-23, the company generated revenue from operations of Rs 261 crore, and the profit before tax reached Rs 17 crore.
Rishabh Instruments has proposed to be listed on NSE and BSE. With its SEBI-approved IPO, investors can look forward to investing in a growing company in the power sector that has seen significant revenue growth in recent years.
Rishabh Instruments, a component manufacturing company in the power sector, has received SEBI's approval for its upcoming IPO. The company is set to raise Rs 75 crore from the market through the new issue, while the promoters and shareholders of the Offer for Sale company will sell 9417500 equity shares.
Based in Nashik, Rishabh Instruments manufactures electrical meters, gauges, automation products, engineering products for power sector, and also provides solutions through various applications. The company has already filed a draft to raise money through an IPO with Sebi in December last year. With the final observation letter issued by SEBI, the company is now cleared to proceed with the IPO process.
It is reported that Asha Narendra Golia will offload 2500000 equity shares of this company, while Rishabh Narendra Golia, Narendra Rishabh Golia (HUF) will offload 400000 and 517,500 shares respectively. Additionally, SACEF Holdings II will offload 6000000 shares. The company may also do a pre-IPO placement of Rs 15 crore in consultation with bankers, which may result in a reduction in the size of the issue.
According to a news agency, Rishabh Instruments will use Rs 59.50 crore of the proceeds from the new issue for the expansion of the manufacturing plant, while the rest of the money will be used for corporate purposes. The company's revenue from operations in 2020-21 was Rs 390 crore, and in 2021-22 it increased by 20 per cent to Rs 470 crore. The company's pre-tax profit rose 38 percent to Rs 49 crore in the 2021-22 financial year. In the first half of 2022-23, the company generated revenue from operations of Rs 261 crore, and the profit before tax reached Rs 17 crore.
Rishabh Instruments has proposed to be listed on NSE and BSE. With its SEBI-approved IPO, investors can look forward to investing in a growing company in the power sector that has seen significant revenue growth in recent years.
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