The Initial Public Offering (IPO) of Rishabh Instruments was subscribed 2.46 times on the second day of the issue on Thursday. The company’s IPO received a positive response from retail investors and non-institutional investors (NIIs) on the second day.
The IPO size of Rishabh Instruments was Rs 490.78 crore. The price band of the IPO was set at Rs 418 to Rs 441 per equity share, face value at ₹10. According to data available on the National Stock Exchange (NSE), the IPO received bids for 1,91,33,738 shares while the offer was for 77,90,202 shares.
New equity shares worth Rs 75 crore have been issued under the IPO. Additionally, up to 94.3 lakh equity shares have been put up for offer for sale (OFS) by promoter group shareholders and existing investors.
Rishabh Instruments IPO GMP today
According to a report by a topstockbroker.com, shares of Rishabh Instruments were trading at a premium of ₹66 in the grey market on Thursday. If the situation remains the same till listing then the company can be listed in the stock market at around Rs 500. Stock market investors will also have a chance to subscribe to this IPO tomorrow.
Rishabh Instruments is an energy efficiency solutions provider. The company specializes in electrical automation, precision engineered products, metering and measurement, and aluminum high pressure die casting.