Rishabh Instruments Shares Open Lower on Listing Day, End Slightly Higher

| Leave a Comment | IPO

Rishabh Instruments shares opened lower on their listing day on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on September 11, despite healthy equity market conditions and good initial public offering (IPO) subscription numbers.

The stock opened at Rs 438.75 on the NSE, below its issue price of Rs 441. It touched a high of Rs 470 during the day, but failed to sustain the gains and closed at Rs 443.15, up 0.5%.

On the BSE, the stock opened at Rs 437.50 and closed at Rs 442.75, up 0.4%.

The test & measuring instruments and industrial control products manufacturer had mobilized Rs 490.78 crore through its IPO. The price band for the offer was Rs 418-441 per share.

The IPO was subscribed 31.65 times during August 30-September 1.

The muted performance of Rishabh Instruments shares on their listing day could be due to profit-booking by investors, who had subscribed to the IPO in large numbers. The stock may see some volatility in the coming days, but is expected to trade in a range in the medium term.

Here are some of the key takeaways from the article:

  • Rishabh Instruments shares opened lower on their listing day on the NSE and BSE.
  • The stock touched a high of Rs 470 during the day, but failed to sustain the gains and closed at Rs 443.15 on the NSE.
  • The stock closed at Rs 442.75 on the BSE.
  • The muted performance of the stock could be due to profit-booking by investors.
  • The stock is expected to trade in a range in the medium term

Related News

  • 22 Sep

    Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits

    Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.

  • 22 Sep

    Signature Global IPO Subscribed 11.88 Times on Final Day

    The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.

  • 22 Sep

    Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding

    Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.

  • 22 Sep

    Pharma company Valiant Laboratories to go public on September 27

    Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.

  • 21 Sep

    Unihealth Consultancy makes tepid debut on NSE Emerge

    Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.

Leave a Reply

Your email address will not be published. Required fields are marked *