Rishabh Instruments to list on September 11, expected to gain 12% over issue price
Rishabh Instruments, a global energy efficiency solution company, is set to list on the stock exchanges on September 11. Experts expect the stock to list with at least a 12 percent premium over the issue price of Rs 441, citing strong revenues from export business.
The company’s IPO was subscribed 31.65 times, with bids for 24.65 crore equity shares against the issue size of 77.9 lakh shares. The IPO included a fresh issue of Rs 75 crore of 17 lakh shares and an offer for sale of Rs 415 crore of 9.4 lakh shares.
The grey market premium for the stock is currently at 15%, indicating strong demand from investors.
Analysts advise investors to book profits on the listing day, as the stock is likely to be volatile in the initial days.
Here are some of the reasons why Rishabh Instruments is expected to list with a gain:
- Strong demand from investors in the IPO
- Strong export-oriented business with 66% of revenue coming from exports
- Strong brand in niche products
- Buoyant market sentiment
However, it is important to note that the stock market is volatile and there is no guarantee that the stock will list at a premium. Investors should do their own research before investing in any stock.
Here are some additional details about the company:
- Rishabh Instruments is a global energy efficiency solution company with a focus on electrical automation, metering, measurement, and precision-engineered products.
- It caters to power, automotive, and industrial sectors through its five manufacturing facilities.
- The company has a strong export-oriented business with 66% of revenue coming from exports.
- It has a strong brand in niche products such as electrical protection devices and control panels.
Overall, Rishabh Instruments is a well-positioned company with strong fundamentals. However, investors should be cautious about the volatile stock market conditions and book profits on the listing day.
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