Rishabh Instruments, a Nashik-based global energy efficiency solutions company, has filed preliminary papers with Sebi to raise funds through an initial public offering (IPO).
Under the OFS, Asha Narendra Goliya will sell 25,000 shares, Narendra Rishabh Goliya (HUF) will sell 5,17,000 shares, Rishabh Narendra Goliya will sell 4,000 shares and SACEF Holdings II will sell 60,000 shares of the company.
Here’s everything you need to know about the offer:
Offer size: The IPO includes a new issue of shares with a total value of up to €75 crore and an Offer to Sell (OFS) for up to 94.17 lakh shares from Promoter Group shareholders and an existing investor, according to DRHP.
Destination of the output: According to DRHP, the company intends to use a significant portion of the net proceeds from the offering for its expansion project and efforts to expand its manufacturing capacity.
Accounting managers: DAM Capital Advisors, Mirae Asset Capital Markets (India) and Motilal Oswal Investment Advisors are the lead bookers of the offering. KFin Technologies is the registrar for the Offering.
Company overview: According to DRHP, Rishabh Instruments is a global energy efficiency solutions company focused on electrical automation, instrumentation and measurement, precision engineered products, etc. with diverse applications in various industries including energy, automotive and industrial.
The company is a supplier of a wide range of electrical measurement and process optimization equipment. It is also engaged in the design, development and manufacture and sale of equipment mainly under its own brand in multiple sectors.
Company finances: For fiscal year 2022, the Company’s consolidated operating performance was €470.25 crore, up 20.6 percent over €389.96 million a year ago. Net income for FY22 rose 38 percent €49.65 crore against it €35.94 million in FY21.
The company’s total assets in the fiscal year were 22 €563.89 crore against it €511.97 crore a year ago. Total equity and liabilities in fiscal 22 were €563.89 crore against it €511.97 crore a year ago.
We explain here how you can subscribe to an IPO
Initial Release: Jan 04, 2023 12:56 PM IST
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