Rishabh Instruments IPO Subscription Status

Rishabh Instruments IPO subscription status started on Tuesday August 30, 2023 and will close on September 01, 2023. Rishabh Instruments IPO to raise around ₹491 crores via IPO. The retail quota is 35%, QIB is 50%, and HNI is 15%. The price band is fixed at ₹418 to ₹441 per equity share.

Rishabh Instruments IPO Subscription Status

Category	Subscription
QIB	72.54x
NII	31.29x
bNII (bids above ₹10L)	34.01x
sNII (bids below ₹10L)	25.85x
RII	08.43x
Shareholders	NA
Total	31.65x

QIB Portion subscription Details

Let’s begin by discussing the pre-IPO anchor placement. On August 29, 2023, Rishabh Instruments Ltd conducted an anchor placement, during which 30% of the IPO’s total size was allocated to anchor investors. Out of the total offering of 1,11,28,858 shares, anchor investors acquired 33,38,656 shares, constituting 30% of the entire IPO size. The reporting of the anchor placement to the Bombay Stock Exchange (BSE) was done late on the same day, August 29, 2023.

Rishabh Instruments Ltd’s IPO officially commenced on August 30, 2023, with a price range of ₹418 to ₹441 per share. The subscription period for the IPO ran until September 1, 2023, encompassing both of these days. Notably, the entire anchor allocation was executed at the upper end of the price band, which amounted to ₹441 per share. This price includes a face value of ₹10 per share and a premium of ₹431 per share.

Now, let’s delve into the specifics of the anchor allocation, highlighting the key anchor investors and the quantities they were allotted. This information provides a snapshot of the anchor investor landscape.

Anchor Investors	No. of Shares	% of Anchor Portion	Value Allocated
Aditya Birla Life Insurance Co.	4,14,970	12.43%	₹18.30 crore
Sundaram Flexi Cap Fund	3,48,738	10.45%	₹15.38 crore
Nippon India Small Cap Fund	3,14,942	9.43%	₹13.89 crore
Quant Dynamic Asset Allocation Fund	2,56,270	7.68%	₹11.30 crore
Nippon India Flexi Cap Fund	2,51,974	7.55%	₹11.11 crore
Bandhan Emerging Business Fund	2,07,502	6.22%	₹9.15 crore
Bandhan Multi-Cap Fund	2,07,468	6.21%	₹9.15 crore
Ashoka India Equity Fund	1,81,648	5.44%	₹8.01 crore
Tata Multi-Cap Fund	1,81,648	5.44%	₹8.01 crore
3P India Equity Fund	1,81,648	5.44%	₹8.01 crore
Quant Manufacturing Fund	1,58,700	4.75%	₹7.00 crore
HDFC Infrastructure Fund	1,41,746	4.25%	₹6.25 crore
HDFC Dividend Yield Fund	1,41,746	4.25%	₹6.25 crore
HDFC Defence Fund	1,41,746	4.25%	₹6.25 crore
HDFC Transportation and Logistics Fund	1,41,746	4.25%	₹6.25 crore
Sundaram Equity Savings Fund	66,232	1.98%	₹2.92 crore
Grand Total Anchor Allocation	33,38,656	100.00%	₹147.23 crore

data source: BSE fillings

Subscription status of the HNI (High Net Worth Individual) and NII (Non-Institutional Investor) portion.

The HNI portion witnessed an overwhelming response, with a subscription rate of 31.29 times. This means that applications were received for 522.28 lakh shares, far surpassing the allotted quota of 16.69 lakh shares.

This remarkable response was observed at the end of Day-3 of the subscription period, which is typical for this segment, as it often experiences the highest level of interest and applications on the final day.

Subscription status of Retail Investors

The retail segment exhibited a subscription rate of 8.43 times at the end of Day-3, indicating a consistent and robust interest from retail investors. It’s important to highlight that the retail allocation in this IPO is set at 35%.

For retail investors, out of the 38.95 lakh shares made available, valid bids were received for a total of 328.40 lakh shares. This figure includes bids for 277.50 lakh shares at the cut-off price.

Rishabh Instruments IPO Investor Categories

Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, and Mutual Funds
Non-Institutional Investors(NII): Individual Investors, NRIs, Companies, Trusts, etc.
Retail Individual Investors (RII): Retail Individual Investors or NRIs
Employee (EMP): Eligible Employees
Others: Eligible Shareholders

Rishabh Instruments IPO Review

Rishabh Instruments Ltd conducted its Initial Public Offering (IPO) with significant attention from investors. The IPO subscription status and response from different investor segments were notable aspects of this offering.

HNI and NII Portion: The High Net Worth Individual (HNI) portion of the IPO experienced an outstanding subscription rate of 31.29 times. This segment received applications for 522.28 lakh shares against an allocated quota of 16.69 lakh shares. Such strong demand, especially on the last day of subscription, reflects the confidence of high-net-worth investors in the company’s prospects.
Retail Investor Segment: Retail investors also showed a keen interest in the Rishabh Instruments IPO. The subscription rate for this segment was 8.43 times, indicating a steady and robust appetite for the IPO shares. It’s important to note that the retail allocation is set at 35% in this IPO. Out of the 38.95 lakh shares on offer for retail investors, valid bids were received for a substantial 328.40 lakh shares, which includes bids for 277.50 lakh shares at the cut-off price.
Anchor Placement: Prior to the IPO, Rishabh Instruments Ltd conducted an anchor placement where 30% of the IPO size was allocated to anchor investors. The entire anchor allocation was made at the upper price band of ₹441 per share, which includes both the face value and a premium.
IPO Price Band: The IPO opened with a price band of ₹418 to ₹441 per share. This pricing strategy aims to attract a wide range of investors, from those seeking value at the lower end of the band to those willing to pay a premium for shares at the upper end.

Rishabh Instruments IPO has garnered substantial interest from both HNI and retail investors. The strong subscription rates in these segments reflect positive market sentiment and investor confidence in the company’s potential. As always, investors are advised to carefully consider their investment objectives and conduct due diligence before participating in any IPO.