Electrical Instruments / Meters - Listed on 11 September 2023
Rishabh Instruments (Electrical Instruments / Meters) closed its IPO window in 2023 and listed on NSE and BSE on 11 September 2023 at an upper band issue price of Rs 441, opening at Rs 460.05 for a listing gain of +4.3% and closing day one at Rs 443.15 (+0.5% on closing basis). The IPO was subscribed 31.63x overall - QIB 72.54x, HNI/NII 31.28x, Retail 8.41x. The total issue size was Rs 490.78 Cr (Fresh Issue Rs 75 Cr, OFS Rs 415.78 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Electrical Instruments / Meters
Rishabh Instruments operates in the Electrical Instruments / Meters space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Rishabh Instruments issue was offered at an upper price of Rs 441 and raised approximately Rs 490.78 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 30 | +6.80% |
| Day 2 | Rs 30 | +6.80% |
| Day 3 | Rs 45 | +10.20% |
| Day 4 | Rs 60 | +13.61% |
| Day 5 | Rs 75 | +17.01% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Rishabh Instruments IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Rishabh Instruments IPO listed at +4.3% versus the upper issue price of Rs 441 on 11 September 2023.
Rishabh Instruments IPO was subscribed 31.63x overall. QIB portion was subscribed 72.54x, HNI / NII 31.28x and Retail 8.41x.
IPO GMP started at Rs 30 on Day 1 and moved to Rs 75 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.