Rishabh Instruments Ltd IPO debuts at Rs 460 on the Exchange

Mumbai, 11th September 2023 (GNI): L-R: Mr. Dineshkumar Musalekar, Group CEO, Mr. Rishabh Goliya, Promoter, Mr. Narendra Goliya, CMD and Mr. Nitinkumar Deshpande, Head – Marketing, Business Development of Rishabh Instruments Limited at the Listing Ceremony, NSE in Mumbai – photo by GNI

Mumbai, 11th September 2023 (GNI):  Mr. Narendra Goliya, CMD, Rishabh Instruments Limited at the Listing Ceremony, NSE in Mumbai – pjoto by GNI

Mumbai, September 11, 2023 (GNI): Nashik based Rishabh Instruments Limited, a global energy efficiency solution company, debuted on the exchanges at Rs 460 per equity share.

The scrip listed Rs 460 per share on BSE and Rs 460.05 per share on NSE, at a premium of 4.31% and 4.32% respectively. The company’s share price closed at Rs 442.75 per share on the BSE, a 0.40% premium, and at Rs 441.50 per share on the NSE, a 0.11% premium.

As per NSE, the total quantity traded stood at 8.04 lakh shares, on BSE the total Quantity stood at 5.80 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 391.11 crore.

Mr. Narendra Joharimal Goliya, CMD – Rishabh Instruments Limited, “Today marks a significant milestone in the journey of Rishabh Instruments as we embark on a new chapter as a listed company. We extend our heartfelt gratitude to our dedicated team, loyal customers, and supportive stakeholders who have been the driving force behind our success. This listing wouldn’t have been possible without your unwavering belief in our vision and dedication to excellence. As we step into this exciting phase, we remain committed to delivering value, innovation, and sustainable growth. We look forward to the opportunities ahead and are eager to create lasting value for all our stakeholders “

The Market Capitalization of the Company at today’s closing price stood at Rs. 1680.74 Crore as per BSE and Rs. 1675.99 Crore as per NSE.

Narendra Joharimal Goliya founded Rishabh Instruments in the year 1982 and has over 4 decades of experience in the electrical and electronic instruments industry. The company supplies a wide range of electrical measurement and process optimization equipment and engages in the design, development, manufacturing, and sale of devices significantly under its own brand across several sectors.

It is a vertically integrated player involved in designing, developing, manufacturing and supplying electrical automation devices; metering, control and protection devices; portable test and measuring instruments; and solar string inverters. Additionally, through its subsidiary, Lumel Alucast, it manufactures and supplies high pressure die cast aluminum components to the automation and automotive industry mainly in Europe.

According to the F&S report mentioned in the Red Herring Prospectus (“RHP”), the Company is a global leader in the manufacture and supply of analog panel meters and is also one of the leading global manufacturers and suppliers of low voltage current transformers. For meters, controllers, and recorders, Lumel is the most popular brand in Poland, and Lumel Alucast is one of the leading non-ferrous pressure casting players in Europe.

Rishabh Instruments’ revenue from operations increased by 21.11% from Rs 470.25 crore in Fiscal 2022 to Rs 569.54 crore in Fiscal 2023, primarily driven by increase in revenue from sale of goods and from sale of services, whereas profit grew to Rs 49.69 crore in Fiscal 2023, as compared to Rs 49.65 crore in Fiscal 2022.ends GNI