Rikhav Securities IPO Allotment Status: Check Latest GMP, Steps To Verify Status

IPO Details

Rikhav Securities IPO, valued at ₹88.82 crores, comprises a fresh issue of 83.28 lakh shares amounting to ₹71.62 crores and an offer for sale of 20 lakh shares worth ₹17.20 crores. The IPO bidding window was open from January 15 to January 17, 2025, with share allotment finalized on January 20, 2025. The IPO is set to list on the BSE SME platform, with the tentative listing date scheduled for January 22, 2025. Priced within a range of ₹82 to ₹86 per share, the IPO requires a minimum investment of ₹1,37,600 for retail investors (1 lot of 1,600 shares). For HNIs, the minimum application size is 2 lots (3,200 shares), requiring an investment of ₹2,75,200.

Use of Proceeds

The company plans to allocate the net proceeds from the fresh offer toward the following objectives:

• Strengthening working capital: To address the company’s growing operational needs.
• Capital investments: To finance the purchase of IT software, computers, and laptops for enhancing infrastructure.
• General corporate purposes: To support broader strategic and operational initiatives.

IPO Subscription Status

(January 17, 2025, End of the Day)

Rikhav Securities IPO received a total subscription of 307 times as of January 17. The retail category saw a subscription of 251.36 times. The Qualified Institutional Buyers (QIB) category was subscribed 170.92 times. The Non-Institutional Investors (NII) segment recorded the highest subscription at 616.42 times.

GMP Details: According to Livemint, as of January 20, 2025, at 9:31 AM, the last reported Grey Market Premium (GMP) for the Rikhav Securities SME IPO stands at ₹100. Based on the upper price band of ₹86 per share, the estimated listing price is projected at ₹186, reflecting a remarkable potential gain of approximately 116.28% per share. However, SME IPOs have a cap of 90% on listing gain. 

Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.

Rikhav Securities Limited  Business Overview

Founded in 1995, Rikhav Securities Limited is a prominent financial services provider in India, offering a comprehensive range of brokerage, investment, and banking solutions. Registered with SEBI as a stockbroker, the company is a member of BSE, NSE, and MCX, ensuring a robust presence across major exchanges. Its offerings span equity broking, cash delivery, intraday trading, futures, and options, along with trading in derivatives and commodities. As a Self-Clearing Member of the Indian Clearing Corporation and NSE Clearing, Rikhav Securities ensures seamless trade settlements. The company supports clients in IPO participation, provides depository services for demat accounts, and acts as a mutual fund advisor, offering tailored investment guidance. Additionally, it engages in market-making activities to foster liquidity and stability.

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Disclaimer: The GMP (Grey Market Premium) price is unauthenticated market-related news and has no discernible basis. The same quoted above is as per news that appeared in the media report and is for information purposes only. The investor shall do their own study/research before using the same for taking any decision to invest. We neither engage in, trade or deal in the grey market, nor do we recommend or endorse trading in the grey market. 

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.

Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.