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Rishabh Instruments IPO
Rishabh Instruments Limited
₹14,212 /34 sharesMinimum Investment
Rishabh Instruments IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 30 Aug ‘23 - 1 Sep ‘23 | ₹14,212 | 34 | ₹418 - ₹441 |
| Issue Size | IPO Doc |
|---|---|
| 490.78Cr | RHP PDF |
Subscription rate
| Qualified Institutional Buyers | 72.54x |
| Non-Institutional Investor | 31.29x |
| Retail Individual Investor | 8.43x |
| Employees | 0.00x |
| Total | 31.64x |
About Rishabh Instruments
Founded in
1982
Managing director
Mr. Narendra Joharimal Goliya
Parent organisation
Rishabh Instruments Limited
Strengths & Financials of Rishabh Instruments
Strengths
Risks
Rishabh Instruments holds two patents for clamp meters with rotary jaw mechanisms and clamp meter safety trigger mechanisms in India and the United States, Poland, and the United Kingdom since 2011 and 2012, respectively.
The company has secured three design registrations in India for multimeters, current and voltage transducers, and power transducers.
In 2023, 2022, and 2021, the company allocated Rs. 13.45 crores, Rs. 9.36 crores, and Rs. 9.63 crores to research and development expenses.
The company operates R&D centers in India, Poland, and China as of May 31, 2023.
The company has an NABL-accredited testing facility that conducts EMI-EMC testing, covering both immunity and emission testing. They employ high-precision imported machinery, including EDM, Wire EDM (Agie Charmilles), CNC SPARK EDM, Vertical Milling Machines (Makino), and high-end calibrators.
The company's product lineup comprises over 145 product lines and a stock of 0.13 million units as of May 31, 2023.
In 2023, 2022, and 2021, the company manufactured 16.21 million units, 14.02 million units, and 13.35 million units of various products.
Over the past three years, the company has served customers in more than 100 countries, including India, Germany, the United States, the United Kingdom, and the Middle East.
The company's products are distributed through a wide network of 175 authorized distributors and stockists spanning 81 districts in India, with direct sales carried out through eight sales offices located in New Delhi, Kolkata, Mumbai, Ahmedabad, Pune, Chennai, Bangalore, and Hyderabad.
Rishabh Instruments relies heavily on its manufacturing facilities in Poland. Any disruptions, slowdowns, or shutdowns at these facilities could severely limit its operations and harm its overall business.
Most of the company's customers do not commit to long-term contracts, and they can cancel orders, change production quantities, delay production, or alter their sourcing strategies at any time.
In 2023, 2022, and 2021, the company generated significant revenue from its top 10 customers, accounting for 31.92%, 23.99%, and 26.42% of total revenue, respectively.
The company faces potential risks related to product quality defects and deficiencies in its manufacturing services, which could lead to the loss of customers and exposure to product liability claims.
The company heavily relies on its subsidiaries for a substantial portion of its operations. Its subsidiaries contribute 67.09%, 72.12%, and 71.64% of total revenue in 2023, 2022, and 2021, respectively, which exposes the company to operational and financial risks.
Shortages in semiconductor supply have previously impacted the company's operations and financial condition, and this risk may continue in the future.
Fluctuations in foreign exchange rates can negatively affect the company's earnings and profitability.
Potential expiration or early withdrawal of financial benefits for the Nashik Manufacturing Facilities could harm the company's business and financials. The company currently benefits from certain incentives from the Ministry of Electronics and Information Technology, GoI.
As of May 31, 2023, the company's subsidiaries have unsecured loans totaling Rs. 17.05 crores, and they may continue to obtain unsecured borrowings in the future, which could be recalled with short notice.
As of May 31, 2023, the company had outstanding borrowings of Rs. 96.29 crores.
Rishabh Instruments Financials
*All values are in Rs. Cr
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Application Details of Rishabh Instruments IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹418 - 441 | Upto ₹2 Lakh |
| High Networth Individual | ₹418 - 441 | ₹2 - 5 Lakh |
For Rishabh Instruments IPO, eligible investors can apply as Regular.