In the gray market, where people buy and sell shares before they officially list on the stock exchange, Rishabh Instruments’ IPO is showing strong interest.
The IPO was initially priced at Rs 418 to Rs 441 per share. Currently, in the gray market, it is trading at a premium of ₹ 65 per share.
This suggests that when the shares officially list, they might be priced around Rs 526 per share, which is approximately a 15% premium.
High Investor Response
Rishabh Instruments’ IPO garnered significant attention from investors. On the final day of the offering, the subscription was 31.65 times oversubscribed.
To put this in perspective, the IPO offered 77,90,202 shares, and bids were received for a whopping 24,65,71,162 shares.
1) Non-institutional investors showed strong interest with a 31.29 times subscription.
2) Retail individual investors also participated, with an 8.44 times subscription.
3) Qualified institutional buyers (QIB) category received an impressive 72.54 times subscription.
IPO Details
Under this IPO, the company issued new equity shares worth Rs 75 crore.
Additionally, existing shareholders and investors from the promoter group put up to 94.3 lakh equity shares for sale (OFS).
Notably, Rishabh Instruments successfully raised Rs 147.23 crore from anchor investors prior to the IPO’s launch.
