Rishabh Instruments Files DRHP with SEBI

2 Jan 2023 , 01:33 PM

The global energy efficiency solution provider, Rishabh Instruments has filed draft prospectus with market regulatory board on December 29, 2022. The company wants to raise Rs 75 crore via fresh issue of equity shares and an offer-for-sale (OFS) of 9.42 million shares by its existing shareholders and promoters.

The company is one of the top players involved in designing, developing, manufacturing and supplying electrical automation devices; metering, control and protection devices; portable test and measuring instruments; and solar string inverters.

As per DRHP, Rishabh Instruments will utilize net proceeds from the fresh issue to expand its manufacturing facility to build and strengthen core capabilities and to build capacity for manufacturing of electrical automation products, metering, control and protection devices and solar string inverters.

Dam Capital Advisors Ltd, Mirae Asset Capital Markets India and Motilal Oswal Investment Advisors are the lead managers to the issue. KFin Technologies is working as registrar for the same.