Rishabh Instruments list at 4% premium over issue price

11 Sep 2023 , 10:00 AM

Rishabh Instruments shares made their stock market debut with a 4% premium over the initial issue price of Rs 441. The company’s shares were listed at Rs 460.05 on NSE, reflecting a 4.32% increase, and at Rs 460 on BSE, marking a 4.31% gain.

Rishabh Instruments operates as a global energy efficiency solutions provider, specializing in electrical automation, metering, measurement, and precision-engineered products. It serves various sectors, including power, automotive, and industrial, operating from five manufacturing facilities.

During the subscription period from August 30 to September 1, the company’s shares garnered significant investor interest, achieving a subscription rate of 31.65 times on the final day. The IPO received bids for 24.65 crore equity shares against the issue size of 77.9 lakh shares.