Rishabh Instruments share allotment likely today. Here's how you can check status
Rishabh Instruments will likely be finalised on Wednesday. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar.
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.
They can check the allotment status through BSE or by visiting the registrar's website. Here's how you can check the status on BSE.
Step 1: Visit the BSE Website
Step 2: Please select the issue name, that is the company's name in the drop-down.
Step 3: Enter the application number or PAN number to check the allotment status.
The company's shares are expected to get listed on the exchanges on September 11.
According to market sources, Rishabh Instruments is commanding a premium of Rs 71 in the unlisted market.
At the upper price band of Rs 197, the stock is expected to list at a premium of 16%. The Rs 491 crore IPO of Rishabh Instruments was subscribed 31.65x at close.
The issue comprised a fresh equity issue of Rs 75 crore and an offer for sale (OFS) of up to 94.28 lakh shares, which comes to about Rs 416 crore.
Rishabh Instruments is a global energy efficiency solution company focused on electrical automation, metering, and measurement, precision-engineered products etc, with diverse applications across industries including power, automotive, and industrial sectors.
The company is a global leader in the manufacturing and supply of analog panel meters, and they are among the leading global companies in terms of manufacturing and supply of low voltage current transformers.
The proceeds from the fresh issuance will be used towards financing the cost towards the expansion of Nashik manufacturing facility and general corporate purposes.
The company's
