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Rishabh Instruments’ IPO to open on Aug 30; price band fixed Rs 418-441
Global energy efficiency solution company Rishabh Instruments Ltd on Friday said it has fixed a price band of Rs 418-441 per share for its Rs 491-crore initial public offering (IPO).
The maiden public issue will open for subscription on August 30 and close on September 1, the company announced.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 75 crore and an offer for sale (OFS) for up to 94.3 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP).
Asha Narendra Goliya, Narendra Rishabh Goliya (HUF), Rishabh Narendra Goliya, and SACEF Holdings II will offload shares of the company in the OFS.
Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes.
The company through its IPO will fetch Rs 469.10 crore - Rs 490.78 crore at the lower and upper end of the price band, ...