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Rishabh Instruments IPO subscribed 73% on Day 1, received 5.6 mn bids
The Initial Public Offering (IPO) of global energy efficiency solution company Rishabh Instruments was subscribed 73 per cent on the first day of subscription on Wednesday.
The IPO received bids for 56,75,008 shares against 77,90,202 shares on offer, as per the NSE data.
The category for Non-Institutional Investors (NIIs) was subscribed 1.24 times, while the portion for Retail Individual Investors (RIIs) was subscribed 92 per cent.
The quota for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 75 crore and an Offer For Sale (OFS) of up to 94.3 lakh equity shares by its promoter group shareholders and an existing investor.
Asha Narendra Goliya, Narendra Rishabh Goliya (HUF), Rishabh Narendra Goliya, and SACEF Holdings II will offload shares of the company in the OFS.
The company has fixed a price band for the IPO at Rs 418-441 per share.
Rishabh Instruments on Tuesday said that it has raised Rs