Rishabh Instruments Ltd is expected to finalise the allotment of its shares on Wednesday, September 6, 2023. This means that the investors who have subscribed to Rishabh Instruments’ initial public offering (IPO) will likely be able to check the status of their share allotment tomorrow, based upon their subscription as well as category.

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Rishabh Instruments’ public issue of size Rs 490.8 crore received a strong response from investors in the three days of the company’s IPO bidding process that concluded on Friday.

The issue was subscribed a total of 31.65 times during the bidding period. The IPO was open for subscription from August 30 to September 1.

Shares of Rishabh Instruments were offered in price band of Rs 418 to Rs 441 each.

During the subscription period the retail category received bids for shares nearly 8.44 times the quota reserved for the segment, while the non-institutional investors' category booked shares at an impressive 31.29 times.

The quota that was set aside for qualified institutional bidders was subscribed a total of a stellar 72.54 times.

The shares of Rishabh Instruments are expected to be credited to be listed on the bourses next week on Monday, September 11, 2023.

Here’s how to check IPO allotment status

Kfin Technologies Ltd has been appointed as the official registrar for the IPO. The bidders can check the status of the IPO allotment both on the registrar’s website and the official websites of BSE, on the day of allotment.

Investors can check the allotment status on BSE by following a few simple steps:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Click on ‘Equity’ under the ‘Issue Type’ section

3) Select ‘Rishabh Instruments Limited’ from the list

4) Enter your application number or PAN number

6) Click on submit

The allotment status can also be checked on the official website of Kfin Technologies at https://ris.kfintech.com/ipostatus/.

First Published:Sept 5, 2023 4:33 PM IST