The initial public offering (IPO) of Rishabh Instruments will open for subscription on August 30. The three-day bidding process will conclude on September 1. The company's shares are expected to get listed on both the exchanges — NSE and BSE. Here are the 10 things to know about the offer.

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1) Price band

: The Nashik-based company has fixed a price band of Rs 418-441 per share and investors can bid for a minimum of 34 shares in one lot and in multiples thereafter.

2) About the issue: The public offer comprises fresh equity issue of Rs 75 crore and an offer for sale (OFS) of 94.28 lakh shares. Considering the upper end of the price band, the firm is set to raise Rs 491 crore through the IPO, valuing it at Rs 1,600 crore.

3) Who are the selling shareholders under the OFS? Under the OFS, Asha Narendra Goliya will offload about 15 lakh equity shares, while Rishabh Narendra Goliya will tender 4 lakh equity shares and 5.18 lakh shares will be offloaded by Narendra Rishabh Goliya (HUF). Meanwhile, SACEF Holdings II too will tender up to 70 lakh equity shares.

4) Structure of the IPO: About 50 percent of the public offer is set aside for qualified institutional buyers, 15 percent reserved for non-institutional investors and the rest 35 percent for retail investors.

5) Objects of the issue: The proceeds from the fresh issuance worth Rs 59.50 crore will be used towards financing the cost towards the expansion of Nashik manufacturing facility and general corporate purposes.

6) Book running lead managers for the IPO: DAM Capital Advisors Ltd, Motilal Oswal Investment Advisors and Mirae Asset Capital Markets (India) are the book-running lead managers to the issue, while Kfin Technologies has been appointed as the registrar.

7) Anchor investment: The anchor book will open on August 29, a day before the issue opening.

8) Allotment, listing details: The basis of allotment will likely be finalised on September 6, and the credit of shares will be on September 8. Shares of Rishabh Instruments will be listed on the exchanges, with September 11 as the tentative date of listing.

9) Financials: The company's revenue from operations increased to Rs 569 crore in fiscal 2023 against Rs 470.25 crore a year ago, whereas net profit stood at Rs 49.6 crore in FY23 versus Rs 49.65 crore.

10) Company overview: Rishabh Instruments is an integrated player involved in designing, developing, manufacturing and supplying electrical automation devices, metering, control and protection devices; portable test and measuring instruments; and solar string inverters.

Additionally, the company manufactures and supplies aluminium high-pressure die-casting through its arm, Lumel Alucast. It has two manufacturing facilities in Nashik and has a total installed capacity of 4.31 million units per annum as of March 2023.