Rikhav Securities IPO made a strong debut on the BSE SME platform on Wednesday, with its shares listing at ₹163.4, a 90% premium over its IPO price of ₹83. The impressive listing reflects strong investor interest and market confidence in the company.
Rikhav Securities IPO Subscripiton Status
The Rikhav Securities IPO saw strong demand, with non-institutional investors subscribing 455.33 times their allotted portion. Retail investors picked 251.36 times their quota, while qualified institutional buyers subscribed 170.92 times. The company aimed to raise ₹88.82 crore through a mix of fresh issuance (83.28 lakh shares) and an offer-for-sale (20 lakh shares) from existing shareholders.
Rikhav Securities IPO GMP
The Grey Market Premium (GMP) for Rikhav Securities stood at ₹96, indicating strong investor interest before its listing. The shares debuted at ₹163 on the BSE SME platform, reflecting a significant 96% premium over the IPO price of ₹83. This strong performance highlights robust market confidence and investor enthusiasm for the company’s prospects.
Details About Rikhav Securities IPO
Rikhav Securities IPO opens for subscription from 15th to 17th January 2025, aiming to raise ₹88.82 crores through a fresh issue of 83.28 lakh shares and an offer for sale of 20 lakh shares. The price band is ₹82-86 per share, with a minimum lot size of 1,600 shares (₹1,37,600 for retail investors).
The IPO is set to list on the BSE SME platform on 22nd January 2025, with allotment on 20th January 2025. The company’s revenue grew from ₹49.47 crores in 2023 to ₹104.16 crores in 2024, with profits rising from ₹19.57 crores to ₹42.65 crores.
Funds Deployment of This Company
- Funds will be used for the company’s additional working capital requirements.
- Capital expenditure will cover the purchase of IT software, computers, and laptops.
- Remaining funds will be allocated for general corporate expenses.
About Rikhav Securities IPO
Founded in 1995, Rikhav Securities Limited is a leading Indian financial services provider offering brokerage, investment advisory, and banking solutions. Registered with SEBI, the company is a member of BSE, NSE, and MCX. It provides equity broking, derivatives trading, IPO participation, and mutual fund advisory. With 394 employees as of September 2024, Rikhav Securities operates with a strong infrastructure, leveraging advanced technology for efficient operations.
Financial Background of Rikhav Securities IPO
Rikhav Securities has shown significant growth in recent years. In FY 2022, the company reported a total income of ₹42.98 crore, operating costs of ₹20.86 crore, and net earnings of ₹17.62 crore, with total assets of ₹180.71 crore. In FY 2023, income increased to ₹54.52 crore, operating costs rose to ₹29.90 crore, and net earnings grew to ₹19.57 crore, while total assets reached ₹187.72 crore. The company’s performance further improved in FY 2024, with total income reaching ₹111.34 crore, operating costs rising to ₹58.98 crore, and net earnings soaring to ₹42.65 crore, with total assets growing to ₹302.07 crore. As of November 2024, the company had a total income of ₹96.16 crore, operating costs of ₹33.24 crore, net earnings of ₹50.37 crore, and total assets of ₹337.91 crore.