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Rishabh Instruments listed on September 11 with a 4.3 percent premium over its issue price, trading at Rs 460.05 on the NSE and Rs 460 on the BSE
The IPO received substantial demand, with bids for 24.65 crore equity shares against an issue size of 77.9 lakh shares, indicating high investor confidence
The company reported healthy revenue growth of 21.1 percent in FY23, reaching Rs 569.5 crore. However, profits remained nearly flat at Rs 49.69 crore due to weak operating margins, influenced by high input costs and employee expenses
Despite its growth prospects, Rishabh Instruments faces a significant risk due to its heavy reliance on subsidiaries, which contribute to 67.09 percent of its total revenue in FY23. This dependency on subsidiaries could pose challenges in the future