Aniket PujariRiddhi Display Equipments IPO: The initial public offering (IPO) of Riddhi Display Equipments, which opened for bidding on December 8, is a book-built offer of ₹24.68 crore. The issue is entirely a fresh share sale of 0.25 crore shares.
The SME IPO will remain open for bidding till December 10. The allotment for Riddhi Display Equipments IPO is slated to take place on December 11, while the listing on BSE SME is slated for December 15.
Riddhi Display Equipments IPO Subscription Status
As of 4.35 pm on the second day of the bidding process, Riddhi Display Equipments IPO was subscribed 49%. The retail portion received 71% bids, the non-institutional investor (NII) segment 35% bids and the qualified institutional buyer (QIB) quota 1 times bids so far.
Overall, investors applied for 11,37,600 shares as against 23,44,800 shares on offer.
Riddhi Display Equipments IPO GMP
The grey market premium for Riddhi Display Equipments IPO is Re 1. This means that shares of Riddhi Display Equipments are trading ₹1 above the upper end of the price band of ₹100. At the prevailing GMP, Riddhi Display Equipments IPO listing price could be ₹101, a premium of 1% over the issue price.
Riddhi Display Equipments IPO Details
The price band for Riddhi Display Equipments IPO is fixed at ₹95 to ₹100 apiece. Investors can apply for the IPO in lots of 1200 shares. For a retail investor, the minimum application size is two lots, requiring an investment of ₹2,40,000 at the upper end of the price band.
The company plans to use ₹4.96 crore for interior work and for purchase of new equipment/machineries for setting up of Manufacturing cum assembly Unit at Lucknow, Uttar Pradesh; ₹3.79 crore for purchase of new equipment/machineries/softw are etc. for upgradation of existing manufacturing unit of the company located at Gondal, Rajkot; ₹1.43 crore for capital expenditure towards setting up of showroom in Gujarat and ₹9.74 crore for funding capex needs. The remaining will be used for general corporate purposes.
Riddhi Display Equipments is primarily engaged in creating innovative and tailor-made solutions for commercial kitchen and bakery setup requirements. Broadly, its products can be classified under three segments: Display counters, commercial kitchen equipment and commercial refrigeration equipment.
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