Rikhav Securities IPO DAY 2: The initial public offering (IPO) of financial services firm Rikhav Securities, which opened for subscription on January 15, 2025, has received strong demand, with the issue oversubscribed by 19.61 times as of 12:09 PM on January 16, 2025. The IPO, a book-built issue, is valued at Rs 88.82 crore, comprising a fresh issue of 8.32 million equity shares and an offer for sale (OFS) of 2 million equity shares. Rikhav Securities raised Rs 25.11 crore from anchor investors during the pre-IPO placement that concluded on January 14, 2025.
Rikhav Securities IPO lot size, price band
The price band for the public offering of Rikhav Securities is set between Rs 81 and Rs 86 per share, while the lot size is 1,600 shares. Thus, retail investors are required to bid for a minimum of 1,600 shares, which translates to an investment of Rs 1,37,600 for one lot at the upper price band.
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Rikhav Securities IPO grey market performance
As of January 16, Rikhav Securities' unlisted shares were trading at Rs 156 per share in the grey market, reflecting a premium of Rs 70, or 81.4 per cent, over the upper end of the issue price, as per the sources tracking unofficial markets.
Rikhav Securities IPO allotment, listing schedule
The subscription period to bid for Rikhav Securities is set to close on January 17, 2025. The basis of allotment is expected to be finalised on January 20, 2025, with shares credited to demat accounts by January 21, 2025.
Shares of Rikhav Securities are expected to list on the BSE SME platform on January 22, 2025.
Rikhav Securities IPO registrar, lead manager
Link Intime India is serving as the registrar for the public issue, while Smart Horizon Capital Advisors is the sole book-running lead manager for the IPO. Also Check: Laxmi Dental IPO Allotment Status
Rikhav Securities IPO objective
Rikhav Securities will not receive any proceeds from the offer for sale, as the selling shareholders will retain their respective portions of the proceeds after deducting offer-related expenses and taxes. The funds raised through the fresh issue will be used for working capital requirements, capital expenditure for IT infrastructure, and general corporate purposes.
About Rikhav Securities
Founded in 1995, Rikhav Securities is involved in equity broking, trading, and investment activities. The company is registered with the Securities and Exchange Board of India (S) as a stockbroker and holds memberships with the BSE, the National Stock Exchange (NSE), and the Multi Commodity Exchange (MCX). As per the RHP, Rikhav Securities offers a wide range of financial services, including equity broking, cash delivery, intraday trading, and derivatives trading.