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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Financing expansion of the Nashik manufacturing facility
A portion of the fresh issue proceeds will fund capacity expansion at the company's Nashik manufacturing facility.
General corporate purposes
The balance of the net fresh issue proceeds will be used for general corporate purposes.
No lots distribution added yet.
(₹ in Crore)
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Rishabh Instruments Limited, incorporated in 1982, is a global energy efficiency solutions company engaged in the design, development and manufacture of test and measuring instruments, electrical automation devices, and industrial control products. Its product range spans metering, control and protection devices, portable test and measuring instruments, and solar string inverters, serving customers across the power, automotive and broader industrial sectors. The company runs manufacturing operations from facilities in India, Poland and China, and distributes its products through a global dealer network reaching more than 70 countries, including over 150 dealers across India. A majority of its revenue is generated from exports, reflecting a business built around international demand for electrical measurement and automation equipment. In its home market, the company holds a leading position in the electrical transducer segment. Rishabh Instruments has grown its revenue and profitability over the years leading up to its listing, supported by rising global demand for energy efficiency and automation solutions. Its outlook remains linked to capital spending trends in the power and industrial equipment sectors, both in India and in its key export markets.
Ahead of the issue opening, Rishabh Instruments allocated shares to 16 anchor investors, raising about Rs 147.2 crore. Participants included HDFC Mutual Fund, Nippon Life India, Sundaram Mutual Fund, Bandhan Mutual Fund, Aditya Birla Sun Life Insurance, Quant Mutual Fund, Tata Multicap Fund and 3P India Equity Fund I, with anchor shares allotted at the upper end of the price band, Rs 441 per share.
Source: RHP • Analysis provided for informational purposes
Last Updated: 18 July 2026, 1:46 AM
Global Export Reach
A majority of the company's revenue comes from international markets across more than 70 countries, backed by in-house manufacturing in India, Poland and China, indicating an established global customer base for its measurement and automation products.
Leading Domestic Market Position
The company holds a leading share of the Indian electrical transducer market, giving it a strong foothold in a niche segment of the broader metering and control devices industry.
Full-Price Valuation
At the upper end of the price band, the issue was priced at a price-to-earnings multiple in the mid-30s on post-issue diluted earnings, leaving limited valuation cushion versus its recent profit growth.
Flat Recent Profitability
Profit after tax was roughly flat between FY22 and FY23 despite revenue growth, pointing to margin pressure in the most recent year.
No Dividend Track Record
The company had not paid equity dividends in the periods covered by its financials and had not committed to a fixed payout policy going forward.
Rishabh Instruments Limited
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