Rikhav Securities IPO subscribed 307 times on the last day, while A retail quota was subscribed 251.36 times, QIB was subscribed 170.92 times, and NII quota subscribed by 616.42 times respectively.
Details About Rikhav Securities IPO
Rikhav Securities got approval from SEBI for an IPO of ₹88.82 crores to raise funds and maintain financial stability. The face value of each share was Rs 5 each. Moreover, the company has set up a price band between ₹82 to ₹86 per share. In this IPO a total of 1600 shares were available in 1 lot size for the minimum Retail category and for the maximum retail category 1600 shares in 1 lot size, while S-HNI (Min) total of 3,200 shares in 2 lot size.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹1,37,600 and maximum investment of ₹1,37,600.
- Small HNI (S-HNI): Minimum investment of ₹2,75,200.
Subscription duration of Rikhav Securities IPO
Rikhav Securities IPO was opened for subscription on January 15, 2025, and closed for subscription on January 17, 2025. The IPO listing has been scheduled for January 22, while the allotment of Rikhav Securities completed on January 20, 2025.
Funds Deployment of This Company
Following are the purposes the company is planning to use the funds raised by launching an IPO as follows:
- The raised capital will be used to cover the additional companies’ working requirements.
- The raised funds will be utilized to handle the capital expenditure requirements of the company towards the purchasing of IT Software, Computers, and Laptops.
- At Last, the remaining funds will be used to cover the General corporate expenses of the company.
About Rikhav Securities IPO
Incorporated in 1995, Rikhav Securities is involved in the sector of providing financial services like equity broking, investing, and trading. They are known to offer incredible financial services for equity broking, cash delivery, intra-day trading, and also services like futures and options trading. Regular and high-net-worth are both of their clients, they are known to provide services in derivatives and commodities. With the help of their incredible market-making tactics, the business has helped a total of 66 companies to be listed on SME platforms. Rikhav Securities offers its services and broking solutions through online and digital platforms. The company has around 394 employees, while in FY24, the company generated a revenue of 104.16 crores which is higher generated revenue than the previous two years.
Financial Background of Rikhav Securities IPO
In FY24, the company announced a revenue of ₹111.34 crores compared to ₹54.52 crores in 2023. The company generated a profit of ₹42.65 crores in 2024 compared to a profit of ₹19.10 crores in 2023.