- Rikhav Securities IPO opens: January 15, 2025, and closes on January 17, 2025.
- Price Band: ₹82 to ₹86 per share.
- Lot Size: 1,600 shares.
- Anchor Investor raised: ₹25.11 crores from anchor investors.
- Listing Date: January 22, 2025, on BSE SME.
- IPO Objectives: Working capital, IT-related capital expenditure, and corporate purposes.
Rikhav Securities Limited, a prominent player in India’s financial services industry, is set to launch its Initial Public Offering (IPO) to raise Rs 88.82 crores. This IPO consists of a fresh issue of 83.28 lakh shares, aggregating to Rs 71.62 crores, and an offer for sale of 20 lakh shares, aggregating to Rs 17.20 crores.
The Rikhav Securities IPO will open for subscription from January 15, 2025, and close on January 17, 2025. The IPO allotment will be finalized on January 20, 2025, and the shares are expected to list on BSE SME on January 22, 2025.
Rikhav Securities Key IPO Details:
| Attribute | Details |
|---|---|
| IPO Opening Date | January 15, 2025 |
| IPO Closing Date | January 17, 2025 |
| IPO Price Band | ₹82 to ₹86 per share |
| Face Value | ₹5 per share |
| Total Issue Size | ₹88.82 crores |
| Fresh Issue Size | ₹71.62 crores (83.28 lakh shares) |
| Offer for Sale Size | ₹17.20 crores (20 lakh shares) |
| Minimum Lot Size | 1,600 shares |
| Listing At | BSE SME |
| Market Maker | Shreni Shares Limited |
Rikhav Securities IPO Subscription Details:
- Retail Investors: The minimum application is 1,600 shares, worth ₹1,37,600.
- HNI Investors: The minimum application is for 3,200 shares (2 lots), totalling ₹2,75,200.
Rikhav Securities IPO Tentative Timeline:
| Event | Date |
|---|---|
| IPO Opening Date | January 15, 2025 |
| IPO Closing Date | January 17, 2025 |
| Basis of Allotment | January 20, 2025 |
| Initiation of Refunds | January 21, 2025 |
| Credit of Shares to Demat | January 21, 2025 |
| Listing Date | January 22, 2025 |
| Cut-off Time for UPI Mandate | 5 PM on January 17, 2025 |
Rikhav Securities IPO Reservation Categories
| Investor Category | Shares Offered |
|---|---|
| QIB (Qualified Institutional Buyer) | Not more than 50% of the net issue |
| Retail | Not less than 35% of the net issue |
| NII (HNI) (Non-Institutional Investors) | Not more than 15% of the net issue |
IPO Lot Size and Investment Details
| Investor Type | Lot Size | Shares | Investment Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,37,600 |
| Retail (Max) | 1 | 1,600 | ₹1,37,600 |
| HNI (Min) | 2 | 3,200 | ₹2,75,200 |
Rikhav Securities IPO Anchor Investors
Rikhav Securities has raised ₹25.11 crores from anchor investors ahead of its IPO. The bid date for anchor investors is January 14, 2025.
| Anchor Investor Details | Information |
|---|---|
| Shares Offered | 29,20,000 shares |
| Anchor Portion Size | ₹25.11 Crores |
| Lock-in Period (50% shares) | Ends on February 20, 2025 |
| Lock-in Period (Remaining 50%) | Ends on April 21, 2025 |
About Rikhav Securities Limited
Rikhav Securities, incorporated in 1995, is a well-established financial services firm in India offering a wide range of brokerage and financial services. It is registered with SEBI as a stockbroker and has memberships with BSE, NSE, and MCX.
Services Offered
- Equity broking
- Cash delivery and intra-day trading
- Futures and options trading
- IPO participation and depository services
- Mutual fund advisory
- Market-making activities
Competitive Strengths
| Strengths | Details |
|---|---|
| Long-term client relationships | Rikhav Securities has built strong, long-lasting relationships with its clients over the years. |
| Integrated financial services platform | A comprehensive platform for all financial needs. |
| Experienced management | Proven track record of effective management and execution. |
| Strong workforce | 394 employees managing daily operations, legal, and accounting functions. |
Financials of Rikhav Securities (Restated Consolidated)
| Period Ended | Sep 30, 2024 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 |
|---|---|---|---|---|
| Assets (₹ Lakhs) | 33,791.49 | 30,206.82 | 18,772.01 | 18,070.69 |
| Revenue (₹ Lakhs) | 9,615.83 | 11,134.26 | 5,452.43 | 4,298.31 |
| Profit After Tax (₹ Lakhs) | 5,037.32 | 4,264.63 | 1,910.27 | 1,762.47 |
| Net Worth (₹ Lakhs) | 18,845.06 | 13,807.74 | 9,496.21 | 7,585.94 |
| Reserves & Surplus (₹ Lakhs) | 17,346.86 | 12,309.54 | 7,998.01 | 7,086.54 |
| Total Borrowing (₹ Lakhs) | 2,598.06 | 4,806.11 | 994.27 | 1,506.12 |
Objects of the IPO
The funds raised through the fresh issue will be used for:
- General corporate purposes.
- Funding working capital requirements.
- Capital expenditure for purchasing IT software, computers, and laptops.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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