Rikhav Securities Makes Strong Market Debut On BSE SME with 90 pc Premium

ENA MSME 2025-01-22 13:46:46 New Delhi, Jan 22 (KNN) Rikhav Securities Ltd made a remarkable debut on the BSE SME platform today, with its shares listing at Rs 163.4, marking a 90 percent premium over the issue price band of Rs 82-86 per share. The company's initial public offering (IPO), which concluded on January 17, witnessed overwhelming investor response with a subscription rate of 285.33 times. The brokerage house's maiden public issue, which opened on January 15, attracted substantial interest across all investor categories. Non-institutional investors led the charge with 455.33 times subscription of their reserved portion, followed by retail investors at 251.36 times, and qualified institutional buyers at 170.92 times their allotted quotas. The offer received 5.83 lakh applications, with investors bidding for 211.37 crore equity shares against the available 74.08 lakh shares. The company aimed to raise Rs 88.82 crore through this initial share sale, comprising a fresh issuance of 83.28 lakh shares worth Rs 71.62 crore and an offer-for-sale of 20 lakh shares valued at Rs 17.2 crore by existing shareholders. The strong market response was reflected in the grey market premium, which indicated a roughly 90 percent premium on the listing day. The funds raised through the fresh issue will be primarily utilised for meeting incremental working capital requirements and investing in IT infrastructure, including software, computers, and laptops. (KNN Bureau) 40747 https://knnindia.co.in/news/newsdetails/msme/rikhav-securities-makes-strong-market-debut-on-bse-sme-with-90-pc-premium 2025-01-22 13:46:46 knnindia.co.in Rikhav Securities Makes Strong Market Debut On BSE SME with 90 pc Premium