Rikhav Securities IPO which opened on January 15, 2025, will conclude today. The three-day subscription window for the initial public offering (IPO) of Rikhav Securities was very successful. This is against the 89,70,371 equity shares on offer. This translates to an oversubscription of 33.63 times by the end of January 15, 2025.
Rikhav Securities IPO- Oversubscription
National Stock Exchange (NSE) in its data reveals that Non-Institutional Investors (NIIs) have driven demand. Non-Institutional Investor’s demand for the Rikhav Securities IPO led to oversubscription in their reserved category by 21.24 times. Additionally, Retail Individual Investors (RIIs) oversubscribed their portion by 59.41 times. Additionally, Qualified Institutional Buyers (QIBs) subscribed to 87 percent shares of their allocation.
Rikhav Securities IPO comprises a fresh issue of 8,32,000 million equity shares and an offer for sale of 20,00,085 equity shares. The price band set at Rs 82-86 per share, with a lot size of 1600 shares. Retail investors can bid for a minimum of Rs 1,37,600 for one lot at the upper price band.
Rikhav Securities IPO – GMP
The strong demand for IPO is seen in the grey market too, where unlisted shares are available at Rs 171 apiece. This indicates a grey market premium (GMP) of Rs 85 or 98.84 per cent over the upper end of the IPO price band, according to sources tracking unofficial markets.
Since the IPO subscription closes today, the basis of allotment for shares will be finalized tentatively by January 20, 2025. Successful allottees of IPO will receive shares in their demat accounts by January 21, 2025. Moreover, Rikhav Securities shares tentatively will be listed on the BSE and NSE by January 22, 2025.
About Company
Rikhav Securities is a financial services company that is incorporated in 1995. It offers brokerage, investing, and banking services. Rikhav Securities is registered with the Securities and Exchange Board of India (SEBI) as a stockbroker and holds memberships with the BSE, National Stock Exchange (NSE), and Multi Commodity Exchange (MCX). Moreover the company provides services such as equity broking, cash delivery, intraday trading, and derivatives trading.
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