Rishabh Instruments IPO | The test and measuring instruments and industrial control products maker intends to raise Rs 490.78 crore via maiden public issue of 1.1 crore equity shares, at the upper end of price band of Rs 418-441 per share
The category reserved for retail investors was subscribed 1.82 times, and that of non-institutional investors was subscribed 2.25 times. However, the demand was muted from qualified institutional buyers with just 1% subscription so far on Day 2.
Analysts advised investors to subscribe to the issue for the long term as the company is backed by strong manufacturing capabilities, diverse product portfolio and solid financials.