Rishabh Instruments IPO; here's how you can check your allotment status

Rishabh Instruments has revealed the basis of allotment for its shares, and the gray market premium for the upcoming listing has experienced a slight correction. The IPO of the test and measuring instrument maker garnered significant interest from investors during the bidding period.

Rishabh Instruments' IPO was open for subscription from August 30 to September 1, offering shares in the price range of Rs 448 to Rs 441 each, with a lot size of 34 shares, aiming to raise Rs 491 crore through its initial public offering. This included a fresh share sale of Rs 75 crore and an offer-for-sale (OFS) of 415.78 crore shares.

IPO subscription 

The IPO had an overall subscription rate of 31.65 times. The portion reserved for qualified institutional bidders (QIBs) was oversubscribed 72.54 times, while the non-institutional investors' category saw a subscription rate of 31.29 times. Retail investors also showed significant interest, with a subscription rate of 8.44 times during the three-day bidding process.

Following the announcement of the allotment status, the grey market premium (GMP) for Rishabh Instruments has seen a correction. The company was previously commanding a premium of Rs 70–75 per share on Wednesday, but it has now moderated to Rs 63 per share, indicating a potential listing gain of 15 per cent for investors.

Established in 1982, Rishabh Instruments is involved in the manufacturing, design, and development of test and measuring instruments and industrial control products. The company offers cost-effective solutions for measuring, controlling, recording, analysing, and optimising energy and processes through a range of products.

Here are the steps to check the allotment status of Rishabh Instruments IPO on the BSE website:

1. Go to the official BSE website's allotment page at https://www.bseindia.com/investors/appli_check.aspx.
2. In the 'Issue Type' section, choose 'Equity' from the options.
3. From the drop-down menu under 'Issue Name', select the specific IPO, which is Rishabh Instruments in this case.
4. Enter either your PAN or the application number provided during your IPO application.
5. Complete the identity verification by ing the 'I am not a robot' checkbox, and then the 'Submit' button.