Rikhav Securities IPO Itemizing: Brokerage agency made wealthy, ₹86 share listed at ₹163.40, higher circuit as quickly as entry – INA NEWS

Rikhav Securities IPO Itemizing: Shares of brokerage agency Rikhav Securities had an excellent entry on BSE SME at present. Its IPO additionally obtained an excellent response from buyers and general it acquired 307 instances bids. Shares have been issued below the IPO at a value of Rs 86. At this time it has entered BSE SME at Rs 163.40, which suggests IPO buyers obtained an inventory achieve of 90 p.c (Rikhav Securities Itemizing Achieve). After itemizing the shares went up additional. It jumped and reached the higher circuit of Rs 171.57 (Rikhav Securities Share Worth), which suggests the cash of IPO buyers has doubled.

Rikhav Securities IPO obtained robust response

Rikhav Securities’ ₹71.62 crore IPO was open for subscription from January 15-17. This IPO acquired a superb response from buyers and general it was subscribed 307 instances. On this, the portion reserved for Certified Institutional Consumers (QIB) was stuffed 170.92 instances, the share for Non-Institutional Buyers (NII) was 616.42 instances and the share for retail buyers was 251.36 instances. New shares value Rs 71.62 crore have been issued below this IPO. Other than this, 20 lakh shares with face worth of Rs 5 have been offered below the provide on the market window.

The shareholders who offered the shares have acquired the cash from the provide on the market. The cash raised by way of new shares will likely be used for elevated working capital wants and basic company functions in addition to buy of IT software program, computer systems and laptops.

About Rikhav Securities

Rikhav Securities, established in 1995, is a monetary providers firm that gives brokerage, investing and banking providers. It’s registered with SEBI and has membership of BSE, NSE, MSE. Speaking concerning the monetary well being of the corporate, it has repeatedly strengthened. It had a internet revenue of Rs 17.62 crore within the monetary yr 2022, which jumped to Rs 19.10 crore within the subsequent monetary yr 2023 and reached Rs 42.65 crore within the monetary yr 2024. Throughout this era, the corporate’s income elevated at a compound progress price (CAGR) of greater than 60 p.c yearly to Rs 111.34 crore. Speaking concerning the present monetary yr 2024-25, within the first half April-September 2024, it has achieved a internet revenue of Rs 50.37 crore and a income of Rs 96.16 crore.

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