The Rikhav Securities IPO, a notable SME public offering, has drawn significant attention from investors in India. With its allotment finalized on January 20, 2025, and a projected listing date of January 22, 2025, the IPO has garnered substantial interest due to its promising Grey Market Premium (GMP) and high subscription rates. This article provides detailed information on checking the allotment status through Link Intime and BSE, alongside an analysis of its GMP and business prospects.
Steps to Check Rikhav Securities IPO Allotment Status via Link Intime IPO Allotment Status Page
For investors looking to verify their allotment status, the Link Intime India platform provides a straightforward process:
- Visit Link Intime IPO Allotment Page: Open the dedicated IPO allotment section on the Link Intime website.
- Select Rikhav Securities Limited: From the dropdown menu, choose “Rikhav Securities Limited.”
- Enter Required Details: Provide the necessary information, such as PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Submit Information: Click on the “Submit” button to access your allotment details.
Steps to Check Rikhav Securities IPO Allotment Status on BSE
Alternatively, investors can verify the allotment status on the BSE website by following these steps:
- Visit the BSE Application Status Page: Open the IPO application status section on the BSE website.
- Choose Equity: Select “Equity” as the issue type.
- Select Rikhav Securities Limited: From the list of companies, pick “Rikhav Securities Limited.”
- Enter Application Details: Input your IPO application number or PAN.
- Verify Captcha: Complete the CAPTCHA verification by selecting “I am not a Robot.”
- Submit Your Request: Click on “Submit” to check the status of your allotment.
Rikhav Securities IPO Details
The IPO of Rikhav Securities Limited was valued at ₹88.82 crores, comprising a fresh issue of shares worth ₹71.62 crores and an offer for sale valued at ₹17.20 crores. The IPO price band was set between ₹82 and ₹86 per share, with retail investors required to apply for a minimum lot size of 1,600 shares, translating to an investment of ₹1,37,600. High Net Worth Individuals (HNIs) needed to apply for at least two lots (3,200 shares), requiring a minimum investment of ₹2,75,200.
The IPO was open for subscription from January 15 to January 17, 2025, and received an overwhelming response with a subscription rate of 307 times. The breakdown of subscription categories is as follows:
- Retail Investors: Subscribed 251.36 times.
- Qualified Institutional Buyers (QIB): Subscribed 170.92 times.
- Non-Institutional Investors (NII): Subscribed 616.42 times.
Grey Market Premium (GMP) Analysis
As of January 20, 2025, the Grey Market Premium (GMP) for Rikhav Securities IPO stood at ₹100. Based on the upper price band of ₹86 per share, the estimated listing price is projected at ₹186 per share, representing a potential gain of approximately 116.28%. However, it is important to note that SME IPOs have a cap of 90% on listing gains, which may limit the actual listing price gains.
Use of IPO Proceeds
Rikhav Securities plans to utilize the net proceeds from the fresh issue for the following purposes:
- Operational Expansion: Addressing the company’s growing operational needs.
- Infrastructure Enhancement: Financing the purchase of IT software, computers, and laptops to strengthen IT capabilities.
- Strategic Initiatives: Supporting broader business initiatives aimed at long-term growth.
Business Overview of Rikhav Securities Limited
Established in 1995, Rikhav Securities Limited is a prominent financial services provider in India. Registered with SEBI and a member of BSE, NSE, and MCX, the company offers a wide array of services, including:
- Equity Broking: Services for cash delivery, intraday trading, futures, and options.
- Derivatives and Commodities Trading: Comprehensive trading solutions across markets.
- IPO Support: Facilitating IPO participation for clients.
- Depository Services: Managing demat accounts and settlements as a Self-Clearing Member of the Indian Clearing Corporation and NSE Clearing.
- Mutual Fund Advisory: Offering tailored investment guidance to clients.
- Market-Making Activities: Ensuring liquidity and stability in select securities.
Investor Advisory
Investing in SME IPOs like Rikhav Securities involves a high degree of risk due to market volatility and limited liquidity. While the potential gains are attractive, investors are advised to perform thorough due diligence and consult financial advisors before making investment decisions.
Conclusion
The Rikhav Securities IPO has generated significant investor interest due to its robust subscription rates and attractive GMP. By following the outlined steps, investors can easily check their allotment status via the Link Intime IPO Allotment Status page or the BSE platform. While the projected gains appear promising, caution is essential, and investors must weigh the risks associated with SME IPOs before committing funds.