Rikhav Securities IPO Closed
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Schedule of Rikhav Securities
| Issue open date | 15 Jan 2025 |
| Issue close date | 17 Jan 2025 |
| UPI mandate deadline | 17 Jan 2025 (5 PM) |
| Allotment finalization | 20 Jan 2025 |
| Refund initiation | 21 Jan 2025 |
| Share credit | 21 Jan 2025 |
| Listing date | 22 Jan 2025 |
| Mandate end date | 01 Feb 2025 |
| Lock-in end date for anchor investors (50%) | 15 Feb 2025 |
| Lock-in end date for anchor investors (remaining) | 20 Apr 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Rikhav Securities
Rikhav Securities Limited, founded in 1995, offers equity broking, trading, market-making, IPO facilitation, and depository services. With 2+ decades of experience, a robust digital platform, and a strong management team, it caters to retail and HNI clients across India. The company excels in market-making for SMEs, enhancing liquidity, and delivering personalized wealth solutions. Led by experienced promoters, RSL combines advanced technology with client-centric strategies to drive growth and strengthen its market presence.
Financials of Rikhav Securities
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹88.82 crores |
| Fresh Issue | ₹71.62 crores |
| Offer for Sale | ₹17.20 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 46 (64.25%) |
| Capital expenditure for IT Software, Computers, etc | 4.13 (5.77%) |
| General corporate purposes and others | 21.49 (30%) |
Strengths
- Strong client relationships drive repeat business and commissions.
- Diverse services boost growth and client ties.
- Experienced management ensures market insight and growth.
- Robust risk management minimizes trading risks.
Risks
- Ongoing litigation may negatively impact business, reputation, and operations.
- Past penalties from regulatory authorities may affect financial stability and operations.
- Extensive statutory and regulatory requirements can influence business outcomes.
- Risk of fraudulent transactions may lead to legal and regulatory issues.
- Dependence on IT systems exposes the company to operational risks from potential failures.
Allotment Status for Rikhav Securities
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Subscription Figures for Rikhav Securities
Subscription numbers as of 5:00 PM on 17 Jan 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 19.55 | 3341.84 | 170.92x |
| HNI (₹2L+) | 20.04 | 9128.35 | 455.32x |
| Retail (upto ₹2L) | 34.48 | 8666.81 | 251.36 |
| Total | 74.08 | 21137.00 | 285.33x |