Rikhav Securities came to market through an SME IPO that opened on 15 January 2025 and closed on 17 January 2025, and the shares listed on 22 January 2025 on BSE SME. The price band was ₹82 to ₹86 per share and one lot was 1600 shares, so the minimum application was ₹1,37,600. The issue size was ₹88.82 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Link Intime India Private Ltd was the registrar to the issue, and Smart Horizon Capital Advisors Private Limited was the lead manager.
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Established in 1995, Rikhav Securities Limited is one of India's premier financial services companies with brokerage, investment, and banking facilities. This SEBI-registered stockbroker belongs to various exchanges of BSE Ltd, NSE, and MCX. The list of services that are being offered to its customers in this company, which includes: Equity broking, Cash Delivery, intra-day trading, futures, options, etc. The company deals in different derivative and commodity segments.
Being a Self-Clearing Member of the Indian Clearing Corporation and NSE Clearing, the company ensures hassle-free settlement of trades. Rikhav Securities facilitates its clients in subscribing to an IPO and also offers depository services for demat accounts. As mutual fund advisors, the company advises clients about their investment alternatives. The company is also involved in market-making.
As described in the offer document.
s. Hitesh Himatlal Lakhani HUF. Promoter holding 90.55% before the issue and 65.63% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Rikhav Securities IPO was a ₹88.82 crore book-built issue, comprising a fresh issue of ₹71.62 crore and an offer for sale of ₹17.2 crore. It was priced at ₹82–₹86 per share with a lot size of 1,600 shares (₹1,37,600). The IPO was open from January 15 to January 17, 2025. Shares listed on BSE SME on January 22, 2025 at ₹163.40, a 90.0% premium to the issue price of ₹86. Link Intime India Private Ltd is the registrar.
Smart Horizon Capital Advisors Private Limited is the book running lead manager.
The price band of Rikhav Securities IPO is ₹82 to ₹86 per share.
The lot size of Rikhav Securities IPO is 1600 shares.
The minimum investment for Rikhav Securities IPO is approximately ₹1,37,600 based on the upper price band.
The allotment date of Rikhav Securities IPO is Jan 20, 2025.
Rikhav Securities IPO's final recorded GMP before listing was ₹90 per share (a 105% premium over the ₹86 upper price band). The shares listed at ₹163.4. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Rikhav Securities IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Rikhav Securities IPO allotment status on Rupix for quick and easy access.
₹82 to ₹86 per share, against a face value of ₹5. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,37,600. After listing, SME shares also trade in lots rather than one share at a time.
₹1,37,600, for one lot of 1600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 15 January 2025 and closed on 17 January 2025.
The basis of allotment was published on 20 January 2025 by Link Intime India Private Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 22 January 2025 on BSE SME.
The issue size was ₹88.82 crore. The fresh issue was 83,28,000 shares (aggregating up to ₹71.62 crore). The offer for sale was 20,00,000 shares (aggregating up to ₹17.2 crore).