IPO Details

Bidding Dates

14 Jan '25 - 16 Jan '25

Minimum Investment

₹1,37,600 / 1 Lot (1,600 Shares)

Price Range

₹82 - ₹86

Maximum Investment

₹1,37,600 / 1 Lot (1,600 Shares)

Retail Discount

To be announced

Issue Size

₹88.82 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Rikhav Securities IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jan 14, 2025

IPO Closing Date

Jan 16, 2025

Basis of Allotment

Jan 19, 2025

Initiation of Refunds

Jan 20, 2025

IPO Listing Date

Jan 21, 2025

Rikhav Securities IPO

Rikhav Securities IPO is set to raise ₹88.82 crore through a book-built issue. The offering includes a fresh issue of 83.28 lakh shares amounting to ₹71.62 crore and an offer for sale of 20.00 lakh shares totaling ₹17.20 crore. The IPO will open for subscription on January 15, 2025, and close on January 17, 2025.

The price band for the issue is ₹82 to ₹86 per share, with a minimum application lot size of 1,600 shares. Retail investors need to invest at least ₹1,37,600, while high-net-worth individuals must apply for a minimum of two lots, requiring an investment of ₹2,75,200.

The shares are expected to be allotted on January 20, 2025, with the listing on the BSE SME platform slated for January 22, 2025. Smart Horizon Capital Advisors Private Limited is the lead manager, and Link Intime India Private Ltd is serving as the registrar for the IPO. Shreni Shares Limited has been appointed as the market maker, ensuring liquidity for the shares post-listing.

This IPO offers investors an opportunity to participate in a promising venture with defined investment thresholds.

Industry Outlook

  1. India's financial services industry is witnessing rapid expansion, driven by strong growth in existing firms and new entrants. As of March 2024, mutual fund assets under management (AUM) stood at ₹53.40 lakh crore, showcasing robust participation in the capital markets. SIP inflows during FY24 amounted to ₹2 lakh crore, reflecting increased retail investor engagement.
  2. Government initiatives like the Credit Guarantee Fund for MSMEs and MUDRA loans have further bolstered financial inclusion, ensuring easier access to capital for businesses. The Unified Payments Interface (UPI) recorded 12.10 billion transactions worth ₹18.28 lakh crore in February 2024, highlighting the digital transformation of India’s payment ecosystem.

Rikhav Securities IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. The funds will be used to meet incremental working capital needs, supporting smooth business operations and growth.
  2. Proceeds will finance the purchase of IT software, computers, and laptops, enhancing technological infrastructure.
  3. The remaining portion of the funds will be allocated for general corporate purposes.

About Rikhav Securities Limited 

Rikhav Securities Limited (RSL), established in 1995, is a prominent player in the Indian financial services sector, specialising in equity broking, investment, and trading activities. Registered with SEBI as a stockbroker, RSL holds memberships with major exchanges including BSE, NSE, and MCX. The company offers diverse services such as cash delivery, intra-day trading, futures, options, and IPO participation. Additionally, it provides depository services for opening and maintaining demat accounts.

RSL is a Self-Clearing Member of ICCL and NCL, ensuring seamless trade settlements. It also serves as a mutual fund advisor, guiding clients through investment decisions. The company’s market-making activities, initiated in 2012, support SME liquidity by providing two-way quotes, with mandates completed for 66 companies on SME platforms.

Proprietary investments form another pillar of RSL’s business, focusing on securities, derivatives, and currencies with high liquidity. The company operates through online platforms and a network of authorised persons, spanning several Indian pin codes.

Recent advancements include a mobile application launched in 2024 and a fully digital KYC process. By combining cutting-edge technology and deep industry expertise, RSL is well-positioned to benefit from the evolving Indian financial market and digital transformation, ensuring comprehensive client services and sustained growth.

How To Check the Allotment Status of the Rikhav Securities IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Rikhav Securities IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Rikhav Securities IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Rikhav Securities IPO 

Registered office: Office No. 922 - A, 9th Floor, P. J. Towers, Dalal Street, Fort, Mumbai - 400 001, Maharashtra, India

Phone: 022 - 69078300

E-mail: investor@rikhav.in 

Rikhav Securities IPO Reservation

Investor Category

Shares Offered

QIB Shares 

Not more than 50% of the Net Issue

NII (HNI) Shares 

Not more than 15% of the Net Issue

Retail Shares 

Not less than 35% of the Net Issue

Rikhav Securities IPO Anchor Investors Details

Bid Date

January 14, 2025

Shares Offered

29,20,000

Anchor Portion Size (In ₹ Cr.)

25.11

Anchor lock-in period end date for 50% shares (30 Days)

February 20, 2025

Anchor lock-in period end date for remaining shares (90 Days)

April 21, 2025

Rikhav Securities IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

1,600

₹1,37,600

Retail (Max)

1

1,600

₹1,37,600

HNI (Min)

2

3,200

₹2,75,200

Rikhav Securities IPO Promoter Holding

The promoters of the company are Mr Hitesh Himatlal Lakhani, Mr Rajendra N Shah, Ms Bharti Hitesh Lakhani, Ms Vaishali R Shah, Mr Deep Hitesh Lakhani, Mr Monil Rajendra Shah and M/s. Hitesh Himatlal Lakhani HUF.

Share Holding Pre-Issue

90.55%

Share Holding Post Issue

65.63%

Key Performance Indicators for Rikhav Securities IPO

As of March 31, 2024, the market capitalisation of Rikhav Securities's IPO is ₹329.31 crore. Here are the KPIs of Rikhav Securities:

KPI

Value

ROE (%)

36.60

ROCE (%)

29.48

Debt to Equity Ratio (x)

0.35

RoNW (%)

30.89

PAT Margin (%)

40.94

Price to Book Value (x)

1.87

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

14.23

26.31

P/E (x)

6.04

3.27

Note: Pre-IPO EPS is based on the pre-issue shareholding as per the RHP and FY earnings as of March 31, 2024. Post-issue EPS considers post-issue shareholding and annualised earnings as of September 30, 2024, detailed in the RHP.

Rikhav Securities IPO Prospectus

Rikhav Securities IPO Registrar and Lead Managers

Rikhav Securities IPO Lead Managers

  • Smart Horizon Capital Advisors Private Limited

Registrar for Rikhav Securities IPO

Link Intime India Private Ltd

 

Rikhav Securities IPO Registrar

Financial Performance of Rikhav Securities Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 10,416.17 4,946.76 3,549.91
Profit After Tax (PAT) (in ₹ lakh) 4,264.63 1,957.17 1,762.47
Debt to Equity Ratio (x) 0.35 0.10 0.20
Net Worth (in ₹ lakh) 13,807.74 9,496.21 7,585.94
Return on Equity (%) 36.60 22.91 26.29
Return on Capital Employed (%) 29.48 26.68 28.07
Current Ratio (x) 0.90 1.17 1.00
Earning Per Share (EPS)-in absolute ₹ 14.23 6.38 5.88

Know before investing

Strengths

5

  1. Strong client relationships drive sustainable business growth with repeat customers.

  2. The integrated financial services platform includes equity, derivatives, commodities, and currency.

  3. Comprehensive risk management ensures operational stability and market adaptability.

  4. An experienced leadership team enhances business execution and market insight.

  5. Strategic focus on institutional and HNI broking supports revenue diversification.

Risks

5

  1. Adverse outcomes of ongoing litigation may impact business operations and reputation.

  2. Regulatory penalties and compliance failures could affect financial performance.

  3. Dependence on IT systems makes the business vulnerable to technical failures.

  4. Fraudulent transactions by clients may lead to costly regulatory disputes.

  5. Negative cash flows from investing activities could hinder business growth.

  • How to Apply in IPO
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Rikhav Securities Limited Peer Comparison

Company Name EPS (Basic) EPS (Diluted) P/E (x) RoNW (%)
Rikhav Securities Limited 14.23 14.23 - 30.89
Alacrity Securities Limited 5.43 5.43 29.09 25.42
Angel One Limited 134.21 131.81 20.57 37.04
Share India Securities Limited 25.41 21.83 11.99 24.37
Pune E – Stock Broking Limited 11.04 11.04 16.68 9.77

Rikhav Securities IPO FAQs

What is the Rikhav Securities IPO?

Rikhav Securities IPO is a book-built issue IPO. It will be open from January 15, 2025, to January 17, 2025.

When will the Rikhav Securities IPO be allotted?

The Basis of Allotment will happen on Monday, January 20, 2025.

When will the Rikhav Securities IPO open for subscription?

The IPO subscription window will open on January 15, 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,600 shares.

When will Rikhav Securities Limited list on exchanges?

The listing date for Rikhav Securities Limited is Wednesday, January 22, 2025.

What is the issue size of the Rikhav Securities IPO?

The issue size of the Rikhav Securities IPO is up to ₹88.82 crore, with a fresh issue of ₹71.62 crore and an offer for sale of ₹17.20 crore.

What are the open and close dates of the Rikhav Securities IPO?

The open and close dates for Rikhav Securities IPO are from January 15, 2025, to January 17, 2025.

What would be the listing gains on the Rikhav Securities IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Rikhav Securities IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Rikhav Securities IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Rikhav Securities Limited using one PAN?

You can submit only one application using your PAN card.

How to read Rikhav Securities Limited's financial statements?

To read Rikhav Securities’s financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for Rikhav Securities Limited IPO?

Pre-apply allows investors to apply for the  Rikhav Securities  IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Rikhav Securities Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Rikhav Securities Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Rikhav Securities IPO?

Link Intime India Private Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Rikhav Securities IPO getting listed?

Rikhav Securities Limited IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE).